cover
TO: Mayor Richard C. Irvin
FROM: Martin S. Lyons, CFO/ City Treasurer
Stacey L. Hamling, Assistant Finance Director
DATE: May 24, 2019
SUBJECT:
An Ordinance Amending the Annual Budget for the Fiscal Year Beginning January 1, 2019 and Ending December 31, 2019 (Amendment #1 for 2019 Fiscal Year).
PURPOSE:
To obtain the City Council's approval of a proposed amendment to the 2019 City Budget.
BACKGROUND:
Pursuant to 65 ILCS 5/8-2-9.1 through 9.10, the City of Aurora operates under the budget system of government finance. The City Council adopted the 2019 budget on December 11, 2018 through the passage of Ordinance No. O18-099.
While the city attempts to anticipate all potential expenditures for a fiscal year when that year's budget is developed, circumstances occasionally arise that require expenditures that were not contemplated in the original financial plan. 65 ILCS 5/8-2-9.6 permits a municipality operating under the budget system to amend its annual budget by a two third's vote of its governing body.
DISCUSSION:
The attached, proposed ordinance, including its Exhibit A, would provide for certain changes in the 2019 City Budget. Below is an explanation for each change. The item numbers discussed below correspond to the item numbers assigned to each change detailed in Exhibit A.
Amendments Due to Timing - These are amendments that occur due to the timing of grants or the timing of capital projects.
Items 1 and 25: Grants/Other, General Fund (Offsetting Revenue and Expenditure Increase of $87,500). These items adjust the budget to account for a grant from the Secretary of State for the 2020 census outreach efforts.
Items 2 and 49 through 56: HOME Program (Offsetting Revenue and Expenditure Increases Totaling $1,570,900). These items adjust the budget for the actual annual HOME Program allocation to the city. At the time the 2019 budget was prepared we did not have final allocation inform...
Click here for full text