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TO: Mayor Thomas J. Weisner
FROM: Brian W. Caputo, Chief Financial Officer/City Treasurer
DATE: November 13, 2015
SUBJECT:
An Ordinance Adopting an Annual Budget for the Fiscal Year Beginning January 1, 2016 and Ending December 31, 2016 in Lieu of Passage of an Appropriation Ordinance.
PURPOSE:
To obtain the City Council's approval of the attached ordinance that would, in turn, provide for the approval of the proposed 2016 City Budget.
BACKGROUND:
In Illinois, municipalities may conduct their financial operations under one of two alternative frameworks: an appropriations process (65 ILCS 5/8-2-9) or a budget process (65 ILCS 5/8-2-9.1 through 9.9). On November 9, 1999, the City Council approved Ordinance No. O99-096 that placed the city on the budget system of finance in lieu of the appropriations system beginning with the 2000 fiscal year.
DISCUSSION:
The Mayor released his proposed 2016 City Budget on October 27, 2015. The Finance Committee will have met seven times during November to review the document. Representatives from city departments have appeared before the Finance Committee to provide additional information on specific items of interest in the proposed 2016 City Budget.
Since the initial version of the proposed 2016 City Budget was released, the Finance Department has made a number of changes into the document at the request of the Finance Committee, the Mayor's Office, and/or department heads. These changes are detailed in the schedule that is the first attachment to this memorandum. The second attachment to this memorandum details a number of carryovers from the 2015 budget to the 2016 budget that the department heads have requested.
Also attached to this memorandum is a "Budget Preparation Worksheet for Fiscal Year 2016." This document constitutes the currently proposed 2016 City Budget. The amounts in the 2016 Budget Preparation Worksheet reflect the amounts included in the initially proposed budget and t...
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