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TO: Mayor Richard C. Irvin, Mayor
FROM: Christopher A. Minick, Chief Financial Officer/City Treasurer
DATE: May 9, 2025
SUBJECT:
An Ordinance Amending the Annual Budget for the Fiscal Year Beginning January 1, 2024 and Ending December 31, 2024 (Amendment #3 for the 2024 Fiscal Year)
PURPOSE:
To obtain the City Council's approval of a proposed amendment to the 2024 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 2024 budget on December 5, 2023 through the passage of Ordinance No. O23-088.
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 2024 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.
Items 1 and 26: Grants/Other Grants, Police, General Fund (Offsetting Revenue increase of $1,188,900 and Expenditure Increase of $1,134,500). These items adjust the budget to account for the grant received through Bill Foster COPS grant.
Items 2 and 72: Transfer from Capital Improvements Fund to the Transformation Fund ($16,000,000).
Items 3 and 34 through 35: Emergency Solutions Grant Fund (Offsetting Revenues and Expenditures Increases totaling $26,700). These items adjust the budget for the COVID-19 CDBG funding allocation to the city.
Items 4 and 63: Interfund Transfer from TIF District #3 Fund to repay Gaming Tax Fund in the amount of $3,400,000. The Gaming Tax Fund...
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