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TO: Mayor Richard C. Irvin, Mayor
FROM: Martin S. Lyons, Chief Financial Officer/City Treasurer
Stacey L. Peterson, Director of Financial Operations
DATE: April 22, 2021
SUBJECT:
An Ordinance Amending the Annual Budget for the Fiscal Year Beginning January 1, 2020 and Ending December 31, 2020 (Amendment #1 for the 2020 Fiscal Year)
PURPOSE:
To obtain the City Council's approval of a proposed amendment to the 2020 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 2020 budget on December 10, 2019 through the passage of Ordinance No. O19-092.
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.
The COVID-19 Pandemic and civil unrest incidents presented unique challenges to resource allocation (budgeting) throughout the fiscal year. Some funds such as Motor Vehicle Parking System and Transit were hit very hard by the pandemic and other funds such as the General Fund and Water Funds weathered the pandemic in a stable fashion. The following information explains how each account/fund is amended to show changes in revenues and expenses to account for such items as the receipt of CARES Act Funding and the necessary usages of this funding both in the General Fund and through subsequent transfers to other funds that required support due to lost revenues in fiscal year 2020.
DISCUSSION:
The attached, proposed ordinance, including its Exhibit A, would provide for certain changes in the 2020 City Budget. Below is an explanation for each change. The item numbers discussed below correspond to the item num...
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