Council Unanimously Adopts Budget Amendments for 2019-2020 Biennium
At the Dec. 10 City Council meeting, the Council voted unanimously to adopt budget amendments for the 2019-20 budget to amend beginning fund balances across all funds and carryovers from 2018 for capital projects.
The amendments account for minor revenue and expenditure adjustments different areas of the budget and will bring our beginning fund balances, which were projections when the original biennium budget was adopted, to actual beginning fund balances.
Finance Director Heidi MacDonald reported the City’s revenue for 2019 is projected to come in at 47 percent of the anticipated revenue over the two-year period, meaning the City will budget to receive the other 53 percent in 2020 and equaling 100 percent over the 2019-20 biennium. The City is projected to end 2019 with expenditures coming in at 9 percent under budget, having spent 41 percent of the full budget.
In December of 2018, the Council adopted the first two year budget the City has ever developed to provide better long-term revenue and expenditure forecast. The biennial budget is adopted every even year, while amendments are made every odd year.
How the City Council Voted
Yays; Unanimous
