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DAtE SUBMITTED: August 19,2008
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
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SUBJECT: Ordinance No. ~5<O
amending Ordinance No. 5032 relating to the
City of Bremerton's 2008 annual budget
Committee Meeting Date: August 27, 2008
COUNCIL MEETING Date: September 3,2008
Department: Financial Services
Presenter: Laura S. Lyon
Phone: 473-5722
SUMMARY: The Bremerton City Council adopted the 2008 annual City budget by Ordinance No.
5032 on December 5, 2007. Certain programs have been implemented and actions taken during the
year which have an impact on the City's 2008 budget - resulting in the need to amend the 2008
budget document.
ATTACHMENTS: Ordinance and attachments, explanatory memo, and detailed fund recaps
FISCAL IMPACTS (Include Budgeted Amount): Most funds of the City are updated by this
ordinance at a minimum to reflect the actual beginning fund balances. The attached discussion memo
and supporting schedules provide the net fiscal impact to each fund for the proposed changes. The
ending fund balances for the Utility Systems meet or exceed the City's adopted financial goals &
policies. The General Fund ending fund balance falls below the target level after the proposed budget
adjustments -largely the result of additional costs related to fuel, electricity, higher litigation costs,
and reduced funding support provided by the Parking System in 2008 as a consequence of reduced
REET funding available to support the Parking System's debt obligations. The 2009 financial
planning and budget process will need to ensure that this condition does not deteriorate any further,
and if possible begin improving the balance back towards meeting the target fund balance level. Gold
Mountain Golf continues to not meet the target ending fund level and is proposed to be updated for
actual beginning fund balances only.
APPROV ALS:
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MA YOR:
COMMITTEE CHAIR
COUNCIL PRESIDENT:
CONSENT AGENDA 0
GENERAL BUSINESS M
PUBLIC HEARING
RECOMMENDED MOTION: Move to approve Ordinance No. 5oSl, amending Ordinance No.
5032 relating to the City of Bremerton's 2008 annual budget.
COUNCIL ACTION: [2( Approve 0 Deny 0 Table
o Continue 0 No Action