HomeMy WebLinkAbout07/07/2010 6C DATE SUBMTTTED: June 25, 2010
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
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SUBJECT: Passage of Ordinance No. Study Session Date: June 23, 2010
51r 7 Amending Ordinance No. COiJNCIL MEETING Date: July 7, 2010
5099 = Modifying the 2010 Department: Financial Services
Annual Budget. Presenter: Bazbara Stephenson
Phone: 473-5722
SUMMARY: The Bremerton City Council adopted the 2010 annual City budget by Ordinance No.
5099 on December 2, 2009. Ending fund balances for 2009 were lower than anticipated. Current
revenue projections anticipate a shortfall in budgeted revenue requiring a reduction in expenditure
authority. The amendment also incorporates council actions taken since the budget was adopted as
well as previously unbudgeted cazryovers.
ATTACHMENTS: Ordinance and attachments, explanatory memo and detailed fund recaps
FISCAL IMPACTS (Include Budgeted Amount): A number of the City funds 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
2010 budget as proposed includes an ending fund balance which does not meet the target, but is
increased from the actual by $71,516 demonstrating advancement being made toward achieving the
target. The 2011 financial planning and budget process will need to ensure that this condition does
not deteriorate any further and must place a priority on improving the fund balance back towazds
meeting the target fund balance level of 8.5%.
APPROVALS:
DEPARTMENT DIRECTOR:
CTTY ATTORNEY:
FINANCE DIItECTOR:
MAYOR: �
COMMITTEE CHAIR , - �_
COUNCIL PRESIDENT: , CONSENT AGENDA ❑
GENERAL BUSINESS �
PUBLIC HEARING ❑
RECOMMENDED MOTION: Move to approve Ordinance No. 5l (,7_ amending Ordinance No.
5099 which adopted the 2010 Fiscal Year budget.
COUNCIL ACTION: [�Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action
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