Subject:
Title
Consider Finance Committee Fund Balance recommendations to council
body
Presented By: Kurt D. Hodgen
Recommendation and Review
The Finance Committee met last month to consider recommendations relative to the Unappropriated Fund Balance at fiscal year-end, June 30, 2015. Those recommendations are listed below and included on the attached spreadsheet.
1. Use of $748,372 to balance current year budget (this is a one-time amount for a radio system upgrade project for the ECC).
2. Reserve $1,200,000 for architectural/engineering services for the new school project.
3. Reserve $520,000 for non-recurring capital outlay items in the FY 15-16 budget.
4. Reserve $150,000 for predevelopment costs associated with the Hotel Conference Center project.
5. Reserve $200,000 for Fire Programs and Four-for-Life Fund