Title
ORDINANCE NO. O17-32
AN ORDINANCE OF THE COUNCIL OF THE CITY OF GLENDALE, MARICOPA COUNTY, ARIZONA, AUTHORIZING CASH AND APPROPRIATION BALANCE TRANSFERS BETWEEN BUDGET ITEMS IN THE ADOPTED FISCAL YEAR 2016-2017 BUDGET.
Staff Contact: Vicki Rios, Director, Budget and Finance
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Purpose and Policy Guidance
This is a request for City Council to waive reading beyond the title and adopt an ordinance approving certain Fiscal Year 2016-2017 (FY16-17) budget amendments. The City of Glendale's FY16-17 budget appropriation across all funds remains unchanged with this action. Exhibit A contains the requested appropriation transfers between departments and funds consistent with Article VI, Section 11 of the City Code and consistent with Resolution No. 5038 supporting the Cash and Budget Appropriation Transfer Policy.
Background
A budget amendment is required to transfer appropriation authority or cash between funds. The budget represents a planning document for spending that is established in advance of the fiscal year. Budget amendments are typically needed to reflect changes to the spending plan during the course of the year. Cash transfers can occur with a corresponding appropriation transfer between funds to be used to fund and establish a budget for a specific purpose in a separate fund. Cash only transfers can also occur between funds to establish funding for current or future appropriated expenditures.
As actual spending activity occurs, transfers of appropriation authority within and between departments and funds are required to reflect changes to the initial spending plan. Changes to the initial spending plan typically arise from:
* Actual expenses being higher than originally budgeted;
* Unexpected expenses associated with unforeseen circumstances;
* Planned spending patterns do not occur when work plans are modified to address changing circumstances; and
* Reconciliation of carryover estimates (usually for capital improvement projects) i...
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