SUBJECT:
Title
Infrastructure Surtax Capital Project Fund - Multiple Cost Centers - $3,347,301
Body
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INITIATOR: |
DEPARTMENT: |
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James Banta, Fire Chief |
Fire Rescue and EMS |
DESCRIPTION/BACKGROUND:
During the budget process, funds are reappropriated based on amounts that have not been expended or are not anticipated to be expended by the end of the fiscal year. When purchasing apparatus, Fleet takes advantage of vendor prepayment discounts to secure production schedules and maximize surtax savings for capital equipment purchases. In accordance with accounting procedures, Finance applies these prepayments in the new fiscal year, as the expenditures cannot be fully recognized until the equipment is received and inventoried.
For the current fiscal year, eight (8) rescue vehicles, two (2) pumper chassis, one (1) pumper typhoon, one (1) brush truck, and one (1) water tanker remain pending delivery. The associated prepayment amounts exceed the funds originally projected for carry forward during the budget process. Therefore, a budget amendment is necessary to properly account for these expenditures in the current fiscal year. This amendment is strictly for accounting and budgetary purposes and does not increase or modify the total approved surtax budget.
BUDGET/IMPACT:
Neutral
RECOMMENDED ACTION:
Recommended action
Approve attached Budget Amendment Resolution.
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