HomeMy WebLinkAbout~Master - Final budget adjustments for FY 2003/04 RESOLUTION NO. 03-255
RESOLUTION APPROVING FINAL BUDGET ADJUSTMENTS
FOR FISCAL YEAR 2003/04
FOR THE CITY OF AMES
WHEREAS,the Governor recently signed the"Reinventing Government"bill that eliminates
an estimated $645,000 of annual state financial assistance to Ames beginning July 1, 2003; and,
WHEREAS, elimination of this important non-property tax revenue source in the General
Fund took place after the City's budget was certified to the State; and,
WHEREAS,this financial crisis is made worse with new projections that indicate the 12.5%
increase included in the City's 2003/04 budget for projected health care costs will not be sufficient;
and,
WHEREAS, the City Manager has recommended a list of budget adjustments totaling
$739,423; and,
WHEREAS, the recommended budget adjustments include a reduction in expenses of
$445,393, $201,710 in increased revenues and $92,320 in revenue shifts.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames,Iowa,
that the City Manager's recommended one-time budget adjustments for 2003/04,as attached hereto,
are hereby approved.
ADOPTED THIS 24th day of June, 2003.
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Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Goodhue
Seconded by: Mahayni
Voting aye: Cross, Goodhue, Mahayni, Vegge, Wirth
Voting nay: None Absent: Hoffinan
Resolution declared adopted and signed by the Mayor this 24t'of June, 2003.