HomeMy WebLinkAbout2024 - RESO 07 - Amend FY 2024 Budget for 2023 CarryoversCITY OF WHEAT RIDGE, COLORADO RESOLUTION NO. 07 Series of 2024
TITLE: A RESOLUTION AMENDING THE FISCAL YEAR 2024 BUDGET TO REFLECT THE APPROVAL OF A SUPPLEMENTAL BUDGET APPROPRIATION FOR THE RE-APPROPRIATION AND RE-ENCUMBRANCE OF 2023
FISCAL YEAR ENCUMBERED FUNDS IN THE AMOUNT OF $14,676,888.46. WHEREAS, the City’s independent auditor has recommended that the City utilize generally accepted accounting principles (GAAP) for its budgeting basis which requires
all encumbrances to expire at year end; and
WHEREAS, 105 purchase orders remained open on December 31, 2023; and WHEREAS, to continue these projects in 2024 a supplemental budget
appropriation is necessary to transfer the funds from unreserved fund balances to
specific 2024 budget line items: NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wheat Ridge, Colorado, as follows:
The City of Wheat Ridge fiscal year 2024 Budget be amended accordingly, specifically transferring a total of $14,676,888.46 from the following unreserved fund balances to specific 2024 Budget line items as detailed in the attached spreadsheets:
General Fund $ 2,450,011.13 Public Art Fund $ 117,365.50 Police Investigation Fund $ 5,400.00 Capital Project Fund $ 6,806,810.87
Open Space Fund $ 1,016,243.97 Renewal Wheat Ridge Bond Fund $ 4,220,321.99 Conservation Trust Fund $ 60,735.00 Total: $14,676,888.46
DONE AND RESOLVED this 26th day of February 2024. ________________________ Bud Starker, Mayor
ATTEST: ______ Margy Greer, Sr. Deputy City Clerk