SUBJECT:
Title
PUBLIC HEARING: An Ordinance of the Town Council of the Town of Erie Providing for the Supplemental Appropriation of Money to Various Funds for the 2024 Budget Year
Body
DEPARTMENT: Finance
PRESENTER: Sara Hancock, Director of Finance
Cassie Bethune, Finance Manager
TIME ESTIMATE: 10 minutes
only required for non-consent items
FISCAL SUMMARY:
Cost as Recommended: See Ordinance and Packet
Balance Available: Various
Budget Line Item Number: Various
New Appropriation Required: Yes
POLICY ISSUES:
Need for supplemental appropriation to accommodate the vehicle suppliers’ schedules and to take advantage of current pricing.
STAFF RECOMMENDATION:
Recommendation
Staff recommends the Council approve the ordinance that provides for a supplemental appropriation for the 2024 budget year; this resolution facilitates procurement of 2025 fleet requests to enable timely manufacturer and vendor ordering.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Town of Erie adopted the 2024 Budget on Nov. 14, 2023. Staff is currently preparing the 2025 budget for the Council review and approval, which typically includes leases of new and replacement Fleet vehicles and equipment. However, due to updates to the timing required to place orders, the Town is looking to receive approval for leases and equipment in a special 2024 Fleet supplemental. Funds would be appropriated in 2024 to place orders, and in 2025 this budget would “rollover” to offset the appropriate expenses when vehicles and equipment are delivered in 2025.
Fiscal Impact:
The fiscal impact on each fund is described in the accompanying ordinance and packet.
Council Priorities Addressed:
ü Attractive Community Amenities
ü Engaged and Diverse Community
ü Prosperous Economy
ü Well-Maintained Transportation Infrastructure
ü Small Town Feel
ü Safe and Healthy Community
ü Effective Governance
ü Environmentally Sustainable
ü Fiscally Responsible
ATTACHMENTS:
1. Ordinance 037-2024 and Schedule A
2. Fleet Supplemental Memo
3. Fleet Supplemental Reports