Submitted By
Steven Drazner, Chief Financial Officer
Reviewed By
AMZ
Agenda Item Title
Title
An Ordinance Amending the Fiscal Year 2021 Annual Budget.
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Overview
Overview
An ordinance is hereby presented to appropriate funds for FY21. Continuously, staff evaluates all expenditures and certain adjustments must be made based on various circumstances. On a quarterly basis (and sometimes more often if needed), these amendments are recommended to the Village Board for approval.
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Recommendation
Recommendation
Adopt the Ordinance.
Fiscal Impact
A summary of the amendments presented for Board consideration by Fund are summarized are as follows:
American Rescue Plan $14,079,820
CDBG $309,254
Farmer's Market $12,000
General $978,020
Health Grants $453,501
Motor Fuel $140,000
Parking $59,528
TOTAL $16,032,123
Included in the $16,032,123 are carryovers from the prior year of $309,254 and new funding requests of $15,722,869. However, the largest component of the new funding request includes non-cash interfund transfers-out from the new American Rescue Plan (ARP) Fund to the General, Sustainability, CIP, and Parking Funds for "lost" revenues. This interfund transfer-out from the ARP Fund of $14,079,820 will be offset with the same amount of corresponding revenue in the other four Funds mentioned and thus, will net out to zero overall.
Excluding the ARP interfund transfers-out, the new funding requests per this agenda item total $1,643,049, the largest component is $560,000 for firefighter overtime. Some of this overtime may possibly be reimbursable by FEMA if the Village can provide evidence that such overtime was a direct result of COVID-19 (i.e. transporting COVID patients, sanitizing the ambulance after transport, etc.). Any eligible firefighter/paramedic overtime which is identified as a direct result of COVID will be submitted to FEMA under the next and final batch of expenses.
In addition to firefighter overtime, ...
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