Title
Ordinance No. 15-86. The Annual Appropriation Ordinance adopting the annual budget and appropriating monies for the several purposes named in said budget for the year ending December 31, 2016
Body
From:
Kara Skinner, Chief Financial Officer
Summary:
At the October 29, 2015 Budget Markup Session, City Council approved a number of changes to the 2016 Budget released on October 5, 2015.
The attached Ordinance adopts the budgets and appropriates monies for each fund and reflects approved changes as line items.
The approved changes to the 2016 Budget are listed in attachments as follows:
? General Fund - Attachment A
? Employee Benefits Self-Insurance Fund - Attachment B
? Claims Reserve Self-Insurance Fund - Attachment C
? Workers' Compensation Self-Insurance Fund - Attachment D
? Trails, Open Space and Parks (TOPS) Fund - Attachment E
? Briargate SIMD Fund - Attachment F
? Nor'wood SIMD Fund - Attachment G
With these changes incorporated, the 2016 General Fund Budget totals $266,760,504.
Previous Council Action:
At the October 29, 2015 Budget Markup Session, City Council approved a number of changes to the 2016 Budget. Those changes are presented in Attachments A - G.
Background:
The Mayor transmitted the 2016 Budget to City Council on October 5, 2015, and the 2016 Budget was reviewed and discussed by City Council at two budget work sessions. Public input was received by City Council at a formal public hearing held on October 20, 2015.
Financial Implications:
The City's 2016 Budget, inclusive of all funds, totals $477,756,254, which is an increase of $34.0 million or 7.7% from the 2015 Budget. Excluding the Grant Funds in both years, there is an increase in the All Funds total of $49.6 million or 13.2% from 2015 to 2016.
The 2016 General Fund Budget totals $266,760,504. This represents an increase of $8,064,662, or 3.1%, above the original 2015 Budget.
Board/Commission Re...
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