Title
Ordinance No. 17-74 amending Ordinance No. 16-116 (2017 Appropriation Ordinance) for a supplemental appropriation to the General Fund in the amount of $137,265 for November 2017 election expense
Presenter:
Charae McDaniel, Acting Budget Director
Body
Summary:
The attached ordinance is a supplemental appropriation for the estimated cost of the election that will occur in November 2017, which was not included in the original budget.
Previous Council Action:
On November 22, 2016, City Council approved the original 2017 Budget per Ordinance No. 16-116.
On July 11, 2017, City Council approved a Resolution declaring the intention of the City of Colorado Springs, Colorado, to participate in the coordinated election to be held on November 7, 2017.
On August 7, 2017 City Council Work Session, staff introduced a Resolution referring an item to the November 7, 2017 ballot; this item is scheduled to be acted on at the August 22, 2017 Regular Session.
On August 22, City Council is also scheduled to act on the Resolution approving an Intergovernmental Agreement with El Paso County regarding the City's participation in the November 7, 2017 coordinated election.
Background:
The City is planning to participate in the coordinated election conducted by mail ballot on November 7, 2017. The estimated cost to the City of participating in this election is $137,265. The 2017 Budget included $350,000 of appropriation for election expenses. This amount was expended on the April municipal election and, therefore, additional appropriation is required for the November election expense.
Financial Implications:
The supplemental appropriation for the November election increases the 2017 General Fund expenditure budget by $137,265. The source of these funds is the General Fund available fund balance. This represents a 0.05% decrease in the unrestricted fund balance, and due to rounding, the unrestricted fund balance would remain at 14.1%.
Board/Commissi...
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