Title
FY2023 Budget Amendment #2
History
A detailed spreadsheet reflecting budget adjustments is attached.
Summerfest Metal Detectors
For improved event security, the Village will be utilizing metal detectors along with the previously approved fencing. Total cost is $15,300.
Temporary Accountant
The Village Board approved a contracts with GovTemps USA for a temporary accountant (full time, $110,656) and Finance Manager (as needed, $27,300). This contract requires a budget amendment to fund those services. This amendment also reduces other costs to help offset the expense, including savings from the termination of the Third Millennium Associates contract for vehicle sticker processing, and salary and benefits for the vacant Financial Analyst position. Total net cost increase is $83,214.
Settlement
As part of a recent lawsuit settlement, the Insurance Fund will require an amendment in the amount of $112,500 to cover the additional expense.
Financial Impact
The attached spreadsheet identifies the budget impact.
Recommended Action/Motion
I move to approve expenditure increases in the Insurance Fund and General Fund in a total amount of $265,756, expenditure decreases in the General Fund in the amount of $54,742 as detailed on the FY2023 Budget Amendment #2.