Title
Budget Adjustments 2nd Quarter 2019 - Approval
History
A detailed spreadsheet (by fund) of budget adjustments is attached showing an increase in revenues of $90,147 and an increase in expenditures of $90,147.
The increase in revenues is due to the following:
• Increase transfer from Home Rule Sales Tax Fund to Recreation and Parks Fund in the amount of $26,328.
• Reduce transfer from Home Rules Sales Fund to Capital Improvement Fund in the amount of $26,328.
• Increase revenue for rebates received from ComEd for LED street light conversion in the amount of $90,147.
The increase in expenditures is due to the following:
• Increase expenditures for LED street lighting upgrade project in the amount of $90,147.
• Reduce expenditures related to various IDOT projects in the amount of $26,328.
• Increase transfer from Home Rule Sales Tax Fund to Recreation and Parks Fund in the amount of $26,328.
• Reduce transfer from Home Rules Sales Fund to Capital Improvement Fund in the amount of $26,328.
• Increase expenditures related to Helen Park - Path Improvements in the amount of $26,328.
Financial Impact
The attached spreadsheet identifies the budget impact.
Recommended Action/Motion
I move to approve increasing the FY2019 revenue budget by $90,147 and increasing the FY2019 expenditure budget by $90,147.