ITEM TITLE:
Title
Consider approving a resolution amending the City of Lawton FY23-24 budget, as amended, by appropriating Seven Hundred Twenty-Three Thousand Forty-One and 98/100 Dollars ($723,041.98) to the Hotel/Motel, General, Cellular Phone System and Capital Improvements/Propel 2019 Funds.
body
INITIATOR: Joe Don Dunham, Finance Director
STAFF INFORMATION SOURCE: Joe Don Dunham, Finance Director
BACKGROUND: In accordance with the True North Culture of transparency, trust, and efficiency a budget amendment is needed to appropriate funds for the following reasons: (1) allocating five hundred twenty-seven thousand, six hundred fifty-five and 94/100 dollars ($527,655.94) which was received from FEMA to provide additional funding for the Lake Ellsworth Dam Improvement Project, which is the intended use for these funds; (2) allocating three thousand and 00/100 dollars ($3,000.00) for reimbursement of training funds which were paid from the Cell Phone System Fund; and (3) After a reconciliation of Lawton Enhancement Trust Authority (LETA) a budget amendment is needed to increase the Freedom Festival Celebration and general LETA roll-over funds for a total One Hundred Ninety-Two Thousand Three Hundred Eighty-Six and 04/100 dollars (192,386.04).
EXHIBIT: Resolution No. 24-___________
KEY ISSUES: Does the City Council want to proceed with these adjustments
FUNDING SOURCE: This is a rather routine budget amendment to allocate funds which have been received.
STAFF RECOMMENDED COUNCIL ACTION: Vote to approve a resolution amending the City of Lawton FY23-24 budget, as amended, by appropriating Seven Hundred Twenty-Three Thousand Forty-One and 98/100 Dollars ($723,041.98) to the General Fund, 2019 Capital Improvement Fund to fund improvements to the Lake Ellsworth Dam, E911 Cellular Phone system, Lawton Freedom Festival and LETA roll-over.