ITEM TITLE:
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Considering approving a resolution amending the City of Lawton FY 2023-2024 budget, as amended, by appropriating $1,378,775.01 to the 2019 CIP Sales Tax Fund and $241,349.43 to the Lawton Water Authority Fund for Oklahoma Water Resources Board loan payments.
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INITIATOR: Kristin Huntley, Interim Finance Director
STAFF INFORMATION SOURCE: Kristin Huntley, Interim Finance Director
BACKGROUND: The Lawton City Council previously approved multiple loans with the Oklahoma Water Resources Board; however, the loan payments were not included in the FY 2023-2024 budget. A budget amendment is needed to allocate $1,378,775.01 to the 2019 CIP Sales Tax Fund and $241,349.43 to the Lawton Water Authority Fund for the loan payments.
EXHIBIT: Resolution No. 24-_____
KEY ISSUES: None
FUNDING SOURCE: 2019 CIP Sales Tax and Lawton Water Authority Funds
STAFF RECOMMENDED COUNCIL ACTION: Approve Resolution No. 24-_____ amending the City of Lawton FY 2023-2024 budget, as amended, by appropriating $1,378,775.01 to the 2019 CIP Sales Tax Fund and $241,349.43 to the Lawton Water Authority Fund for Oklahoma Water Resources Board loan payments.