Title
Amend Ordinance S-46716 Adopting the 2020-21 Final Reappropriation Budget (Ordinance S-47664)
Description
An ordinance (Attachment A) amending Ordinance S-46716 adopting the 2020-21 Final Reappropriation Budget to authorize reallocating appropriations among lawfully available appropriations to ensure the continued operation of the City of Phoenix in the payment of necessary expenses.
Report
Summary
This amendment to the 2020-21 Final Reappropriation Budget will allow the City to close out the current fiscal year's budgetary accounts and proceed with the annual independent audit. This is part of the standard year-end process required to close the books.
Requested changes to the 2020-21 Reappropriated Funds Budget allow for year-end timing differences and allow for updated contract payment schedules. The 2020-21 Reappropriated Funds Budget ordinance was required to rebudget funds that were contractually committed in the prior fiscal year (2019-20) but not yet fully expended in that fiscal year. Since budget appropriations expire on June 30 of each fiscal year, the 2020-21 Reappropriated Funds Budget ordinance reestablished the appropriations for payment of vendors as goods and services were received.
These requested reallocations do not represent an actual transfer of funds, but rather, only a transfer of spending authority. Also, these reallocations do not increase or decrease the total budget.
Department
Responsible Department
This item is submitted by City Manager Ed Zuercher, Assistant City Manager Jeff Barton and the Budget and Research Department.