M E M O R A N D U M
To: Honorable Mayor and Town Council
From: Rafael G. Casals, Town Manager
Date: November 20, 2013
Re: Fiscal Year 2012-13 Budget Amendment
REQUESTTitle
A RESOLUTION OF THE MAYOR AND TOWN COUNCIL OF THE TOWN OF CUTLER BAY, FLORIDA, AMENDING RESOLUTION 12-49, WHICH ADOPTED THE BUDGET FOR THE 2012/2013 FISCAL YEAR BY REVISING THE 2012/2013 OPERATING AND CAPITAL BUDGET AS OUTLINED IN EXHIBIT “A” ATTACHED HERETO; AUTHORIZING THE TOWN MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE PROVISIONS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE.
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BACKGROUND AND ANALYSIS
State statutes allow for amending the budget legally adopted by the Town Council up to 60 days after the end of the fiscal year. This allows the Council to provide for items not anticipated or not fully known when the original budget was adopted. It also allows the Council to adjust balances between line items within departments or to reallocate funds among departments based on circumstances that transpired during the fiscal year.
The Town requires such an amendment for fiscal year 2012-13 which will need to be adopted within the “60 days after year end” time frame. Attachment “A” reflects the budget changes proposed by Staff.
The proposed budget amendment is in balance and has no negative impact on the adopted budget.
RECOMMENDATION
Staff recommends Council adopt the resolution amending the fiscal year 2012-13 budget attached hereto as Attachment “A”.