TOTAL BUDGET AMENDMENT: $600,000

Includes:

1. Application of Unassigned Cash for additional funds for unbudgeted projects - $300,000
2. Increase to project expense budget to match unanticipated grant revenue - $300,000

This is the second budget amendment to the FY2013-2014 approved budget and has been scheduled for Council consideration at the March 18, 2014 meeting.  Following is a summary of the budget amendment categories:

1. Application of Unassigned Cash for additional funds for unbudgeted projects:  The proposed budget amendment includes a request not previously budgeted in the 1% Fund totaling $300,000.  The funding for this project would come from cash reserves established through prior year savings realized in other projects.  The request in this category is for the FY14 Spring Cleanup, which, per Council direction, will be funded from the 1% Fund.

2. Increase to project expense budget to match unanticipated grant revenue:  This category includes a request to increase the project expense budget for the Gillette Avenue Reconstruction project based on increased grant funding.  The FY2013-2014 approved budget includes budgeted grant revenue of $700,000 for this project.  The Wyoming Business Council awarded the City $1,000,000.  This request would increase the project expense budget from $6,150,000 to $6,450,000 to match the increased grant funding.

A detailed itemization of the budget amendment requests is attached.  Both requests included for your consideration have been reviewed and recommended for approval by the Finance Department and Administration.