HomeMy WebLinkAboutR-2024-016 Amending the Fiscal Year 2023-24 Annual Budget for the City of Riverside RESOLUTION NO. R —2024-016
A RESOLUTION AMENDING THE FISCAL YEAR 2023-24 ANNUAL BUDGET FOR THE CITY
OF RIVERSIDE, MISSOURI.
WHEREAS, the Board of Aldermen adopted a fiscal year that begins on July 1 of each
year and ends on June 30 of the following year; and
WHEREAS, expenditures beyond those anticipated in the General Fund for the board of
aldermen compensation will be incurred; and
WHEREAS, expenditures beyond those anticipated in the Community Development Fund
for the purchase of land will be incurred; and
WHEREAS, expenditures beyond those anticipated in the Capital Improvements Fund for
the Homestead Park Improvements will be incurred; and
WHEREAS, revenues beyond those anticipated in General Fund from the Soccer
Complex Parcel Project will received; and
WHEREAS, the Finance Director, in consultation with city staff, the City Administrator, and
the Mayor and Board of Aldermen, have prepared a proposed amendment for Fiscal Year 2023-
2024 and submitted it to the Board of Aldermen, in accordance with Chapter 67 of the Missouri
Revised Statutes; and
WHEREAS, the Board of Aldermen has studied, examined, and discussed the proposed
budget in public meetings and amended the proposed budget with such revisions, alterations,
increases or decreases as the Board deems advisable; and
WHEREAS, the total expenditures from the various funds in the proposed budget, as
amended by the Board of Aldermen, do not exceed the estimated revenues to be received plus
any unencumbered balances, as required by Chapter 67 of the Missouri Revised Statutes; and
WHEREAS, the Board of Aldermen find it is in the best interest of the citizens of the City
of Riverside to amend the Fiscal Year 2023-2024 Budget attached hereto and made a part hereof
by reference;
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN FOR THE
CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
THAT the Annual Budget for the Fiscal Year 2023-2024 is hereby approved and amended
authorizing and appropriating expenditures and transfers in the amount of $58,077,209 as set
forth in Exhibit A attached hereto and incorporated herein.
FURTHER THAT said budget includes the following information:
a. A budget message, describing the important features of the budget and major changes
from the preceding year;
RESOLUTION NO. R —2024-016
b. Estimated revenues to be received from all sources for the budget year, with a
comparative statement of actual or estimated revenues for the two years next
preceding, itemized by year, fund, and source;
c. Proposed expenditures for each department, office, commission, and other
classification for the budget year, together with a comparative statement of actual or
estimated expenditures for the two years next preceding, itemized by year, fund,
activity, and object;
c. The amount required for the payment of interest, amortization, and redemption
charges on the debt of the political subdivision; and
e. A general budget summary.
PASSED AND ADOPTED by the Board of Aldermen of the City of Riverside, Missouri the
6th day of February 2024.
‘6?(%1. "VI/DA41
f ' ayor Kathleen L. Rose
ATT✓
Robin Kincaid, ity Clerk
Budget Amendment Summary for Amendment 2,FY 2024
FY 2024 FY 2024
Description Adopted Budget Change Amended Budget
REVENUE
General Fund- Lease Payments Revenue- 10-000-40992
$ - $ 240,668 $ 240,668
EXPENSES
General Fund- Elected Officials Part-Time Salaries- 10-102-000-10200
$ 29,000 $ 6,720 $ 35,720
Community Development Fund -Land Acquisitions-22-067-000-53000
$ - $ 375,770 $ 375,770
Community Development Fund- Neighborhood Improvements 22-077-000-21305
$ 250,000 $ (150,000) $ 100,000
Capital Improvements Fund -Homestead Park Improvements-21-074-000-53000
$ 350,000 $ 40,000 $ 390,000
Total Change $ 31,822
Current Budget $ 58,045,387
Total After Amendments $ 58,077,209