HomeMy WebLinkAboutR-2024-137 Second Amendment to Fiscal Year 2024-2025 Annual Budget 1
RESOLUTION NO. R—2024-137
A RESOLUTION FOR SECOND AMENDMENT TO THE FISCAL YEAR 2024-2025 ANNUAL
BUDGET FOR THE CITY OF RIVERSIDE, MISSOURI.
WHEREAS, the Board of Aldermen adopted a fiscal year budget that begins on July 1,
2024 and ends on June 30, 2025; and
WHEREAS, expenditures beyond those anticipated in the Community Development Fund
for the purchase of land will be incurred; and
WHEREAS, transfers from the General Fund to the Community Development Fund
(Exhibit A)for the purchase of land will be incurred; 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 2024-
2025 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 2024-2025 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 2024-2025 is hereby approved and amended
authorizing and appropriating expenditures and transfers in the amount of $56,364,567 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;
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;
RESOLUTION NO. R—2024-137
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;
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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
17th day of December 2024.
,: • Mayor Kathleen L. Rose
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EXHIBIT A
FY 2024-25 Budget Amendment 2
FY 2025 FY 2025
Description Adopted Change Amended
Budget Budget
Community Development Fund
Land Acquisition $ 1,300,000 $ 800,000 $ 2,100,000
Transfers In $ (131,500) $ (800,000) $ (931,500)
General Fund
Transfers to Community Development Fund $ 131,500 $ 800,000 $ 931,500
Total Change $ 800,000
Current Amended Budget $55,564,567
Total City Budget After Amendment 2 $56,364,567