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Mayor offers up budget amendments

Bremerton Mayor Patty Lent and her staff have put forward a mid-year budget amendment ordinance for city council approval.

“The budget adjustments are necessary to properly reflect the nature and extent of revenues and expenditures of the various city funds and departments,” wrote budget analyst Caroline Tompson. “The ending fund balances, as amended by this ordinance for the utility systems, meets the city’s adopted Financial Goals & Policies expectations.”

The council will likely take action on the proposed amendments next week.

Tompson notes that the general fund ending balance of $3,017,815 exceeds the 8.5 percent target level by $58,617 after the proposed adjustments. The 2013 budget, as proposed, increases the general fund ending balance by $676,257 over the previously adopted budget and includes a transfer of $230,000 to the Contingency Reserve Fund, demonstrating continued effort to build reserves.

According to Tompson, the fund balance for Gold Mountain Golf Course does not meet the city’s target, but with adjustments proposed under the new contract with Columbia Hospitality, the anticipated ending fund balance is increased by $332,256 which demonstrates progress.

Each year the city assesses its current fiscal year budget and addresses any needed adjustments. Adjustments for revenue and expenditures are brought forward to adjust the estimated beginning fund balances to actual levels; to account for subsequent unanticipated/unexpected conditions, to account for previously approved projects that were underway but unfinished in 2012 and require carryover expenditure authority, to reallocate revenue and expenditure line items within budget control categories with zero net increase, and to formally account for various council motions/resolutions previously approved during 2013.

The city’s 2013 budget was adopted Dec. 5 last year and a variety of issues are addressed in the amendment ordinance. A copy of the proposed ordinance is at www.ci.bremerton.wa.us.

 

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