Review mid-year budget forecast and approve spending adjustments for current fiscal year
In Plain English
The city tracks its budget halfway through each fiscal year to see if actual spending matches projections. Staff identified areas where the city needs to move money between departments or adjust spending limits. The adjustments keep the city operating smoothly for the remaining 6 months of the fiscal year.
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Votes
Motion · Official minutes
Adopt City of Richmond Resolution No. 11-11 approving the proposed FY 2010-11 budget adjustments with additional information on the Port and the Southside Police Substation and Redevelopment Agency Resolution No. 11-5 approving and adopting the mid year adjustments to the Five-Year 2010-2015 Capital Project and Program Budget for the Agency in the amount of $90,997,000
3 aye · 0 nay · 1 absent
Why This Vote Matters
The council unanimously approved mid-year budget adjustments to reallocate money between city departments and modify spending limits for the remainder of fiscal year 2010-11. This routine financial housekeeping ensures the city can continue operating smoothly by moving funds where they're most needed based on actual spending patterns over the first six months. The adjustments also included $91 million in changes to the city's five-year capital projects budget for the Redevelopment Agency. One council member was absent from this administrative vote.
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