HomeMy WebLinkAbout62-15 RESOLUTIONRESOLUTION NO. 62-15
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE
AMOUNT OF $1,375,000.00 TO FUND THE CITY-WIDE 2015 EMPLOYEE
COMPENSATION ADJUSTMENT
WHEREAS, the most recent forecast shows that City will have a net operating surplus
for the General Fund of about $1,700.00 for 2014; and
WHEREAS, Mayor Jordan's proposed Employment Compensation Adjustment will cost
the General Fund about $985,000.00 for 2015 for General Fund employees; and
WHEREAS, including all employees (Water and Sewer, Solid Waste, etc. as well as
General Fund employees), the cost will be about $1,375,000.00 for 2015.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a
budget adjustment, a copy of which is attached to this Resolution and made a part hereof, in the
amount of $1,375,000.00 to fund the city-wide 2015 Employee Compensation Adjustment.
PASSED and APPROVED this 3rd day of March, 2015.
APPROVED:
ATTEST:
By: ��
SONDRA E. SMITH, City Clerk/Treasurer
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City of Fayetteville, Arkansas 113 West Mountain Street
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Text File
File Number: 2015-0081
Agenda Date: 3/3/2015 Version: 1 Status: Agenda Ready
In Control: City Council File Type: Resolution
Agenda Number: C. 4
2015 EMPLOYEE COMPENSATION ADJUSTMENT
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $1,375,000.00
TO FUND THE CITY-WIDE 2015 EMPLOYEE COMPENSATION ADJUSTMENT
WHEREAS, the most recent forecast shows that City will have a net operating surplus for the General
Fund of about $1,700.00 for 2014; and
WHEREAS, Mayor Jordan's proposed Employment Compensation Adjustment will cost the General
Fund about $985,000.00 for 2015 for General Fund employees; and
WHEREAS, including all employees (Water and Sewer, Solid Waste, etc. as well as General Fund
employees), the cost will be about $1,375,000.00 for 2015.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget
adjustment, a copy of which is attached to this Resolution and made a part hereof, in the amount of
$1,375,000.00 to fund the city-wide 2015 Employee Compensation Adjustment.
City of Fayetteville, Arkansas Page 1 Printed on 31612015
Paul A. Becker
Submitted By
City of Fayetteville Staff Review Form
2015-0081
Legistar File ID
3/3/2015
City Council Meeting Date - Agenda Item Only
N/A for Non -Agenda Item
2/11/2015 Chief Financial Officer/
Finance & Internal Services Department
Submitted Date Division / Department
Action Recommendation:
A RESOLUTION APPROVING A BUDGET AMENDMENT IN THE AMOUNT OF $1,375,000 TO FUND A CITY-WIDE 2015
EMPLOYEE COMPENSATION ADJUSTMENT.
Budget Impact:
xxxx.xxxx.51xx.xx CITYWIDE
Account Number Fund
N/A N/A
Project Number
Budgeted Item? Yes
Does item have a cost? No
Budget Adjustment Attached? Yes
Previous Ordinance or Resolution #
Original Contract Number:
Comments:
Current Budget
Funds Obligated
Current Balance
Item Cost
Budget Adjustment
Remaining Budget
Project Title
$ 47,902,194.00
$ 6,006,615.54
4.,695,576.46
$ 1,375,000.00
$ 43,270,57&46
V20140710
Approval Date:
CITY OF
ayVlqARKANS
MEETING OF MARCH 3, 2015
TO: Mayor and City Council
THRU: Don Marr, Chief of Staff
CITY COUNCIL AGENDA MEMO
FROM: Paul A. Becker, Chief Financial Officer
DATE: February 13, 2015
SUBJECT: Appropriation Authority for Employee Compensation Adjustments
RECOMMENDATION:
The Mayor's recommendation is for the City Council to appropriate funds to
provide for the compensation package outlined above.
DISCUSSION:
As discussed during the 2015 Budget process, the Mayor is recommending a
compensation package to the City Council based on the fiscal results of 2014
operations. The operating results from the fourth quarter of 2014 have been
forecasted to be a net operating surplus of approximately $1.7 million in the
General Fund. This is after adjusting for reserve transfers for the purchase of
Mount Kessler and the parking deck.
This surplus was achieved primarily through expense control. The Administration
was able, through good management, to hold expenditures under budget.
Revenue was approximately as projected on an overall basis.
Other operating funds such as the Street, Parks Development, Water & Sewer
and Recycling & Trash Collection funds have the capacity to afford these salary
increases.
Mailing Address:
113 W. Mountain Street www.fayetteville-ar.gov
Fayetteville, AR 72701