HomeMy WebLinkAbout2022-04-8734ORDINANCE NO. 2022-04-8734
AN ORDINANCE AMENDING ORDINANCE NO. 2021-06-8692, ENTITLED,
"AN ORDINANCE ADOPTING THE CITY OF PADUCAH, KENTUCKY, ANNUAL
OPERATING BUDGET FOR THE FISCAL YEAR JULY 1, 2021, THROUGH JUNE 30,
2022, BY ESTIMATING REVENUES AND RESOURCES AND APPROPRIATING FUNDS
FOR THE OPERATION OF CITY GOVERNMENT"
WHEREAS, FY2022 budget appropriated $200,000 to the City Facilities
Improvement Project Account PF0079 for future use for major facility improvements; and
WHEREAS, in order to make city facility improvements, sufficient funds must be
accumulated; and
WHEREAS, to further enhance the project's available balance, the City
Commission desires to approve a budget amendment to transfer $600,000 from the Investment
Fund to said project funded with FY2022 Investment Fund reserves, bringing the total project
balance to $800,000; and
WHEREAS, KRS prohibits expenses to exceed the budget in any department and
it is therefore necessary to amend the City's FY2022 budget.
KENTUCKY:
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF PADUCAH,
SECTION 1. That the annual budget for the fiscal year beginning July 1, 2021,
and ending June 30, 2022, as adopted by Ordinance No. 2021-06-8692, be amended by the
following re -appropriations:
• Transfer $600,000 from Fund Balance Reserves to the City Improvement
Project (PF0079).
SECTION 2. This ordinance shall be re
a�t3o�parate days and will become
effective upon summary publication pursuant to !SOAI
George Bray,
ATTEST:
Lindsay Pars , City Clerk
Introduced by the Board of Commissioners, April 12, 2022
Adopted by the Board of Commissioners, April 26, 2022
Recorded Lindsay Parish, City Clerk, April 26, 2022
Published by The Paducah Sun, April 29, 2022
\ord\finance\budget amend 2021-22 - April 2022 — City Facilities