HomeMy WebLinkAbout2024-05-8811ORDINANCE NO. 2024-05-8811
AN ORDINANCE AMENDING ORDINANCE NO. 2019-06-8578, ENTITLED, "AN ORDINANCE
ADOPTING THE CITY OF PADUCAH, KENTUCKY, ANNUAL OPERATING BUDGET FOR THE
FISCAL YEAR JULY 1, 2019, THROUGH JUNE 30, 2020, BY ESTIMATING REVENUES AND
RESOURCES AND APPROPRIATING FUNDS FOR THE OPERATION OF CITY GOVERNMENT"
WIIEREAS, by Ordinance No. 2019-06-8578, the City of Paducah authorized the City of
Paducah's annual budget for FY2020; and
WHEREAS, as part of the FY2020 budget, $250,000 was transferred to the General Fund and
designated as a Committed Pension Reserve in the Fund Balance; and
WHEREAS, the City also designated a "Committed Pension Reserve" in the Fund Balances of
the General fund and Investment fund in the amounts of $243,165 and $177,200, respectively; and
WHEREAS, these commitments totaled $670,365 which has remained untouched since the
initial commitment in FY2020; and
WHEREAS, the City of Paducah now wishes to withdraw this commitment as outlined in
Ordinance 2019-06-8578 and transfer $670,365 from General Fund Fund Balance to Project Account EQ0036;
and
WHEREAS, this amendment will allow the funds to be used for radios for City Departments as
part of the 911 Radio Upgrade Project.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the annual budget for the fiscal year beginning July 1, 2019, and ending June
30, 2020, as adopted by Ordinance No. 2019-06-8578, is hereby amended to withdraw the commitment of
$250,000 from Committed Pension Reserve in the Fund Balance. Further, said ordinance is hereby amended to
withdraw the commitment to "Committed Pension Reserve" in the Fund Balances of the General fund and
Investment fund in the amounts of $243,165 and $177,200, respectively. Further, Ordinance No. 2019-06-8579
is hereby amended by the following re -appropriations:
• Transfer $670,365 from General Fund Fund Balance to Project Account EQ0036.
SECTION 2. This ordinance shall be read on two separate days and will become effective upon
summary publication pursuant to KRS Chapter 424. D
7 -
George Bray, Mayor
ATTEST:
:laudia Meeks, Assistant City Clerk
Introduced by the Board of Commissioners, April 23, 2024
Adopted by the Board of Commissioners, May 14, 2024
Recorded Claudia Meeks, Assistant City Clerk, May 14, 2024
Published by The Paducah Sun, May 18, 2024
\ord\finance\budget amend FY2020 — 911 Radios