HomeMy WebLinkAbout2026-05-8878ORDINANCE NO. 2026-05-8878
AN ORDINANCE AMENDING ORDINANCE NO. 2025-06-8847, ENTITLED, "AN
ORDINANCE ADOPTING THE CITY OF PADUCAH, KENTUCKY, ANNUAL
OPERATING BUDGET FOR THE FISCAL YEAR JULY 1, 2025, THROUGH JUNE 30,
2026, BY ESTIMATING REVENUES AND RESOURCES AND APPROPRIATING FUNDS
FOR THE OPERATION OF CITY GOVERNMENT"
WHEREAS, general fund slippage was used for projects and contracts continuing into
the next fiscal year, including parks improvements ($7,465), parks and police camera projects
($228,343 and $40,000), the Albert Jones Park shelter ($32,000), the Carbon Reduction Program
grant match ($38,000), the public works camera project ($75,000), fire extrication tools
($36,350), and the fire department mental health support contract ($59,400);
WHEREAS, FEMA reimbursed the City for FY2025 flood expenses, and these FY2026
funds in the amount of $58,901 will be applied to the outstanding temporary pumps invoice;
WHEREAS, the 2025 Bulletproof Vest Grant in the amount of $8,589 was accepted,
requiring an equal local match from the police department's FY2026 operating budget;
WHEREAS, lien recoveries provided an additional $18,394 for reinvestment;
WHEREAS, donations totaling $4,140 were received to support the tree and bench
memorial;
WHEREAS, the Grubbs Phelps Endowment distributed $2,970 for City Hall landscaping,
and the Boyles Endowment distributed $45,810 for Greenway Trail projects;
WHEREAS, the FY2026 Paxton Park succession plan allocation of $25,000 was
transferred from the Investment Fund into a multi-year project;
WHEREAS, donations totaling $638 were received for additional non -grant Warrior
Wednesday expenditures;
WHEREAS, Bond Fund interest earnings exceeded the original budget by $572,757, and
bond interest totaling $1,021,938 is to be utilized for the BUILD project;
WHEREAS, the Marine Way rehabilitation project was initiated with $120,000 in
Municipal Aid Program funds and requires an additional $200,000 through a General Fund
transfer and will carry over into FY2027.
WHEREAS, West Park Village Phase 1 was funded in FY2026 by the Investment Fund,
and Phase 2 requires an additional $500,000 through a General Fund transfer and will carry over
into FY2027.
WHEREAS, expenditures increased by $772,843 in the debt service fund to reflect the
redemption of Bond Series 2013A and the defeasance of Bond Series 2018B approved by
Municipal Order No. 3212.
WHEREAS, additional budget is required to reflect increased health insurance activity,
with both revenues and expenditures rising by $247,475.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF PADUCAH,
KENTUCKY:
SECTION 1. That the annual budget for the fiscal year beginning July 1, 2025, and
ending June 30, 2026, as adopted by Ordinance No. 2025-06-8847, be amended by the following
re -appropriations:
0 Increase revenue and expenditures for the General Fund by $58,901
• Increase revenue and expenditures for the Capital Projects Fund by $2,471,988
• Increase revenue and expenditures for the Grant Fund by $638
• Increase expenditures for the Debt Service Fund by $772,843
• Increase revenue and expenditures for the Bond Fund by $572,757
• Increase revenue and expenditures for the Health Insurance Fund by $247,475
SECTION 2. This ordinance shall be read on two separate days and will become effective
upon summary publication pursuant to KRS Chapter 424
George Bray, Mayor
ATTEST:
mdsay Paris City Clerk
Introduced by the Board of Commissioners, May 12, 2026
Adopted by the Board of Commissioners, May 26, 2026
Recorded Lindsay Parish, City Clerk, May 26, 2026
Published by The Paducah Sun, May 29, 2026
\ord\finance\budget amend FY26 Midyear — May 2026