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City of Missoula, Montana Item to be Referred to City Council Committee Committee: A & F Item: Set Public Hearing to amend the FY 2009 budget to appropriate expenditures that were not identified in the original budget Date: September 25, 2009 Prepared by: Brentt Ramharter Initiated by: Brentt Ramharter Action Required: Set Public Hearing to amend the FY 2009 budget to appropriate expenditures that were not identified in the original budget. Recommended Motion: I move the City Council set a public hearing on the proposed additional appropriations that were previously approved as projects by the city council but not formally added to the budget. Timeline: Referral to committee: September 25, 2009 Committee discussion: September 30, 2009 to set hearing and hold in committee for discussion purposes until hearing Deadline: Have council approve ASAP. Background and Alternatives Explored: The city council has authorized a number of significant transactions during FY 2009 that need to be formally recognized in the budget for FY 2009 to close the year out. Because we are required to utilize the accrual method of expenditure recognition for our accounting and budgeting by state law (and for audit requirements), we have just closed our books for the prior fiscal year and made the final FY 2009 payments to vendors for work performed as of June 30, 2007 (many invoices did not get generated and presented for payment until July, August and September). We are now processing just those amendments needed to address the areas needing attention. Financial Implications: This must be approved be approved to finalize the budget for FY 2009. Attachments: Resolution Budget Amendments Exhibit A