To: Board of Supervisors
From: Aviation
Agenda Section: Consent
Vote Requirement: 4/5th
SUBJECT:
title
Supplemental Budget for Murray Field Airport Budget Unit 3530-372 in the amount of $36,500 (4/5th Vote Required)
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RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Approve the Supplemental Budget (Attachment 1) to cover expenditures in the Murray Field Airport Budget Unit (3530-272) for fiscal year (FY) 2023-24.
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STRATEGIC PLAN:
This action supports the following areas of your Board’s Strategic Plan.
Area of Focus: Core Services/Other
Strategic Plan Category: 9999 - Core Services/Other
DISCUSSION:
The FY 2023-24 budget was initially adopted with the expectation of purchasing a half load of 100LL aviation fuel at current market rates. However, the cost of fuel increased significantly between when the budget was developed to when the wholesale fuel purchase was made. Additionally, the estimation for the Murray Field Airport (EKA) fuel tank Installation cost was made during the adoption of the FY 2023-24 budget and expenses for permitting and materials surpassed the initial projections. Consequently, the EKA budget has exceeded its allocation in the Supplies and Services and Equipment categories. To address this challenge, the Department of Aviation is seeking approval of the attached supplemental budget to augment expenditures by $36,500.
SOURCE OF FUNDING:
Aviation Enterprise Fund (3530)
FINANCIAL IMPACT:
|
Expenditures (3530372 2651) |
FY23-24 |
|
Additional Appropriation Requested |
$36,500 |
|
Total Expenditures |
$36,500 |
*Projected amounts are estimates and are subject to change.
|
Funding Sources (3530372 710050) |
FY23-24 |
|
Use of Fund Balance |
$36,500 |
|
Total Funding Sources |
$36,500 |
*Projected amounts are estimates and are subject to change.
Narrative Explanation of Financial Impact:
The Murray Field Airport (EKA) budget unit (3530-372) Services & Supplies category is currently overbudget and is expected to exceed the adopted budget by $25,000 and the Equipment category is currently over budget and is expected to exceed the adopted budget by $11,500. This supplemental budget request uses fund balance to increase the Supplies and Services category in FY 2023-24 in the amount of $25,000 and Equipment by $11,500. There is no impact to the General Fund.
STAFFING IMPACT:
There is no staffing impact associated with this item.
OTHER AGENCY INVOLVEMENT:
N/A
ALTERNATIVES TO STAFF RECOMMENDATIONS:
Your Board could choose not to approve the attached Supplemental Budget to increase expenditures by $36,500. However, this alternative is not recommended as expenditures cannot exceed appropriations in a budget unit.
ATTACHMENTS:
1. Supplemental Budget (3530372)
PREVIOUS ACTION/REFERRAL:
Meeting of: N/A
File No.: N/A