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<br />February 14. 2006 <br /> <br />Ayes: Heretick, Moody, Psi mas, Randall, Smith, Whitehurst, Holley <br />Nays: None <br /> <br />06-81 Adoption of an ordinance to amend the FY 2006 General Fund Operating <br />Budget by increasing appropriations by $2,000,000 to provide cash funding <br />for the joint City/Schools Financial System Project previously authorized and <br />appropriated within the Capital Improvements Program for FY 2006. Vision <br />Principle: Bold New Directions and Lifelong Learning Community. <br /> <br />Background: <br />. In August 2004, the City and Schools administrations began discussions and <br />agreed on the mutual need for a fully automated and integrated financial system <br />through a joint City/Schools project. <br />. In September 2005, the Schools submitted $963,486 in excess revenues to the <br />City that was re-appropriated in the City's Capital Improvements Fund for a joint <br />City/Schools financial system project. <br />. In May 2005, the City's FY 20065 Year Capital Improvement Program (CIP) was <br />adopted, which included an additional appropriation of $2,000,000 for the joint <br />City/Schools financial system project. <br />. In December 2005, the City's Comprehensive Annual Financial Report for the FY <br />ended June 30, 2005 was issued, which designated $2,000,000 of General Fund fund <br />balance for the project. <br /> <br />Discussion: <br />. The joint City/Schools financial system project team issued an RFP, short-listed <br />two vendor proposals, and is currently performing its due diligence through vendor <br />interviews, site visits and client references. <br />. The City is committed to funding public education, including the joint City/Schools <br />financial system. <br />. Financial Impact: There is no net financial impact on the City. <br /> <br />Staff Recommends: <br />Adoption of an Ordinance to amend the FY 2006 General Fund Operating Budget by <br />increasing appropriations by $2,000,000 to provide cash funding for the joint <br />City/Schools Financial System Project previously authorized and appropriated within the <br />Capital Improvements Program for FY 2006. Vision Principle: Bold New Directions and <br />Lifelong Learning Community. <br /> <br />Next Steps Following Council Action: <br />. The CFO will ensure that a budget action to increase General Fund <br />appropriations and a journal entry to transfer funds from the General Fund to the Capital <br />Improvements Fund are processed immediately. <br />. The CFO will also continue to manage the joint City/Schools financial system <br />project together with the Director of Information Technology and the School's Assistant <br />Superintendent for Budget & Finance. <br /> <br />Motion by Mr. Whitehurst, and seconded by Ms. Randall, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br />"ORDINANCE INCREASING THE FY 2005-2006 OPERATING BUDGET BY <br />$2,000,000 AND APPROPRIATING THE SAME AMOUNT IN THE FY 2005-2006 <br />GENERAL FUND OPERATING BUDGET TO PROVIDE CASH FUNDING FOR THE <br />JOINT CITY/SCHOOLS FINANCIAL SYSTEM." <br /> <br />Ayes: Heretick, Moody, Psi mas, Randall, Smith, Whitehurst, Holley <br />Nays: None <br />