TITLE
Recommendation to use City Auditor Office budget savings from FY19, increase appropriations in the General Fund by $288,000 and in the Tidelands Operations Fund by $65,000 in the City Auditor Office.
DISCUSSION
We are requesting the ability to appropriate $353,000 of the City Auditor Office (Office) FY19 budget savings to FY20 to pay for various contracted audits. Towards the end of FY19, the Office initiated contracts for two audits needing outside expertise: airport construction and homelessness. In addition, during the beginning of FY20, the Office announced that it will partner with a forensics accounting firm to audit the City’s lease agreement with the Queen Mary, which is part of the Tidelands area. Final costs for the Queen Mary audit have not been determined; therefore, we are requesting the entire surplus for the City Auditor Office to ensure coverage of these audit costs.
TIMING CONSIDERATIONS
City Council action is requested on January 14, 2020 to guarantee availability of funds to spend on the indicated purpose.
FISCAL IMPACT
There is no cost to the City as this budget adjustment is using unspent FY19 funds. An appropriation increase is requested in the General Fund in the City Auditor Office by $288,000 and in the Tidelands Operating Fund by $65,000. There are sufficient fund balances from the City Auditor Office’s FY19 budget savings to support this request.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
LAURA L. DOUD, CPA
CITY AUDITOR