IMPORTANT BUDGET UPDATE!

Thank you to everyone for all the hard work over the past few weeks!

As we enter the final stretch we wanted to share some important information with you. First, we have posted two new reports out on the budget entry tab for your use. We have made changes to the GL5007 report to reflect the level of review that will be conducted with Mike and broken out rev and expenditures to ease the use and limit confusion. These reports are being reviewed and tied out to the AS400 as we speak, so there may be small changes in the coming days, but they are materially correct. Two changes to the reports that are pending are the posting in Water and MDF accounts for capital items to get to a budgetary basis (adding back capital expenses and removing depreciation) and moving nonrecurring items from 2008 and nonrecurring budget from 2009. These changes should not impact your reviews, however, if you want to check nonrecurring items are all listed on the quarterly report that goes to council.

On Monday, we will be rolling the current budget entry from the 05 you are entering into to a finance version. Next week, finance will be reviewing all entries and working with departments to correct any glaring issues. All adjustments posted will be tied to the finance version so we can track them. After that review, we will roll the finance version to the City Manager version for Mike’s review with the departments. Any of Mike’s adjustments will reside in the City Manager version for tracking purposes.

Again we really appreciate everyone’s patience during this process, with new software, chart of accounts and numerous department changes over the past two years, this budget entry has been a challenge, but everyone has done a great job in preparing and entering so far!

Budget Team