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  Item #   4. B. 1.    
City Council
Meeting Date: 05/28/2019  
Submitted For: Warren Porter Submitted By: Nagesh Chopra, Finance

Information
Item
Approval of Resolution No. ______ Authorizing the spending above the 90% limit as designated by the Oklahoma Municipal Budget Act of 1979.
Background
State law provides that once the City reaches 90% revenue in the General Fund, the City Council must authorize the spending above that level. As we approach the end of the year, our revenue has exceeded the 90% level, and consequently, the Council needs to consider this resolution.
Time Frame
Needs approval prior to the end of the fiscal year.
Issue
In order to maintain compliance with the State Budget Act of 1979, approval of the resolution authorizing the spending above 90% limit is required.
Recommendations
Staff recommends approval.
Action Needed
Approval of Resolution No. ______ Authorizing the spending above the 90% limit as designated by the Oklahoma Municipal Budget Act of 1979.
Public Notification
Posted as required.

Fiscal Impact
Attachments
90% Resolution Memo FY 18-19
90 % Resolution FY 18-19

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