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ITEM #10BMEMORANDUM TO: FROM: DATE: SUBJECT:Beverly R. Cameron, City Manager Deidre Jet, Budget Manager May 2, 2016, Appropriating FY 2016 Fund Balance for the Relocation and Storage of the Fredericksburg
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Appropriating fy fund balance refers to allocating or spending funds from a fiscal year's ending balance.
Government agencies, departments, or organizations that are responsible for managing public funds typically file appropriating fy fund balance.
To fill out an appropriating fy fund balance form, one must include details on the amount of funds being allocated, the purpose of the appropriation, and any relevant budget codes.
The purpose of appropriating fy fund balance is to utilize surplus funds from a previous fiscal year for specific projects, programs, or expenses in the current fiscal year.
Information required on an appropriating fy fund balance report may include the amount of funds being appropriated, the reason for the appropriation, and any restrictions or limitations on the use of the funds.
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