ORGANIZATION: Westside Development Corporation (WDC) - Board of Directors
POSTING LANGUAGE:
Discussion and possible action regarding an amendment to the operations budget for fiscal year 2015.
SUMMARY:
The payroll expense line item has regularly exceeded the monthly budget. As part of its mid-year budget review, Staff has identified a means to adjust without increasing total expenses.
BACKGROUND INFORMATION:
Over the course of several months, the payroll expense line item has come in over the monthly budgeted amount. At the last meeting of the Board of Directors, staff was given direction to analyze the discrepancy and recommend a means to resolve it.
In the course of reviewing the budget, a position held by a full-time employee was discovered to have originally been classified for an independent contractor. In light of this, staff recommends reallocating funds from the contract services line item back into salaries to reflect current operations.
The adjustment does not affect total budgeted expenses for the year.
ISSUE:
ALTERNATIVES:
FISCAL IMPACT:
The adjustment to the budget will neither increase nor decrease the total expenses.
RECOMMENDATION:
Staff recommends amending the budget to reflect the current operations of the organization.
MRH - 150429 - Board - Item 2 Memo