Title
Pertaining to a 2024 Budget Amendment No. 5 to record the increase in spending and financing for merchant fees.
Body
WHEREAS, the Board of Water Commissioners of the City of Saint Paul (“Board”) adopted its 2024 budget in September 2023; and
WHEREAS, Board staff has recognized the need for an increase of $330,000 in funding for merchant fees due to the delay in implementing the Paymentus portal; and
WHEREAS, Board staff has identified available funding of $80,000 from account 61360 that could be diverted to this need; and
WHEREAS, the total amount needed for 2024 increase in spending is $250,000 which will be financed from use of fund balance; therefore, be it
RESOLVED, that the Board of Water Commissioners does hereby recommend amendment to its 2024 Adopted Budget, resulting in an increase of spending and financing of $250,000 to the 2024 Adopted Budget, resulting in an amended budget of $218,768,536 the details of such are attached, and does recommend approval by the Saint Paul City Council.