Special Board of Aldermen 08-23-2021 Page 7
revenue expected above the budgeted revenue for 2021?
John Griffin, CFO
John Griffin, CFO. That’s correct Alderwoman Lu. Predominantly our strategy has been to be very
conservative in our estimate of motor vehicle revenues and once again we were able to have a healthy
surplus over budgeted revenue which is called out in our most recent Standard and Poors rating which
we're very proud of. So that’s a large part of it and then there’s other revenues that contribute up to the
$5.8 million. Thank you.
Alderwoman Lu
Could | just ask a follow up?
Chairman Dowd
Follow up.
Alderwoman Lu
And |’m just trying to understand this process better. So with the escrows, those are appropriations that
came in below our projections — expenses that came in below, right?
John Griffin, CFO
That’s correct. So we look at the anticipated appropriations not spent in every department. We determine
whether they’re worthy on a like for like basis to move forward. Some don’t move forward and others do.
Then the difference to fund all these other projects that were not included in the original Fiscal 2021
budget, we were able to fund these with a re-appropriation approval of the Board of Aldermen. The direct
answer is these are appropriations that have not been spent. So they were budgeted amounts — haven’t
been spent.
Alderwoman Lu
Okay. Thank you.
Chairman Dowd
All set?
Alderwoman Lu
Yes | am thank you.
Chairman Dowd
All right thank you. Any other questions? All right.
TESTIMONY IN FAVOR - None
TESTIMONY IN OPPOSITION
Fred Teeboom
| have a question. Is this surplus money?
