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Pueblo de San Ildefonso Code.

6.3.9.010 Findings

(a) the Council is authorized to make laws for the Pueblo de San Ildefonso pursuant to Section 5 of the Agreement;

(b) Section 5(a)(ii)(A) of the Agreement requires the Pueblo to enact an Annual Budget that includes all projected revenues and expenditures; and

(c) Section 5(a)(ii)(A) of the Agreement also allows budget modifications by the Council no more than twice a year;

(d) The Council approved the FY2016-2017 Annual Budget on June 16, 2016, and has implemented two New Funding Adjustments resulting in the current budget total as follows:

ANNUAL BUDGET: FISCAL YEAR 2016-2017
GENERAL FUND $ 2,337,279.00
SPECIAL REVENUE FUND $ 7,745,981.53
CAPITAL PROJECTS FUND $ 1,010,770.50
BUSINESS FUND $ 1,261,145.26
TOTAL BUDGET: $ 12,355,176.29

(e) The Council has not been presented with or authorized any Budget Modifications to the budget to-date;

(f) It has been determined that certain modifications to the FY 2016-17 Annual Budget are necessary;

(g) The proposed budget modifications attached to this Resolution ("Budget Modification No. 1") were submitted to the Council, which has reviewed the modifications and recommended approval of the attached modifications;

(h) The Council has reviewed the proposed Budget Modification No. 1 and has determined that it is in the best interest of the Pueblo to approve Budget Modification No. 1;

(i) The Pueblo's FY 2016-2017 new adjusted Annual Budget will increase from $12,355,176.29 to $12,893,893.29;

(j) The Pueblo's modified FY 2016-2017 Annual Budget is as follows: