HomeMy WebLinkAbout2014 Resolution No. 040•
RESOLUTION NO. !/Q_
SERIES OF 2014
A RESOLUTION APPROVING A SUPPLEMENTAL APPROPRIATION OF FUNDS TO THE
2014 BUDGET.
WHEREAS, the City of Englewood is required by City Charter to ensure that expenditures do
not exceed legally adopted appropriations; and
WHEREAS, the 2014 Budget was submitted and approved by the Englewood City Council on
October 21, 2013; and
WHEREAS, the Englewood City Council discussed how to best use the remaining SBEBID
Funds held by the City of Englewood since August 15, 2013; and
WHEREAS, City Council directed that a resolution appropriating funds ($78,000) for use on
South Broadway; and
WHEREAS, City Council directed disbmsement of the remainder of the funds to property
owners as soon as possible; and
WHEREAS, City Council discussed the expenditure required to release the liens placed on
properties in the SBEBID District on April 7, 2014 Study Session; and
WHEREAS, City Council discussed Library Security concerns at the April 7, 2014 Study
Session and requested a Resolution for Supplemental Appropriation be prepared.
NOW, THEREFORE, BE IT RESOLVED BY THE CTIY COUNCil., OF THE CITY OF
ENGLEWOOD, COLORADO, AS FOLLOWS:
Section 1. The Budget for the General Fund of the City of Englewood, Colorado, is hereby
amended for the year 2014, as follows:
GENERAL FUND:
SOURCE OF FUNDS:
Undesignated Fund Balance
USE OF FUNDS:
Library Department -Professional Services
DONORS FUND:
SOURCE OF FUNDS:
SBEBID Unassigned Fund Balance
USE OF FUNDS:
Payout to Property Owners
Lien Release Fees
Total Use of Funds
$11,500.00
$11,500.00
$63,898.02
$62,281.32
$1,331.00
$63,612.32
Section 2. The City Manager and the Director of Finance and Administrative Services are
hereby authorized to make the above changes to the 2014 Budget for the City of Englewood.
ADOPTED AND APPROVED this 21st day of April, 2014.
I, Loucrisbia A. Ellis, City Clerk for 19~fity of Englewoo
above is a true copy of Resolution No. YJl, Series of2014.,
:::,,
o, hereby certify the
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COUNCIL COMMUNICATION
Date: Agenda Item: Subject:
April 21, 2014 9 Ci Resolution for a Supplemental Appropriation to the 2014
Budget
Initiated By: Staff Source:
Finance and Administrative Services Department Frank Gryglewicz, Director
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
At the January 21, 2014 Study Session, City Council discussed how to best use the remaining South
Broadway Englewood Business Improvement District (SBEBID) funds held by the City of Englewood since
August 15, 2013. Council directed staff to prepare a resolution appropriating funds ($78,000) for use on
South Broadway. Council directed staff to disburse the remainder of the funds to property owners as soon
as possible. Council discussed the expenditure required to release the liens placed on properties in the
District at the April 7, 2014 Study Session.
City Council discussed Library security concerns at the April 7, 2014 Study Session and requested staff
prepare a Resolution for a Supplemental Appropriation for Council consideration at the next regular
• meeting of City Council.
RECOMMENDED ACTION
Staff recommends City Council approve the attached resolution for a supplemental appropriation to the
2014 Budget for the following:
SOURCES AND USES OF FUNDS :
GENERAL FUND:
SOURCE OF FUNDS:
Undesignated Fund Balance
USE OF FUNDS:
Library Department -Professional Services
DONORS FUND:
SOURCE OF FUNDS:
SBEBID Unassigned Fund Balance
USE OF FUNDS:
Payout to Property Owners
Lien Release Fees
Total Use of Funds
$11,500
$11,500
$63,898.02
$62,281.32
$1,331.00
$63,612.32
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
City Council has made security on the CityCenter site a priority for years. The Library has experienced an
increase in activity since the light rail and the site open in 2000. Additional security in the Library is
important in maintain a safe and pleasant experience for all patrons and staff. Council determined that
additional funding should be appropriated for 2014 for security services.
The South Broadway Englewood Business Improvement District (SBEBID) was formed with the passage of
Ordinance 29, Series of 2006. A petition to dissolve the SBEBID was presented to the City Clerk by
persons owning property in the District. City Council dissolved the SBEBID with the passage of Ordinance
29, Series of 2013 on July 17, 2013.
The remaining cash assets held by the SBEBID were transferred to the City of Englewood on August 15,
2013 and additional funds have been received from collections made by Arapahoe County. Only
expenditures from prior obligations and holiday lighting have been paid from the SBEBID funds.
The balance of the SBEBID funds as of March 31, 2014 was $63,898.02 after appropriating the funds
mentioned above for lien releases, and a loss on investments, $62,281.32 is available for distribution to
property owners.
The Finance and Administrative Services Department is currently reconciling the funds available to
determine the amount each property owner is due. Staff will provide City Council with a breakdown of the
disbursements prior to making payment.
FINANCIAL IMPACT
All of the funds remaining in the SBEBID are appropriated for future use ($78,000), paying the lien releases
($1,331.00) or paying property owners ($62,281.32) in the District
LIST OF ATTACHMENTS
Proposed Resolution
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