HomeMy WebLinkAbout2012 Resolution No. 085RESOLUTION NO. jt;"
SERIES OF 2012 --
A RESOLUTION TRANSF ERRING FUNDS FROM THE PUBLIC IMPROVEMENT FUND
(PIF) TO THE GENERAL FUND.
WHEREAS, the Englewood City Council approved Resolution No . 43. Series of 2012
transferring $334,000 from t1,c General Fund to the Public Improvement Fund for paving
projects; and
\VHER EAS, the Public Works Department determined only $234,000 would be needed for
paving projects in 2012 leaving $100,000 unu sed and available for other uses; and
WHEREAS, durin~ :!(1 13 budget discussions, the $100,000 in unused paving projects funds
were ident ified as a p<llemial transfer to increas e the General Fwid Unassig11ed Fund Ds lance: and
WHEREAS, Lhe Englewood City Counci l discussed the transfer of$ IUU .UOU from the Public
Improvement Fund lo the General Fund a\ the Augu st 13 , 2012 Study Session ; and
WHEREAS, the Englewood City Council directed staff to prepare a resolution transferring
$100,000 from the Public Improvement Fam! 10 the General Fund;
NOW, THEREFORE , BE lT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD , COLORADO , THAT :
Section I. The City Council of the City of Englewood, Colorado supports the tiansfcr of
funds from the Public lmprovement Fund to the General Fund, as follows :
PUBLIC IMPROVEMENT FUND
SOURCE OF FUNDS:
Unassigned Fund Balance
USF. OF FUNDS :
Transfer out lo Lhe General Fund
GENER:U,Ft.:ND
SOURCE OF FUNDS:
Transfer in from the Publi c Improvement Fund
USE OF FUNDS :
Unassi&'lled Fund Balance
$100,ll()()
$100 ,000
SI00,000
$100 ,000
Section 2. The City Manager and th t· Director of Fin ance and Admimstrative Service, are
her,· ,y aulhori7-C<l to make the above changes to the 2012 Budget for the City of Englewood .
ADOPTED AND APPROVED this 1st day of October. 2012 .
I, Loucrishin A . Elli ,, City C lerk fo r 'WfatY of En
alnl ·1 c is,, tn.1c copy of Rcsolu1io 1, No . ~1 Si;rics
COUNCIL COMMUNICATION
Date : Agenda llem: Subject,
October 1, 201 2 11 C iii Res olulion Transfe rring Funds from the
Public Improvement Fund (PIF) to the
Gen era l Fund
Initiat ed Br: I Slaff Source:
Finance and Adminls tr ative Se rvices r r,1nk Gryg lc wicz, Di recIor
COUNCIL GOAL ANO PREVIOUS COUNCIL ACTION
Un March 5, Wl 2, City Coun cil approved Ke so lullon 4b, tr ansfe rring $334.000 from th e <.,en eral f und to th e
Publi c Improvement Fund for paving prc ,jects. Th e $100,000 represe nts th e excess funds P Jblic Works
Deptutm ent n cefk.:J frn ptwin~ pr ojecl!i in 201 2 . At th e Augu st t 3, 20 1 :! St udy Sessio n , City Cuuncil d iscu ~!ried
and direct ed stall to µrcpar~ a resolution transle rri n~ $100.000 of •Jnused paving project funds irom th e Publi c
lm pro,..ernent Fund back to tile Gener ,,I Fund
RH:OMMENOED ACTION
Staff recommen ds Council approve thi ; tr ansfe r o f $100.000 of unused pavi ng projec t funds fr om the Pub li c
Improvement Fund to th e General Fund .
BACKGROUND, ANALYSIS, ANO ALTERNATIVES IOENTlr-lEO
In early 20 12, Ci ty Council disc ussed 2012 paving projects and directed staff to prepare a 1,ansfer o f SJJ4,000
from the General Fund to the PIF to iund pa ving project;. Public Works oetermined $234 ,000 of th ese funds
would h-:-needed to co mp le tP. pavinc prnjec ts in 20 12 leavin g $100,000 unused and ava ilabl e ior transfer ba ck to
th e General Fund. Durin g 2013 budget discss sions wit h sta ff. $100.000 of umrs ed paving project fu n ds were
ide ntifi ed as a potential tran sfe r to th e Ge ne,c1 i Fund' elp ircreas e th e un;:1ss igned fun d Cc1lan ce. Th e tr,1n sfer
was discussed w ith Council al the Aug us t 13 20 12 Jdy Session . City Council directed staff lo take the necessary
dctions to presen t a resolution for Council's co nside rati on at an up co ming regular City Council meeting.
SOURCES ANO USES OF FUNDS :
PUBLIC IMPROVEMENT FUND :
SOURCE O F FUNDS:
I lni\!.<.i gn Prl Funrl Ril l;mre $100,000
USE OF FUNDS:
Transfer out to th e General Fun d $1 00,000
GENERAL FUND:
SOURCE OF FUNDS:
Tr ans fer in from th e Public Im provem ent Fund $1 00,000
USE Of FUNDS:
Unassi gn ed F1 mrf Balan ce $100,000
FINANCII\I IMl'AU
Thi s act ion will ,ed uce lh e PI F's Un assi&ncd Fu11 d Ral.m ce by $ I 00,000 a~d increase lh e C.cner.11 Fund's
Un,,ss ig nerl 1=,11 ,d Bal,111 cc by S 10 0,000
LI STOF ATIACMMENTS