HomeMy WebLinkAbout2010 Resolution No. 082• RESOLUTION NO . ~1::
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SE R.IES OF 20 10
A RESOLUT ION TRANS FERR ING FUNDS FR OM EM PLOYEE BENEF ITS FUND TO TI IE
GENE RAL FUND .
II~ IERE AS, the Ci ty Coun cil of the Cit y of Englcw ,,nd, oloraclo rccc1vcd th e 20 1 I Bud get
on Sep tember 13, 2010: an d
WHEREAS, a Pnblic Heanng rcgardmg th e 201 I Budget was held on Se pt ember 13, 2010 ;
and
WHER EAS . the Cit y oun cil approved the 201 I Bud get the Appro printio ns and the Mill
Levy Ordinances on October 18, 20 IO ; and
WHEREAS, the City Co un cil o f the City of Englewood, Co lorad o has detcn ·tined thnt fund s
nm needed imm ediately in the Employee Benefit s Fund co uld be transferred to the Geneial Fund
in 20 10;
NOW, TH EREF RE. BE IT RESOLVE D BY Tl IE CITY COUNC IL OF T II E CTI Y OF
ENGLEIVOO:). COLO RADO , :; lAT:
Section I . 1·11r C11y Council of th e C11 y of E11g\cwoo d. Col0rado ;:iuthorizcs the trn n$fcr of
fu nd s from the Emp loyee Benefits Fund to the.· Genera l Fun d as follows :
F:M l'LOYF.E BENEFITS FU N D
SOURCE OF FUND S:
Fu nds Avai lab le $200,000
US E OF FUNDS :
'I rn nslcr 10 !he Gc111.:ra l Fu nd $W0 .00 IJ
GENER AL FUN ll
SOU RCI ·. OF FU 'DS:
Tra nsft.:r in from the Empl oyee Hcncfits Fl'nd s2011.01111
SE OF FUN ll S:
Unrcscn cd /Uml cs1gnat1.:d runt! 8 .1l m1i.'.c $200 ,001
Sr.:c ti on 2. Thi.'. Cu y Council of the Cn y of Englewo od. Colorad o ;1ut honzcs th r.: tu.n sfcr of
fund s from th e Employee Bcn cfi1 s Fund to the Genera l Fund ns follow s:
Section 2. The City Manager and the Dircc1or of Finance and Administrative Services arc
he reby nuLh om.cd Lo make th e above changes to Lhc 20 IO Budget for the City of Englewood .
AD JYrED AND APPR OVED thi s I sL day of ovcmbcr, 20 I 0.
t1,, c,j_s;;i, , + J
James K. Woodward, Mayor
I, Loucri shia A. Ellis , City Clerk for,JlJ,c;,City of 1:nglcw . ~~do, hereby cenify Lhe
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COUNC IL COMMUN IC ATIO N
Date : Age nda 1t ,,m: I Subje ct:
Nove mb er 1, 20 10 9 c i I A Resolu 11,1 n Tran sferring $200,000 fr om the
Empl oyee f:e nefit s Fund to the General rund
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lni ti al<'d By:
\ Staff So urce:
Departmen t of Fin ance and Adm inis trative Servi ces I Fra nk Gryglewi cz, Dir ec tor
COUNC IL GOA L AND PREV IOUS COUNC IL ACTIO N
Thi s subj ec t was dis cus se d dur ing the 20 11 Bud r,et pr ocess. City Counci l and staff began th e 20 11
budg et pro ce ss at the April 19, 2010 Stud y Sess on. Coun CII and staff met again at the Aug ust 2,
Augus t 16, and Au gust 30, 20 10 Stu dy Sessio ns . Staff provide d Co un ci l with an upda te on final
chan ge s to the budge t on Sep tember 6, 20 10 pr or to print ing th e pr opo sed budg l. City ouncil
recei ve d th e 2011 Pr oposed Budge t or· Sep tem!,er 13, 20 10. A publi c hea rin g r gard in g th e
pro posed 20 11 Bud ge t was held on Sep tembi,r 20 , 2010. Th e operating bud ge ts and Multipl e Yea r
Capi tal Plan for all Ci ty d partm~n ts and fund; was reviev. ed at th e Budg et Retreat held Se ptemb er
25, 20 10
Cit ~ Coun cil ap pr oved the 20 11 budge t, a1 ,propriat1 on, -'nd mill le\ y ord mil nccs on fi nal re ,1 dmg on
October 18, 20 10.
Cit y Cou ncil ag reed to tra ns fer (in fisc al ye a, 20 10), $200,000 of fund s :i t immediately need cl in
th e Empl oyee B nefits Fund to the General Fund t help off se t lower th an an ticirat ecl reve nu e
growth and main tain th e Gen eral Fu nd 5'-reserves.
RECOMMENDED ACTION
St.tff recomni nd s City Coun ci l approve tlP .i tl ached reso lution transferring s::W0,000 frn rn t!IC'
I mployee Benefit s fu nd to the neral run ~•
IIA CKGROUND , ANALYS I , AND ALTERNAT !VES :DE"'TlFI ED
,ty mm cil di scussed and de tem un ed 1h at funds not 1 ~e ,..l cd i111m ecl1at ely 111 the f 111pl o) t 'l' lk nd 11,
I uncl could be tram,fer recl to ti l ;en ral Fun d in 20 l U
fh e f !l ow ing illu st rat es th e tran sre r ,rncl use of fun ds :
EM PLOYEE BE NEF ITS FUND
SO RCE OF FUND S: $~ll0,0llll
Fu nds A,a rlabl e
USE OF FUND S:
Trans fer to th e t., ne ral Fund
,ENE RA t FlJND
0 P. E Off
Tr ,111,h•r In 11<1111 1lw rmp loyee Benefi 1s Fund
OS: $200,000
lJ E f f lJN O :
Urn l\w,vt•d U11d1•,;\~11,1 I L•d hmcl Rabnce $200,000
Fl AN I A L IMl'A T
Th is ,,cuon will lrJnsfer fund~ from 1he Empl oyee Benefits Fund not imm edi ately needed to the
General rund f111 s wi ll Irtrease the Genera l Ftind's r serves whi le redu cing th ose of the Employee
Be n,•fits Fund.
U ST Of ATTA CHMENT
Proposed Resolu1 ion
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