HomeMy WebLinkAbout1996 Ordinance No. 008•
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ORDINANCE NO. j_
SERIFS OF 1996
BY AUTHORITY
COUNC[L BILL NO . 2
INTRODUCED BY COUNCIL
MEMBFR HATHAWAY
AN ORD!NANCE ESTABLISHING A CAP[TAL PROJECTS FUND .
WHEREAS, the City of Englewood's Public Improvement Fund was cn!ated as part
of the original City Charter in 1958 ; and
WHEREAS, during 1995 the City staff developed a Five Year Capital Plan (FYCP)
during which it was decided tha• a separate fund would be required to track projects
that do not fit the types of projects that are accounted for in the Public Improvement
Fund; and
WHEREAS, the Capital Projects Fund will receive funds from other governmenta l
funds and will be treated as a sub-fund of the Public-[mprovement Fund, so its budget
will be based on a project-length basis: and
WHEREAS , projects that span yean; will only need to be ap propri ated in the initial
budget yenr; and
WHERE . .IJ' the Engl ewood City Charter, Article X, Part[, Section 96 allows City
Co uncil to transfer fr om time to time to the Public Improvem ent Fund any portion of
the General Fund surplus not otherwise appropriated: and
\VHEREAS , appropriations for construction of permanent impro\•ements, from the
Public Improvement Fund, shall not lapse until the purpose for which the
appropriation was made s hall have been 1:1ccomplisbed or abandoned, provided any
project shall be deemed lo h ave been a bandoned if five fis cal years elapse without any
e.."q>e nd iture from the approp ri ation therefor ;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNC IL OF THE CITY
OF ENGLEWOOD, COLORADO. AS FOLLOWS :
~-The City Council of the City of Englewood, Co lorado h ereby authorizes
the establishment of the Capital Projects Fund for the City of Englewood .
Introduced. read in full. and passed on first reading on the 4th day of :O.tarc.h, 1996.
Published as n Bill for an Ordinance on the 7th day of March , 1996 .
Rea d by title and passed on final reading on the 18th day of March. 1996 .
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Publiahed by title as Ordinance No .!_, Series of 1996, on the 21st day of March,
1996.
La&
Loucrishia A. Ellis , City Clerk
I, Loucrishia A. Ellis, City Clerk of the City of Englewood . Colorado , here by
certify that the above and foregoing is a true copy of the On!foance passed on final
.,..,, ,oO '"""'"' •• ""'•"""'-No LL d.fi:t:,
Loucrishia A. Ellis
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COUNCIL COMMUNICATION
Date Agenda Item Subject
Marc.'1 4, 1996 Bill for an ordinance
11 a iii establishing a Capital
Proiects Fund
Initiated By I Staff Source
Financial Serv ices Department Frank Grvolewicz, Director
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
This action will help City sta·,f track the prog res s and funding of capital projects . The Public
Improvement Fund was created .. ~ part of the original City Charter on July B, 1958. 0'1 July
10 and July 24 , 1995 City Council reviewed the Five Year Capital Plan .
RECOMMENDED ACTION
Staff recommends Council adopt th is bill for an ordinance establishing a Capital Projects
Fund .
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
During 1995 staff developed a Five Year Capital Plan (FYCP). As the FYCP was developed,
staff realized that a separate fund would be required :o track projects that do not fit the types
of projects that are accounted for in the Public Improvement Fund. The Capital Projects Fund
woulo receive funds from other governmental funds (e .g. General Fund). This fund will be
treated as a "sub-fund" of the Public-lmr ~ovement Fund , so its budget will be based on a
"project -length" basis . Projects that spa, years will only need to be appropriated in the initial
budget year . The City Charter of the City of Englewood Article X, Part I, Section 96 allows
c c,,;ncil to "transfer from time to time to the Public Improvement Fund any portir>n of the
Gen,3ral Fund surplus not otherwise appropriated . Appropriations for constructilln of
penmanent improvements , from the Pub lic Improvement Fund, shall not lapse unti1 'he
purpose for which the appropriation was made sha ll have been accomplished or .ibandoned,
provided any project sh all be deemed to have been abandoned if five fiscal years elapse
without any expenditu re from the appropriation therefor .·
FINANCIAL IMPACT
Thi5 actio n will not have a financ ial imp act on the City of Englewood .
LIST OF ATTACHMENTS
Copy of bill for an ordinance