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HomeMy WebLinkAbout2007 Resolution No. 038• • • RESOLUTION NO . 3g' SERIES OF 2007 -- A RESOLUTION APPROVING THE ADVANCE OF FUNDS IN THE 2007 BUDGET . WHEREAS , the City of Englewood is required by City Charter to ensure that expenditures are not made without proper appropriation by City Council ; and WHEREAS, the City Council approved the 2007 Budget and Appropriation Ordinances on November 6, 2007 ; and WHEREAS , Englewood Mclellan Reservoir Foundation (EMRF) is grading and moving dirt to improve the marketability of the Mclellan Res,,rvo ir site for devel opment; and WHEREAS , the dirt being removed from the site will be used for the Golf Course Project ; und WHEREAS , Douglas County is rcq,,;ring the EMRF to deposit fonds if damage is caused during "dirt work" on the Mclellan Reservoir site; and WHEREAS , upon completion of the work ii is anticipated that the funds will be returned to the City of Englewood ; and WHEREAS , the Englewood Mclellan Reservo ir Foundation Board has approved this action ; NOW, THEREFORE , BE IT RESOLVED BY THE CITY COUN CIL OF THE CITY OF ENGLEWOOD, COLORADO, T!iAT: ~ The City Council of the City of Englewood , Colorado, hereby appro ves the following transfers a. ,d appropriations: CITY OF ENGLEWOOD GENERAL FUND: Source of Funds : Unrestricted Net Assets $50 ,000 u,. of Funds : Advance to Englewood Mclellan Reservoir Foundation $50,000 ENGLEWOOD McLell1n RESERVOIR FOUNDATION: Source of Funds: Advance from City of Englewood General Fund $50,000 U1eofFupdJ : Professional Service Contract with E-21 Engineering $50,000 ~ The City Manaaer and the Director ofFinance and Administrative Services are hereby authorized 10 make the above changes 101\1e budaet . ADOPTED AND APPROVED this 20th ofFebruar)', 2007 . ·tf.~ oucrishia A. Ellis, City Clerk I, Loucrishia A. Ellis, City Clerk for )ji~ily of Englewood, above is a 1r11e copy of Resolution No .~ Series of 2007. 2 • • • • • COUNCIL COMMUNICATION Date: A1enda Item: Subject : Febmary 20, 2007 11 c II Advance fr om the General Fu nd to the Engle ,..,ood Mclellan Reservoir Founda tion (EMRF) - Initiated By: I Staff Source : Finance and Adm ini strati ve Services Department Frank Grygle wi cz, Director COUNCIL GOAL ANO PREVIOUS COUNCIL ACTION City Cou ncil has discussed the activities of the EMRF on many occasions. Council has vi sited the Mclellan Reservoir site to view first hand development opportur ut ies. RECOMMENDED ACTION Staff recommends Council approve the attached Resolution loaning funds from the General Fund to the EMRF . Douglas County is requiring the EMRF to deposi t these funds if damage is caused durin g •dirt work " on the property. Grading and moving dirt will improve the ,11a rketab ility of the property and provid e dirt for the Golf Course Project. it is anticipated that the funds will be returned to the General Fund at the completion of the work . The EMRF has documented the road conditions prior to beginning the project to resolve any dispute regarding damage done during the project. The EMRF Board has approved this action. CllY OF ENGLEWOOD GENERAL FUND : SOURCE OF FUNDS: Unrestricted/Undesignated Fund Balan ce USE OF FUNDS: Advance to Englewood Mclellan Reservoir Foundation ENGLEWOOD MCLELLAN UESERVOIR FOUNDATION SOURCE OF FUNDS: Advance from City of En1~sw, ·<i Gen eral Fund USE OF FUNDS : Professional Service Contract with E-2 1 Engineering (Deposit with Douglas County) FINANCIAL IMPACT $50,000 $50,000 $50,000 $50,000 This Resolution has n J Impact on the City's financial position, but will ternporarily reduce the amount of funds available to the General Fund by $50,000. LIST OF ATTACHMENTS Resolut ion • • •