HomeMy WebLinkAbout2007 Resolution No. 038•
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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.
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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
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