HomeMy WebLinkAbout2006 Resolution No. 003•
•
RESOLUTION NO . 3
SERIES OF 2006 --
A RESOLUTION APPROVING A TkANSFER AND APPROPRIATION FOR THE 2006
BUDGET OF THE CITY OF ENGLEWOOD, COLORADO, FOR THE ENGLEWOOD
McLELLAN RESERVOIR FOUNDATION .
WHEREAS , the Cily of Englewood is required by City Chancr to ensure that expenditures arc
not made without proper appropriation by Ciey Council ; and
WHEREAS, the Englewood Cily Council of the Cily of Englewood approved the 2006 Budget
and Appropriation Ordinance on final reading on October 17, 200S ; nnd
WHEREAS, the Ciey ofEnglcwood is required by Ci ey charter to ensure that expenditures do
not exceed legally adopted appropriations ,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, AS FOLLOWS :
~-The Cily of Englewood 2006 Budget is hereby amended as follow s:
GENERAL FUND
Source ofFunds·
Unrcscrvcd/Unde signated Fund Balan ce
UscofFunds
SI00,000
Transfers out to Englewood Mclellan Re se rvoir Foundation SI 00,000
ENGLEWOOD McLELLAN RESERVOIR FOUNDATION
So!!K•..l!f..Elml!l;
Transfers in from General Fund $100,000
UscofFunds
Site development expenditures $100,000
~ The Cily Manager and the Director of Finance and Administrative Services arc
hereby authorized to make the above changes to the 2006 B1•dgct for the Cily of Englewood .
ADOPTED AND APPROVE D this 9th day of January, 2006 .
I, Loucrishia A. Ellis, City Clerll.for lhc City ofEnglcw
ebovc is a ttuc copy of Resolution No . .:2.._, Series of 2006 .
•
•►
• COUN CIL COMMUNICATION
Date : Agenda Item : / Subject :
Janu ary 9, 1006 11 Ci I Sup pl em ent al appropria ti o n and tra n sfe r of funds
fro m General Fu nd 10 th e Englewood Mclell an
Reservo ir Fo un da tio n
Initiat ed By:
City of En glewood, Fi nancial Sel"\ ices :.epart men t
I Staff Source :
Fra nk Gryglewicz, Directo r
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
Ci ty Council has d isc usse d th e M clell an Reservoi r property 0 11 numerous occas io ns. C ity Council
approved th e iorma 1i0 11 of th e Engl ewood Mclell an Res ervoi r Fo unda tion (EMRF) on May 3, 1999
and th e EM RF A rticl es o f Incorpora ti o n we re sig n ed on lune 1, 1999. Counci l passe d Reso luti o n
75 , Seri es of 1999 tra nsfe rrin g fun ds fr o m th e Water Fu nd l o EM RF and pass ed Ordinan ce 4 1,
Se ri es of 1999 transferrin g properly fro m the Ci ty to EMR F.
RECOMMENDED ACTION
• Staff reco mmends Ci ty Co un ci l ,1pprove th e att ached reso lut io n transferrin g and .1pp ropr ia ting
fu nds l o the En glewood M c lell an Rese rvoir Fo undati o n . Th e so urces and uses of th ese fun ds are :
•
SOURCE OF FUNDS :
GE N ERAL FUN D :
U nreserv ed/U n designated Fund Ba lance
USE OF FUNDS :
Tra nsfers o ut lo EM RF
SOURCE OF FUNDS:
EN G LEW OOD M CLE LLA N RESE RV IO R FOUN D ATI ON
Transfers in fro m Gene ral Fund
US E OF FUN DS :
Sit e d eve lo pm ent expen d itures
$100,000
$100,000
$100,000
$100,000
Th ese additio n al funds w ill b e us ed for site developm ent. Th e Fo unda ti o n w ill provid e City Co uncil
w ith up dates on th e ex penditu re o f funds as w ell as progress report s .
FINANCIAL IMPACT
This appro priati on and transfer will reduce the General Fund unres erve d/undesignated fund
balance by $100,000. The EMRF will use these funds for the Lund Partnership (civil engine ering
wo rk) c urr entl y estimated at $27,760 but the esti mated total will be $40,000. Also, Plan West, Inc .
will be engaged to explore various developme nt possibiliti es; the base engagement Is $8,750 and
will most lik ely tota l $15 ,000 when all th e studies are co mpl ete . This leave s $45,000 availab le for
mar ketin g, br okerage and legal expe ns es.
Th ese fu nds wi ll be reimbursed fr om any funds re ce ive d if th e prope rty de ve lops.
LIST OF ATTACHMENTS
Reso luti on
•
•
•