HomeMy WebLinkAbout2004 Resolution No. 003•
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RESOLUTION NO . ....2_
SERIES OF 2004
A RESOLUTION ADJUST ING TH E BE GINNING AN D ENDING TO TAL FUND BALAN CE
AND SA LES AN D USE TAX REVENUE ESTIMATE , FOR TH E CIT Y OF ENGLEWOO D
2004 BUDGE T.
WH EREAS , th e Englew oo d Cit y Co un cil app rove d th e 2004 Bud ge t and Appropriati on
on Nove mber 3, 2003 ; and
WHEREAS , the Ci ty of Eng lew oo d Budg et was amended by a supplemental
appropriation on December I, 2003 ; and
WHEREAS , thi s Reso luti on adj usts th e es tim ated sa le s an d use tax reve nu es fo r the 20 04
Bud ge t; and
WHEREAS , the passage of this Reso lution adjusts the total fund balanc e for inu ary I,
2004 and December 31 , 2004;
NOW , THEREFORE , BE IT RESOLVED BY THE CITY COUNC IL OF THE CITY
OF ENG LEWOOD , COLORA DO, TH AT :
Section I. The 2004 Budge t fo r th e City of Englewood, Co lorJdo, is hereby amended as
follows:
GENERAL FUND
To ta l Fund Balance January I, 2004
Sale s And Use Tax Reve nue s
Total Fund Balance De ce mber 31, 2004
$ 5,163,167
$20,300 ,000
S 4,86 2,687
Section 2. Th e City Manager and th e Directo r of Financial Se rv ice s are hereb y
autho rized to make th e abo ve changes to th e 2004 Budget of the City of Englewood.
ADOPTED AND AP PR OVE D thi s 20th da y of January, 2004
I, Loucri shia A. Ellis, City Clerk for the City of Engle
above is a !!'.1e co py of Resolution No. --1_, Series of 200 oloradn, here~~ ceat
Loucri shi a A. Ellis , City Clerk
COUNC IL COMMU NI CATI ON
Date Agenda Item Subject
Janua ry 20, 2004 10 Ci Reso lution to Adjust th e Beginning and
En din g To tal Fu nd Ba lance and Sa les
Jnd Use Tax Reve nu e Estimates fo r th e
2004 Budge t
In itia ted lly
D epa rtm en t of Finan ce and A dministrati ve Serv ices
I Staff So urce
Fra p ~ Gryglewicz, Direc to r
COUNC IL GOAL AN D PREV IO US COUNC IL ACTION
Th e Counci l held J 2004 budget re tr ea t o n Sep tember 27 , 2003 10 di sc uss th e propose d 2004 Budge t.
Ci ty Council ap p roved th e 2()04 Budget aad A p pro pr ia ti o n o n fi nal rea d ing o n Novem be r 3, 2003. Th e
2004 Budget was amended by a supplem ent al ap p ropri ati o n o n D ece mber i, 2003.
RECOMMENDED ACTION
Staff reco mm ends City C0<111 ci l app rove th e allached reso lution adju sting Ille es timated sa les and use l ax
revenues fr o m $20,000,000 10 $20,300,000 fo r th e 2004 Bu dge!. Th e b eg innin g Total Fund Balan ce is also
cha nge d fro m S4,805,6 t t l o S5, 163 ,167. Also, th e en ding To tal Fund Balance is b eing changed fro m
$-l ,73 ~.683 l o S-l ,862,687.
Th e City of Englewood is required by Cit y Charier l o ensu re th at ex pendi tur es are 11 0 1 made wilh a ut p roper
ap pro priation bv City Coun cil. The atlac hed reso lu tio n ,1p p ropri a1es funds l o en sure th e C ity o f Englewood
compli es wi th l ega l res tri cti o ns gove rnin g local bu dgetin g.
FINANC IAL IMPACT
The 200 4 es tima ted sa les and use tc1x reve nu es will be inc rease d S ~00,000. Beg urning lota l Fw1 d Bal anc.~
and ending To tal Fund Balan ce are in c rease d S357,665 and St 30,054 res pec tively. Tl ,e en".!in g
unreserved/undes ignated fund balance as bud ge ted is $3 ,503,052 o r t 0.3 percent o f b,,dgeted •~, enu es.
LI ST OF ATTAC HMEN TS
Pro pose d reso luti on
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