HomeMy WebLinkAbout2004 Resolution No. 052• RESOLUTION NO. 5J-..
•
•
SERIES OF 2004
A RESOLUTION APPROVING THE 200 3 YEAR END SUPPLEMENT AL
APPROPRIATIONS TO COMPLY WJTH CITY CHARTER REQUIREMENTS .
WHEREAS , all expenditures and expen ses arc ofte n no t known until all invoices and purchase
orders are proce ssed at or after year end ; and
WHEREAS , supplemental appropriations arc often necessa ry after all expense s are proce ss ed ;
and
WHEREAS, the Ci ty of Englewood is required by City 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:
Section I. The Budget for the City of Englewood, Colorado , is hereby amended for the year
ending 2003, as follows :
GENERAL FUND
Source ofFunds:
Unrcserved/Undesignated Fund Balance $271 ,779
Use of Funds
Debt Service: Capital Lea se $271 ,779
DONORS FUND
Source o(Funds :
Forfeiture Funds $802 ,000
Use ofFunds:
Fox Street Property Purch ase $6•19,513
Storage Bui l<ling at ServiCenter $ 73 . 24
Other Equi p •ent Purcha ses Ll.H.l!il
Tota l $ij 02 ,000
STORM DRAINAGE FUND
Source of Funds :
Retained Earnings $200 ,000
Use of Funds :
Construction Budgeted in 2002 Completed 2003 $200,000
SERV I CENTER FUND
Source of Funds :
Ret ained Earnings
Use of Funds :
Land Purchase
$340 ,000
S340 ,000
Section 2. The Cit y Manager and the Director of Finance and Administrative Services are
hereby auth ori zed to make the above changes to the 2003 Budget for the City of Eng lewood .
ADOPTED AND /,PPROVED this 7th day of Jun e, 2004.
I, Louc ri shia A. Ellis , City Clerk for _!be City ofEnglewo
above is a true copy of Resolutio n No . ~,.2..__ , Series of 2004 .
•
•
•
•
•
•
COUNCIL COMMUNICATION
Dat e Agenda Item Subject
Jun e 7, 2004 11 C i Supplem ental Appro pri ation fo r
year-end 2003 to com p ly w ith
Ci tv Cha rt er reouirem ents
Initiated By I Staff Source
D eoartm en t of Fi nance and Administrative Service s Fr an k G rv2l ewicz, Direc tor
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
Th e Counci l ap prove d th e 2004 Budget and Appropriati on on fin al rea din g November 3, 2003 .
RECOMMENDED ACTION
Staff recommends Coun c il approve th e attach ed reso lution for supplemental appro priations fo r the ye ar
ending 2003 . TI1 ese additional funds are re quired becaus e all ex penditu res and ex p ens es are often not
kn own until all invoices and purchase orders are processed at or after yea r-end .
Th e so urces and us es o f th e funds are:
GENERAL FUND
~(funds:
Unreserved/Undes igna t ed Fund Balan ce $27 1,7 79
Use of Funds:
D ebt Serv ice : Ca pi ta l Lease $27 1,779
DONORS FUND
Source of Funds :
Forle itu re Funds $802,000
Use of Funds:
Fox Str ee t Property Purc hase $649,5 13
Storage Buildi ng at Serv iCenter $73,4 24
O th er Equipmen t Purchase s $78,063
To tal $81)2,0 00
STORM DRAINAGE FUND
Source of Funds :
Re tain ed Ea rnin gs SW0,000
Use of Funds;
Cons truction Bu dgeted In 2002 Compl eted ~003 S~oo,ooo
SERVICENTER FUND
Source of Funds :
Retain ed earnin gs
Use of Funds:
La nd Pur chase
$340,000
$340,000
Th e Ci ty o f Englewood is ,equ ired by City Ch art er to ensure that exp enditures do no t ex cee d lega ll y
ad o pt ed ap propriations . Th e att ac hed resolution appropriates funds to en sur e th at th e City o f En glewood
complies w ith lega l restricti o ns governin g local budgetin g.
FINANCIAL IMPACT
These suppl em ental appropriation s wil l reduce General Fund unreserv ed i un~ ~alance by $271 ,77 9 for
cap ital lease debt servi ce. TI1e Donors' Fund is being amended to refl eo:: (hr exp enditure of $804,000 in
forfeiture fun ds fo, th e purchas e o f th e Fo x Street Poli ce Substation, storage equipment at th e ServiC enter,
and o th er equipment pu,chases. The Storm Drainage Fund retained earnings are reduced $200,000 for
construction projec ts budgeted in 2002 but completed in 2003 . The ServiCenter Fund retained earnings
are reduced $340,000 for th e Herbertson land purchas e.
UST OF ATTACHMENTS
Pr o posed reso lution
•
•
•