HomeMy WebLinkAbout2003 Resolution No. 039•
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RESOLUTION NO . _jJ_
SERIES OF 2003
A RESOLUTION TO TRANS FE R FUNDS FROM THE GENERA L FUN D TO TH E
ENGLEWOO D URBAN RENEWAL AUTHORITY (EURA).
WHEREAS , th e Ci ty of Englewood is req uired by Ci ty Chart er to ansure th at
ex pend itures are not made wi thout proper appropriation by City Cou ncil ; an d
WHEREAS , these funds arc appropriated to ensure that the City of Englewood co mpli es
with le ga l restrictions gove rning local budgetin g; and
WHEREAS , the EURA has no so urce s of funding other than investments and tran sfers in
from oth er fund s; and
WHEREAS, the EURA Board met on February 12, 2003 and approved their 2003 budget
which included the proposed transfer from the City's General Fund.
NOW. THEREFORE , BE IT RESOLVED BY THE r.ITY COUNCIL OF TH E CITY
OF ENGL EWOOD , COLORADO, THAT :
Sectio!l..!. The 2003 Budget for the City of Englewood, Colorado , is hereby amendei: as
follows :
GENERAL FUND
Use ofFunds:
Transfers out of th e Engle wood Urban Renewal Fund $5 ,000
Source of Funds·
Unreserved/Undesignated Fund Balance $5 ,000
Sec ti on 2. The City Manager and the Direc tor of Finance and Administrative Servi ces
are hereby authorized to make the above chan ges to the 2003 BuJgct of the City of Englewood .
COUNCIL COMMUNICATION
Date Agenda It em Subject
March l 7, 2003 11 C ii Transfer of Funds from th e
General Fun d to th e Englewood
Urban Renewal Authoritv (EURA)
Initi ated By Staff Source
Department of Finance and Administrative Services I Frank Grv~lew icz Director
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
The Council has n ot taken any p revious action on this topic.
RECOMMENDED ACTION
City staff recommends Council approve the attached reso lution.
The sources and uses of th e funds are :
GENERAL FUND
Source of Funds:
Unreserved/Undesignated Fund Balance
Use of Funds :
Transfers out to the Englewood Urban Renewal Authority
$3,000
$5,000
The City of Eng lewood is requ ired by City Charter to ens ure that ex penditures are n ut made w ithout pro per
appropriation by City Council. Th e attached reso lution appropriates funds to ensure that the City of
Englewood co mplies with legal restrictions governing local budgeti ng.
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
The EURA has no sources of fu nding oth er than interest earned o n investments and transfers in from other
funds . The EURA Board met o n February 12, 2003 and app roved th eir 2003 Budget including this transfer
from the City's General Fund .
FINANCIAL IMPACT
This transfer will reduce General Fund reserves by $5,000.
LIST OF ATTACHMENTS
Proposed reso luti on
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