HomeMy WebLinkAbout2003 Resolution No. 083•
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RESOLUTIO N NO . 0_2
SERIE S OF 2003
A RESO LUT ION TO TRANSFER FU . DS FROM THE CA PITAL PR OJECTS FU D (C PF )
TO THE GENERAL FU:s!D FOR IDIS PR OJ::.CT LEASE PAYM EN TS.
WMEREAS. th e ~it y of Englewood is required by Cit y Chane, to ensure th at
ex penditure s arc not ma e wi th ou t prn pcr appropriation by Cit y Co uncil ; and
WMEREAS . Cit y Co un cil has approv ed the IBIS lea se payments ; and
WMEREAS. the tran sfe r of fu nd s fr om the Cap ital Projects Fund to th e General Fu nd is
done to maintain co nsiste 11cy.
NOW , 1 MERE FORE , DE IT RESOL VE D DY TH E CIT Y COUN CIL OF TM E CIT Y
Of ENGLEWOO D, COLORADO. THAT :
~~!% L The 2003 Budget fo r the City of Englewood, Co lorado , is hereb y amend ed as
fol le ,\"~
CA PITAL PROJE CTS FUN D
Source of Fund s:
Unrescrved/Und es ignat cd Fund Bal ,mce $271,779
Use ofFund s:
Transfers Out to Gene ral Fund $27 1,77 9
GEN ERAi. FUND
Sou rc e of Funds :
Trans fer s in from Capita l Proje cts Fu nd $2'/1,779
Use of Fund s:
Unrese rve d/U ndcs igna11:d Fun d Balance $27 1,779
Section 2 Th e Ci ty Manag er and 1hc Direc tor of Finan ce and Ad mini strative Se rvice s arc
hereb y authori zed to mak~ the above chan ges to th e 2003 Bud get of the City of Eng lew ood.
ADOPTED A, D APP ROVED thi s 20'" day of Octo ber, 2003 .
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• I. Lolll is hi a A. Ellis, C i1y Clerk fo r the C it y ogj'gle, ·
ab ove ,md fo reg oin g is a tru t: co py of Rt:so luti on ~o.. . c ·cs
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COUNCIL COMMUNICATION
Dale Agenda Item Subject
Oc tober 20. 2003 11 C I Tr,111 s(er Funds fr om th e C~1pit.il
Proi ec ts Fund to the General Fun d
Initialed By I Slaff So urce
D e1Jar tm e111 oi Finan ce illld Administra li\ e Ser\'i Ce!> Fr,:rnk Grvglew ic1, Direc tor
COUNCI L GOAL ANO PREV IOUS COUNCI L ACT ION
Th e Co un ci l has not 1aken any pr ev ious acti on 11 thi s topi c, blll th e pr cjec ts fo r which th is tr ansfer is bein g
111,J rl e have been pr ev iousl y appr ove d.
RH'OM,\<IENOEO ACT ION
Jta ff reco mm end s City Co un cil approve th e ana checl reso luti on lr,1nsferrin g $27 1,779 fro m th e Ca pital
Projects Fund (C Pf) l o th General Fund.
Th e so urces and uses of th e funds are:
CAPITAL PROJECTS FUND
Source of Funds :
Unreserved/U nd es ignatecl Fund Ba lance
Use of Fund s:
Transfers Q ui to th e General Fund
FUND
Source of Fund s:
Tr ansfe rs in from th e Ca pit al Projects Fund
Use of Fund s:
Unres erve d/U 11d esig 11 ated Fund Balanc e
$2 7 1,779
S271 ,779
S27 1,779
Th e Ci tv 0 1 Englewood b req uired by Ci ty Char er lo ensur e th at ce rtt1in tran sfers ar e not mad e with out
pr ope r au1horiz.1ti Jn by Ci ty Council. Th e .-1ttac hed reso luti on tran sfers iunds to ensu re th at th Ci ty ot
Engle\\oo d co mpli es with legal restricti ons gov ernin g loc al budgeting,
BACKG ROU ND, ANA LY SIS , ANO ALTERN ATI VES ID EN TIFIED
This lr,111si r b ior debt sen ice th~1t origi nall y was bud µe ted ior in Ill e .1pi tal Pr ojec ts iun d. but ior
co ni,1s1e11 q 1, wi ll be p,1 id out 0 1 th e G eneri.11 Fund .
FINANCIAL IMPACT
Thi i, tr.1n s1e1 ,, ill red uce th e CPF 's unresel\ ed/undes1g11 a1ed tuncl balan ce bv S:'.7 1,;-;-9 and in creas e the
Ge neral Fund 's t1 nr eser\ ed /und es ignaled fun d balan ce bv th e s,1111 e ~mw unt. Tlle i,I!' fund s will be
..,.. •>e nd ed tor 16 15 projec t leJse pa vrn ent s.
LI ST OF ATTAC HME NTS
• Prop osed reso luli on