HomeMy WebLinkAbout1999 Resolution No. 075RESOLUTION NO. 'h_
SERIES OF 1999
A RESOLUTION TRANSFERRING FUNDS FRfl', THE WATER FUND TO THE
ENGLEWOODIMcLELLAN RESERVOiR FOU!l,DATION.
WfillR'i:AS, the City Council of the City ofEoglewood, Colorado approved the creation of
.,,, T.;,iglcv,ood/McLellan Reservoir Foundation en May a, 1999; and
WHEREAS, cert.'lin funds were budptad from the Water Fund with the approval of City
of Englewood's 1999 Budget on October 19, 1998; and
WHEREAS , the paaaage of this Reaolution will authorize the transfer cf funds Crom the
Water Fund to the Englewood/McLellan Reservoir Foundation; and
WHEREAS , these funds will be used for development activities ;
NOW, THEREFORE , BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, THAT:
Sm:l;imu. The City of Eng!awood 1999 Budpt ill hereby amended aa followa:
WATER FUND :
Source of Funde :
Riitai:ied earninp $100,000
J Jsea of Fund.a ·
Transfers cut to Englewood/McLellan Reservoir Foundation $100,000
~-The City Manapr and the Director of Financial Services are hereby authori:.ed
to make the above changes to the 1999 Budget of the City of Englewood.
I, Loucriahia A. Ellis, City Clerk fof!Jle City cl Englewood, Colorado, hereby ce,-tify the ...... ····~ ~ .......... ,,_ ..... ~~tf'il,
Loucrillhia A. Ellia
COUNCIL COMMUNICATION :s;:1
Date Agendallllm SUbjeot Transfer of funds
from the Water Fund to the
Engtewood/McLeflen R11servolr
July 6, 1999 11 ell Foundation
Initiated By I Staff Source
....__ Department of Financial Services Frank Gryglewlcz, Director of Financial Services
COUNCIL GOAL AND PREVIOUS COUNCIL I\CTION
The Council approved the creation the Englewood/Mclellan Reservoir Foundation on flrlt reading on
May 3, 1999.
RECOMMENDED ACTION
Staff recommends the City Council approve the attached resolution to transfer $100,000 from the
Water Fund to the Englewood/McLellan Reservoir Foundation . These funds will be used for
redevelopment activities. When the Foundation's activities generate funds not required for continued
operations , the funds will be paid back to the Water Fund .
The Foundation will provide a budget and periodic spending and activity reports to City Council.
The sources and uses of funds are :
WATER FUND:
Source of Funds:
Retained Earnings $100,000
Uy of Funds:
Transfers Out to Englewood/Mclellan Reservoir Fund $100,000
The City of Englewood is required by City Charter to transfer funds from one fund to another by
resolution.
FINANCIAL IMPACT
This action will reduce the funds available in the Water Fund by $100,000 and increase the funds
available to the Englewood/Mclellan Reservoir Foundation by $100,000.
LIST OF ATTACHMEtfrS
Proposed resolution
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