HomeMy WebLinkAbout1989 Resolution No. 022-R~SOLUTION NO.
, orles of l.9 89
A RESOLUTION AMLNDING THE 198& BUDGET ,
WHEREAS, the City Council of the City of Englewood, Colorado, desires to
make certain changes to the 1988 Budget :
NO\/, TH EREFORE , BE IT RE SO LVED , by the Ci ty Council of the City of
Englewood, Colorado, as follows:
Sect i on l . The following change in source and application of funds ls
hP:.:eby 1nr1de in t he Golf Course Fund :
Source of Fu nds
Go lf Cour se Fund Balance $36,000
Application of Fund s
Golf Course Administration $36,000
Sect ion 2. The Ci ty Manager and Direc tor of Finance are he reby
-to make the a bove changes to the 1988 Budge t of the City of Englewood,
ADOPTED AND APPROVED this l?Ht daLf <J/etd_, 1989 .
ATTE ST: ' . I ..
l r/t,fc'C/fl
Ci t y Cl erk
... ,.;';, .. £: 1
authorized
1, Patricia H. Crow, icy Clerk of the City of Englewood, Co lorado, do
hereby certify that the above and foregoing i s a true, accurate and complete c opy of
Resolution No . .<2!...d_, Serles of 1989.
~,v ,;J~r
Pat ric i a H. Crow
\
COUNCIL COMMUNICATION
DATE
April 17 , 1989
INITIATED BY
STAFF SOURCE
PREVIOUS COUNC I L hCTION
AGENDA ITEM
11 (e )
SUBJECT 1988 Budget Adjustment
Golf Course Fund
Finance Department • Margaret Freeman, Director
Margaret Freeman
The only prev i ous amendmen t to the 1988 Budget was Rbsolution No . 92, Series of 1988
a pprovec on 12 -19-88, that trans ferre d $168,000 from the General Fund fund balance
to the Self• In s urance Fund .
-ACTION PROPOSED
Appr o ve a motion to ad op t a resolution amending the 1988 Golf Course Fund Budget .
BACKGRO UND
As of December 14, 1988, all fund s ' 1988 op e rating budgets were within the legal
adopt1Jtl budgets ,1 nd t he o nl y adjus tm e nt r ~qu ired and requested v ia llesolution 92 ,
1988 w,1s the trans f e r to the Se lf -Insurance Fund from the General Fund . As of this
date , t he City 's i nterna l 1988 financ ial audit has been completed and the outside
aud ito rs , Price Wate rh ouse , are e xp ected to complete their audit by Ma y 12, 1989 .
All fund s a re wi t hi n th e ir l ega l 1988 budget except Golf Course Fund .
Th e Ci t y 's au di t and f i nal 1988 accounting adjustments resl·lted in the Golf Course
Fund be i ng ove r 1988 exp end i t ures budget. Total 1988 adopted revenue budget was
$7 72 ,000 while ac t u a l 1988 r evenues we re $888,114, resulting in $116,114 more col -
l er t ed ove r budge t . To ta l 1988 ex pe nd iture budget was $939,626 while total actual
expe nd l tu res ,e r e $97 5 ,571, r e sulting in $3 5 ,945 over budget . Attachment A is a
sche du l e of re ve nues and ~xpe nd i tures as of 12 ·31-88 .
Ex am inat i on o f t he Go lf Course Fund found that "costs of goods sold" (items pur•
cha s ed fo r resale t hrou gh the Pro Shop) exceeded budget by $18 ,895. The budget for
-
he Golf Course Manager position was not included for 1988 and thus personnel oer•
ices was $17,050 over 1988 budget . Tho poaltlon was created and filled ln Novem •
e r, 19 87 and no 1988 budge t appropriation waa ever made . If the b udget approprla·
tion for the Golf Co urse Manage ... po s ition had been made, the fund would have been
wlthln t he 1988 adopted budge t .
FINANCIAL
The propos ed budget transfer would be allocated from the Golf Course Fund fund
balance and the fund balance after the $36 ,000 transfer , at 12 -31-89 would be
$277,127.
Rl!:COMIIENDATION
In order t o comp l y with State statute requirements, C.R .S ., 29-1 -111 , of a legal
budget , the budget a djus t me nt of $36,000 ls required to meet the actual 19 88 expen·
dltures . It ls recommended that City Council adopt a Resolution amending the 1988
budget o f the Go lf Course Fund.
"Nbmhipl
l,tin fm
/1,\t,h
..
5 on h v11 htnh
sion,
llisctll1n1oos
Ad1inistntion1ndgtntr1l t
Co11oditiH ,1nd
contr1etul 11rvicts
Acquisition of prop,rly,
phnt ,nd tqalpml
Dtbt ltnlct
D,pmi,tio,
lbs½ of qood, IDI d
E1ptnsts
ud
Tr•nshrs
m,m
26,615
95,511
53,8'5
I 1,007 1762 I
ATTACHMENT A
FltlAL UNAUO mo
&lllf CDIJISE FIIIID
SCHEDlR.E OF REVENUES AQ EIPEISES • IUD&ET AQ ACTUAL
ltM END£11 DECEIIJER ll, ma
RE\'EIIJES
Rtv1nu11
,nd
Conlribullon1
Blldqtl Y1ri1blt
Ill Fmr,blt
Altndtdl lllnfmr,lhl ------------------·------
Encu1brancts
Dtct1btr ll, C1pihl
1988 Dulhy
7ll
23,915
I
umm
hbt Senic, Encu1br1nc11
and DtcHbtr 31,
Dtpml,tion 1987
24,079
494,0ll
110,862
l0,821
225,019
l,lOO
888,114
:z::a ::r::11":1
lot,t
Actu,I
• I 645,655
38,892
195,5711
11701 186,569
23,945
65,507
53,995
I
20,000 4,079
400,000 94,0ll
110,000 8.12
25,000 5,821
217,000 1,019
l,lOO
772,000 I 116,114
:::r:i::;::::: 1:::1:ss:::
ludqtl Yuhnct
lu Fnor1bh
Amdtdl lllnfmr,bltl ---------------
502,538 llll,1171
292,669 106,100
ll,510 19,565
65,909 102
35,000 111,ffll
7ll I 7J,m I 156,'791 11701 1 m,m I m,m I m,m1