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Home My WebLink About1998-05-06 PACKET 04.G.REQUE OF CITY COUNCI ACTION COUNCIL AGEIVDA MEETING ITEM # , i • � 9 DATE 5/6/98 �°[" . PREPARED BY Finance Liz Johnson OFZlGINATING DEPAF2TPNENT STAFF AUTHOR ,.<><,��>��,��<.��.<��<..�<>��...�,.��.��>��. COUNCIL ACTION REQUES Adopt reso�ution amending 1998 General Fund adopted budget and resolution approving interfund transfer to Weter Enterprise Fund to finance roof repair for public works expansion project. BUDGET IMPLICATION $ BUDGETED AMOUNT ADVISQRY COMMISSION ACTION ❑ PLANNIPJG ❑ PUBLIC SAFETY ❑ PUBLIC WORKS ❑ PARKS AND RECREATION ❑ HUMAN SERVICES/RIGHTS ❑ ECONOMIC DEV. AUTHORITY ❑ SUPPORTING DOCUMENTS DATE $ ACTUAL AMOUNT FUNDING SOURCE REVIEWED � ❑ ❑ ❑ ❑ ❑ ❑ APPROVED ❑ ❑ ❑ ❑ ❑ ❑ 0 DENIED ❑ ❑ ❑ ❑ ❑ ❑ ❑ � MEMO/LETTER: � RESOLUTION: ❑ ORDINANCE: ❑ ENCaINEERING RE�(JMMFfvDATION: ❑ LEGAL RE�d�iMENDATidN: ❑ OTHER: ADMIfVISTRATORS COMMERlTS � -� - _ �__- -� ��j/� — ity Administrator Date ♦:t w.r f: . t x� w t + a a n rt a x rt x: i: w�.t <+:r w a x» t :r � t a w x x+ x a>:t r: m:t cau�ci� acTia� TAK��: C,l a��RavE� C] a��a C=� o�H�r� To: Ryan Schroeder, City Adrrzinistra2or From: Liz Johnson, Acting Finance DirecTOr �' DaYe: 04/30/98 Re: Public works expansion budget changes Introduction A leak in tl�e roof of the public works building was identified between tl�e existing building and the expai�sion. It is estimated to cost approximately $80,900 to repair this leak. Staff has been directed to devise a Way to provide funding for this repair within the existing budgeTS. Discussion The various sources identified to pay for This repair are: Fund General General General Sewer Street Lights Amount $33,500 16,500 15,000 ] 0,000 5,900 These budget changes equal $80,900. Account Streets Parks Mtce Pool Sewer St Lts Description Culvert restoration and ditch repair Grass seed, fertilizer and salaries ADA modifications Televise lines Salaries A»y culvert and difch repair that has been scheduled for 1998 would be deferred mrtil ] 999. The same applies to the grass seed, fertilizer, pool modifications and televising sewer Iines. Salary expenditures can be used due to reduced staffing levels. The public works expansion has been financed through a bond issue and amounts transferred from the Closed Debt Fund. The debt issuance a�d construction expenses are accounted for in tUe Water Enterprise Fund. A resolution approving a budget amendment and a separate resolution adopting an it�Yerfund transfer will be needed to accomplish tivs task. The City is legally required to adopt annua] budgets for the General Fund and Speciaf Revenue Funds. The City also adopts budgets for Enterprise and Intemal Service funds. We are only required to report budget to aetual differences for Ge»eral and Special Revenue 0 Apri� 30, 1998 funds in the financial statements. Therefore, the Council will need to approve a budget amendment for the General Fund and a separate interfund transfer from the General Fund, Sewer and Street Ligl�t Funds to the WaYer Enterprise Fui�d. RequesYed AcYion Approve the budget cl�anges as above and adopt a resolution modifying tl�e 1998 General Fund budget. Adopt a resolution transferring the appropriate amounts Co the Water Enterprise Fund. RESOLUTION NO. 98- RESOLUTION APPROVING INTERFUND TRANSFER FROM GENERAL FUND (100), SEWER ENTERPRISE (620) AND STREET LIGHT ENTERPRISE (630) TO WATER ENTERPRISE FUND (610) WHEREAS, the public works expansion did not budget for necessary roof repairs WHEREAS, funds are availabie in the current operating budgets of the General Fund, Sewer Enterprise Fund and Street Light Fund, NOW THEREFORE BE IT RESOLVED, by the City Council of the City of Cottage Grove, County of Washington, State of Minnesota, that the following interfund transfer be made: FROM TO General (100) Water (610) Sewer (620} Water (610) Street Lights (630) Water (610) AMOUNT $65,000.00 10, 000.00 5,900.00 Passed this 6th day of May, 1998. Attest: John D. Denzer, Mayor Caron M. Stransky, City Clerk RESOLUTION NO. 98- AMENDING 1998 GENERAL FUND BUDGET WHEREAS, the Council approved the Public Works expansion project WHEREAS, the expansion budget did not include funds for roof repair and funds are available in the General Fund budget, NOW THEREFORE BE IT RESOLVED, tfiat the 1998 Generai Fund budget be amended as follows: � Account Fund ' Decrease Amount Description Generai 1200-4271 33,500.00 Culvert/ditch repair General 1500-4210 8,000.00 Grass seed/fertilizer General � 1500-4100 8,500.00 FT salaries General 2000-4370 15,000.00 ADA modifications Passed this 6th day of May, 1998. John D. Denzer, Mayor Attest: Caron M. Stransky, City Clerk