Regular 3.
Regular City Council Meeting
- Meeting Date:
- 06/25/2012
- TITLE
- Public Hearing and Approval of Resolution Approving and Adopting Fourth Quarter Budget Amendment for Fiscal Year 2011/2012
- PRESENTED BY:
- Patrick M. Weber
- Department:
- City Hall Administration
Presentation:
Information
PROBLEM/ISSUE STATEMENT
Fourth Quarter Budget amendments for Fiscal year 2011/2012 are requested for the following:
Funding of $18,384,000 for the library construction was approved in the FY 12 Library Construction fund budget. Anticipated site preparation costs of $700,000 will be paid with a transfer of Library reserves to the construction fund. An amendment is requested to complete the transfer and pay for the site preparation costs.
During FY 12, the police department purchased in-car cameras using drug forfeiture fund reserves and financing. This amendment is for the portion of costs that used fund reserves.
On May 29, 2012, Council approved the contract with IAFF Local 521, which is a 2-year labor contract effective 7/1/11 - 6/30/13. A budget amendment is requested to account for the benefit of $950 per employee to a qualified retirement plan on behalf of the employee from the City for a total of $105,450 for FY 12.
On May 29, 2012, Council approved the use of Council Contingency funds to be transferred to the Human Resources Department for the Human Relations Board.
The Series 2000 Parks Improvements Fund projects have been completed and the remaining cash amounts will be transferred to the related debt service fund. This amendment is being requested to allow for enough budget to pay the contracts and complete the transfer to the debt service fund.
The Aquatic Facilities Construction Fund paid for pool liners at Rose Park. Budget authority is needed for a final contract payment. Remaining Fund cash will be used and the Fund will be closed.
The Dehler Park construction payments and related retainage have been completed. The remaining cash balances will be transferred to the series A and series B debt service funds. Donations were received for netting improvements at the Dehler Park dugouts and reserves were used to complete the construction.
East TIF planning/study costs and reimbursements to private developers were higher than originally budgeted. A budget amendment is needed to increase the expense budget and will use current tax increment receipts.
Public utilities costs for the Fire Hydrant Fund have been higher than budgeted. Reserves will be used to pay for the increased costs.
Public Works is requesting a budget amendment for bond sale issuance costs on various sidewalk projects and construction expenses for the 2012 Miscellaneous, Curb, Gutter, and Sidewalk project. All expenses are paid for through the sale of bonds.
Funding of $18,384,000 for the library construction was approved in the FY 12 Library Construction fund budget. Anticipated site preparation costs of $700,000 will be paid with a transfer of Library reserves to the construction fund. An amendment is requested to complete the transfer and pay for the site preparation costs.
During FY 12, the police department purchased in-car cameras using drug forfeiture fund reserves and financing. This amendment is for the portion of costs that used fund reserves.
On May 29, 2012, Council approved the contract with IAFF Local 521, which is a 2-year labor contract effective 7/1/11 - 6/30/13. A budget amendment is requested to account for the benefit of $950 per employee to a qualified retirement plan on behalf of the employee from the City for a total of $105,450 for FY 12.
On May 29, 2012, Council approved the use of Council Contingency funds to be transferred to the Human Resources Department for the Human Relations Board.
The Series 2000 Parks Improvements Fund projects have been completed and the remaining cash amounts will be transferred to the related debt service fund. This amendment is being requested to allow for enough budget to pay the contracts and complete the transfer to the debt service fund.
The Aquatic Facilities Construction Fund paid for pool liners at Rose Park. Budget authority is needed for a final contract payment. Remaining Fund cash will be used and the Fund will be closed.
The Dehler Park construction payments and related retainage have been completed. The remaining cash balances will be transferred to the series A and series B debt service funds. Donations were received for netting improvements at the Dehler Park dugouts and reserves were used to complete the construction.
East TIF planning/study costs and reimbursements to private developers were higher than originally budgeted. A budget amendment is needed to increase the expense budget and will use current tax increment receipts.
Public utilities costs for the Fire Hydrant Fund have been higher than budgeted. Reserves will be used to pay for the increased costs.
Public Works is requesting a budget amendment for bond sale issuance costs on various sidewalk projects and construction expenses for the 2012 Miscellaneous, Curb, Gutter, and Sidewalk project. All expenses are paid for through the sale of bonds.
ALTERNATIVES ANALYZED
The Council may approve or not approve the budget amendments. In several cases, the Council approved projects and expenditures from the affected Funds with the knowledge that amendments would be needed before the end of the fiscal year. Spending more than is permitted by official Council action would violate the state's municipal budget law.
FINANCIAL IMPACT
The requested budget amendments will be funded by additional revenues or reserves as indicated on the Resolution attachment.
RECOMMENDATION
Staff recommends that the City Council conduct a public hearing and approve the resolution approving and adopting the fourth quarter budget amendments for Fiscal Year 2011/2012.