HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 12/19/2000 - SECOND READING OF ORDINANCE NO. 170, 2000, APPROPR AGENDA ITEM SUMMARY ITEM NUMBER: 11
DATE: December 19, 2000
ID FORT COLLINS CITY COUNCIL
FROM: Alan Krcmarik
SUBJECT :
Second Reading of Ordinance No. 170, 2000, Appropriating Prior Year Reserves in the General
Fund, the Street Oversizing Fund, General Employee's Retirement Fund, and the Cultural Services
and Facilities Fund as Year End Adjustments.
RECOMMENDATION:
Staff recommends adoption of the Ordinance on Second Reading.
EXECUTIVE SUMMARY:
At the end of each year,appropriations that are not spent or committed to a valid contract lapse. The
funds are then placed in reserves for future expenditures. The $45,460 to be appropriated by this
Ordinance were not identified to be carried forward for Year 2000 spending. These funds should
have been carried over to 2000 to match the corresponding 2000 expenses. While preparing for the
2000 Comprehensive Annual Financial Report,staff noted this discrepancy. This Ordinance,which
was unanimously adopted on First Reading on November 21, 2000, appropriates the funds that
should have been automatically carried over into 2000. On Second Reading, staff has added the
appropriation for the General Employee's Retirement Fund. According to the General Employee's
Retirement Plan, members may elect to receive lump-sum distributions at any time. This year the
Plan has received lump-sum distribution requests totaling nearly$380,000. Staff expects additional
requests in late November and December totaling approximately$120,000. To cover these requests,
the appropriation of an additional $500,000 in the General Employee's Retirement Fund has been
added to the Ordinance on second reading.
i
AGENDA ITEM SUMMARY ITEM NUMBER: 18
FORT COLLINS CITY COUNCIL DATE: November 21, 2000
STAFF: Alan Krcmarik
SUBJECT:
i
First Reading of Ordinance No. 170,2000,Appropriating Prior Year Reserves in the General Fund,
the Street Oversizing Fund and the Cultural Services and Facilities Fund.
f
RECOMMENDATION:
1 Staff recommends adoption o e Or i ce o i t Reay
FINANCIAL IMPACT:
This Ordinance increases total City appropriations for 2000 by$45,460. Of that amount, General
Fund appropriations will be in olyfro
fpyear
w' a appropriated for the Street
Oversizing Fund and$16,500 the C 1 s fund for the Museum. Funding
for the appropriations of$45, 0 is ent re rves.
EXECUTIVE SUMMARY:
i
At the end of each year,appropriations that are not spent or committed to a valid contract lapse. The
funds are then placed in reserves for future expenditures. The $45 460 to be appropriated by this
Ordinance were not identified e c fo or e 0 spending. These funds should
have been carried over to 200 o match a co p 2 xpenses. While preparing for the
2000 Comprehensive Annual anc' o t noted thi iscrepancy. This Ordinance will
appropriate the funds that should ave been automatically carve over into 2000.
Following is a list of funds that make up the increase in appropriations from prior year reserves:
General Fund $18,808
Street Oversizing Fund 10,152
Cultural Services and Facilities Fund 16,500
Total $45.460
DATE: November 21, 2000 2 ITEM NUMBER: 18
BACKGROUND:
From the General Fund reserves, the City Administration budget should be increased by$8,975 for
cable TV broadcast expenses.
From the General Fund reserves,the Library Administration budget should be increased by$9,833
for facility improvements at the library.
From the Street Oversizing Fund reserves, the Street Oversizing budget should be increased by
$10,152 for traffic signal projects.
From the Cultural Services anCtructii
und, tions budget should be increased
by$16,500 for storage area c
These appropriations adjust the subject funds consistent with intended levels for the 2000 budget.
ORDINANCE NO. 170, 2000
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND,
THE STREET OVERSIZING FUND, GE .EM)# 3 Y ,RETII2EFUND, AND
THE CULTURAL SERVICES AND FACILITIES FUND
WHEREAS,during an administrative review of the City's encumbrances,in preparation for
closing the fiscal year 2000, it was found that encumbrances in the amount of $45,460 were not
recorded properly in 2000; and
WHEREAS, 1999 encumbrances in the amount of$45,460 were carried forward to 2000,but
the corresponding appropriations were not carried forward to 2000; and
WHEREAS,these appropriations were added to the reserves of the corresponding City funds
and are available for appropriation; and
WHEREAS,appropriations in the amount of$45,460 are needed by the departments in 2000
to offset the encumbrances carried forward from 1999 to 2000; and
y` e GP ek nE1r e eeA?op' "aiis unp b v'"Ifb, '1 un of$WHRE Rp
ai pL v� ijrbregnestedby,t
ee
WHEREAS,Article V, Section 9, of the Charter of the City of Fort Collins permits the City
Council to appropriate by ordinance at any time during the fiscal year such funds for expenditure as
may be available from reserves accumulated in prior years,notwithstanding that such reserves were
not previously appropriated.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That there is hereby appropriated for expenditure from prior year reserves in the
General Fund the total sum of EIGHTEEN THOUSAND EIGHT HUNDRED EIGHT DOLLARS
($18,808) for City Administration and Library Administration expenses.
Section 2. That there is hereby appropriated for expenditure from.prior year reserves in the
Street Oversizing Fund the total sum of TEN THOUSAND ONE HUNDRED FIFTY-TWO
DOLLARS ($10,152) for Traffic Signal Projects.
Section 3. That there is hereby appropriated for expenditure from prior year reserves in the
Cultural Services and Facilities Fund the total sum of SIXTEEN THOUSAND FIVE HUNDRED
DOLLARS ($16,500) for the construction of a storage area.
e attlt0 appFod far r on pryer reserves in the
u�
p >,
a 3ED THOUSAND
Introduced, considered favorably on first reading, and ordered published this 21 st day of
November, A.D. 2000, and to be presented for final passage on the 19th day of December, A.D.
2000.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 19th day of December, A.D. 2000.
Mayor
ATTEST:
City Clerk