HomeMy WebLinkAbout094 - 08/16/2016 - APPROPRIATING PRIOR YEAR RESERVES IN THE CAPITAL EXPANSION FUND FOR TRANSFER TO THE CAPITAL PROJECTS6
ORDINANCE NO. 094, 2016
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE CAPITAL EXPANSION
FUND FOR TRANSFER TO THE CAPITAL PROJECTS FUND AND THE
CULTURAL SERVICES AND FACILITIES FUND FOR THE ART IN
PUBLIC PLACES PROGRAM FOR THE SOUTHEAST COMMUNITY PARK
WHEREAS, in order to construct the Southeast Community Project (the "Project") as
designed and on the current schedule, staff has identified a need for additional funding; and
WHEREAS, staff has identified One Million Six Hundred Thirty Eight Thousand Dollars
1,638,000) available from the Capital Expansion Fund Reserves as an eligible funding source
to complete the Project as designed; and
WHEREAS, staff presented its proposal for additional Project funding and sought
Council input at the June 28, 2016 Council work session; and
WHEREAS, under the City Code, one percent of the final appropriation for the Project
must be transferred to the Cultural Services and Facilities Fund for a contribution to the Art in
Public Places (APP) program, with 75% (totaling $12,776) reserved for the APP artwork
component of project and 25% (totaling $3,604) reserved for maintenance of the artwork and
operations of the APP program; and
WHEREAS, Article V, Section 9, of the City Charter permits the City Council to
make supplemental appropriation by ordinance at any time during the fiscal year, provided
that the total amount of such supplemental appropriation, in combination with all previous
appropriations for that fiscal year, does not exceed the current estimate of actual and anticipated
revenues to be received during the fiscal year; and
WHEREAS, staff has determined the appropriation of revenue proposed herein will not
cause the total amount.appropriated in the Capital Projects Fund to exceed the current estimate of
actual and anticipated revenues to be received in that fund during any fiscal year; and
WHEREAS, Article V, Section 9 of the City Charter permits the City Council to
appropriate by ordinance at any time during the fiscal year such funds for expenditure as may I
be available from reserves accumulated in prior years, notwithstanding that such reserves were
not previously appropriated; and
WHEREAS, Article V, Section 10, of the City Charter authorizes the City Council to .
transfer by ordinance any unexpended and unencumbered appropriated amount or portion thereof
from one fund (project).to another fund (project), provided that the purpose for which the
transferred funds are to be expended remains unchanged.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
4-
Section 1. That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.
Section 2. That there is hereby appropriated from prior year reserves in the Capital
Expansion Fund the sum of ONE MILLION SIX HUNDRED THIRTY EIGHT THOUSAND
DOLLARS ($1,638,000) for transfer to and expenditure in the Capital Projects Fund for the
Southeast Community Park Project.
Section 3. That the unexpended appropriated amount of TWELVE THOUSAND
SEVEN HUNDRED SEVENTY SIX DOLLARS ($12,776) in the Capital Projects Fund for the
Southeast Community Park Project is authorized for transfer to the Cultural Services and
Facilities Fund and appropriated therein for the Art in Public Places Art Project.
Section 4. That the unexpended appropriated amount of THREE THOUSAND SIX
HUNDRED FOUR DOLLARS ($3,604) in the Capital Projects Fund for the Southeast
Community Park Project is authorized for transfer to the Cultural Services and Facilities Fund
and appropriated therein for the Art in Public Places Maintenance and Operations.
Introduced, considered favorably on first reading, and ordered published this 19th day of
July, A.D. 2016;and to be presented for-final passage on the 16th day of August, A.D. 2016.
C"
s
ayor
ATTEST:
cO ORADO
City Clerk
Passed and adopted on final reading on this 16th day of August, A.D. 2016.
O
ORT COi'
y
y Mayor
o
ATTEST:
COLOIX
City Clerk
2-