HomeMy WebLinkAbout052 - 05/05/1992 - TRANSFERRING APPROPRIATIONS FOR THREE CHOICES 95 CAPITAL PROJECTS ORDINANCE NO. 52 , 1992
OF THE COUNCIL OF THE CITY OF FORT COLLINS
TRANSFERRING APPROPRIATIONS AND APPROPRIATING FUNDS
IN THE CAPITAL PROJECTS FUND FOR THREE CHOICES 95 CAPITAL PROJECTS
WHEREAS, the estimated cost of the recommended design for three Choices 95
capital projects: 1) Prospect/Shields Intersection; 2) Prospect/Taft Hill
Intersection; and 3) Prospect, Shields to Taft Hill , exceeds the project budgets
by Seven Hundred Forty-Six Thousand Dollars ($746,000) ; and
WHEREAS, the conceptual design reflects input received from the public and
from City staff through an extensive public participation process; and
WHEREAS, the increase in the estimated design costs for the aforementioned
projects is the result of an error in the original budget estimates and changes
in the scope of the recommended improvements; and
WHEREAS, staff is recommending proceeding with full arterial improvements
identified during the conceptual design process; and
WHEREAS, Article V, Section 7, of the Charter of the City of Fort Collins
(the "Charter") , authorizes the City Council to provide by ordinance for payment
of any expense from reserves accumulated in prior years, notwithstanding that
such reserves were not appropriated for expenditure in the annual appropriation
ordinance; and
WHEREAS, Article V, Section 14, of the Charter authorizes the City Council
to transfer by ordinance, upon the recommendation of the City Manager, any
unexpended appropriated amount or portion thereof from one fund to another,
provided that the purpose for which the transferred funds are to be expended
remains unchanged or the purpose for which the funds were initially appropriated
no longer exists; and
WHEREAS, Article V, Section 4, of the Charter requires that capital
projects be itemized in the budget by individual project; and
WHEREAS, the result of such itemization is that each individual capital
project in the budget is treated as a separate fund; and
WHEREAS, City Council finds that increasing the scope of the improvements
to the said projects is in the best interests of the City; and
WHEREAS, the additional SEVEN HUNDRED FORTY-SIX THOUSAND DOLLARS ($746,000)
needed for the Prospect/Shields Intersection, Prospect/Taft Hill Intersection,
and the Prospect, Shields to Taft Hill Choices 95 capital projects is available
within the Capital Projects Fund from the following revenue sources:
0 Choices 95 Capital Projects Fund Balance -
Interest Income $145,000
0 Choices 95 Capital Projects - Project
Savings - Shields, Davidson to Casa Grande 45,000
0 Choices 95 Capital Projects - Project
Savings - Prospect/Lemay Intersection 100,000
0 1/4 Cent Necessary Capital Projects Fund
Balance - Interest Income, Project Savings 319,000
0 Street Oversizing Fund - Existing
Appropriations 108,000
0 General City Capital Projects Fund Balance 29,000
Total $746,000
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
as follows:
Section 1 . That there is hereby appropriated from prior year reserves in
Choices 95 Capital Projects ONE HUNDRED FORTY-FIVE THOUSAND DOLLARS ($145,000)
to be used for conceptual design of the Prospect/Shields Intersection,
Prospect/Taft Hill Intersection, and Prospect, Shields to Taft Hill Choices 95
capital projects.
Section 2. That the unexpended appropriated amount of FORTY-FIVE THOUSAND
DOLLARS ($45,000) is authorized for transfer from the Choices 95, Shields,
Davidson to Casa Grande capital project to the Choices 95, Prospect, Shields to
Taft Hill capital project.
Section 3. That the unexpended appropriated amount of ONE HUNDRED THOUSAND
DOLLARS ($100,000) is authorized for transfer from the Choices 95, Prospect/Lemay
Intersection capital project to the Choices 95, Prospect, Shields to Taft Hill
capital project.
Section 4. That there is hereby appropriated from prior year reserves in
1/4 Cent Necessary Capital Projects Fund THREE HUNDRED NINETEEN THOUSAND DOLLARS
($319,000) for transfer to Choices 95 Capital Projects and appropriated therein
for conceptual design costs of the Prospect/Shields Intersection, Prospect/Taft
Hill Intersection, and Prospect, Shields to Taft Hill capital projects.
Section 5. That the unexpended appropriated amount of ONE HUNDRED EIGHT
THOUSAND DOLLARS ($108,000) is authorized for transfer from the Street Oversizing
Fund to the Capital Projects Fund - Choices 95 capital projects and appropriated
therein for expenditure for conceptual design of the Prospect/Shields
Intersection, Prospect/Taft Hill Intersection, and Prospect, Shields to Taft Hill
capital projects.
Section 6. That there is hereby appropriated from prior year reserves in
General City Capital Projects TWENTY-NINE THOUSAND DOLLARS ($29,000) for transfer
to Choices 95 Capital Projects and appropriated therein for conceptual design
costs of the Prospect/Shields Intersection, Prospect/Taft Hill Intersection, and
Prospect, Shields to Taft Hill capital projects.
Introduced, considered favorably on first reading, and ordered published
this 21st day of April , A.D. 1992, and to be considered for final passage on the
5th day of May, A.D. 1992.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 5th day of May, A.D. 1992.
Mayor
ATTEST:
An
City Clerk '