HomeMy WebLinkAbout050 - 06/01/1993 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING TRANSFER OF APPROPRIATIONS BETWEEN PROJECTS IN C ORDINANCE NO. 50, 1993
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE AND
AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN
PROJECTS IN THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND
WHEREAS, Article V, Section 14, of the Charter of the City of Fort Collins
permits the Council to appropriate unanticipated revenue which results from rate
or fee increases or new revenue sources at any time during the year in which such
revenue is received; and to transfer unexpended appropriated amounts from one
fund to another fund, provided the purpose for which the transferred funds are
to be expended remains unchanged; and
WHEREAS, Article V, Section 9, of the Charter provides that federal grant
appropriations shall not lapse if unexpended at the end of the budget year until
the expiration of the federal grant; and
WHEREAS, the City will receive in federal fiscal year 1993-1994
unanticipated revenue in the form of federal Community Development Block Grant
(CDBG) funds totalling $1,091,000 constituting a new revenue source; and
WHEREAS, unexpended funds are also available from CDBG programs not
expended in the federal 1992-1993 fiscal year in the amount of $50,000; and
WHEREAS, the City expects to receive CDBG Program income in the 1993-1994
federal fiscal year in the amount of $90,000; and
WHEREAS, Resolution 93-71 adopted the 1993-94 Community Development Block
Grant Program.
NOW, THEREFORE BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS:
Section 1. That there is hereby appropriated unanticipated revenue from
the federal Community Development Block Grant funds for expenditure in the
federal fiscal year 1993-1994 in the Community Development Block Grant Program
the sum of ONE MILLION NINETY-ONE THOUSAND DOLLARS AND NO/100 ($1,091,000) .
Section 2. That unexpended appropriations from the Community Development
Block Grant Program for federal fiscal year 1992-93 in the sum of FIFTY THOUSAND
DOLLARS AND NO/100 ($50,000) are hereby authorized from transfer to the Community
Block Grant program for federal fiscal year 1993-94 to be used for approved
Community Development Block Grant projects.
Section 3. That there is hereby appropriated from unanticipated CDBG
program income revenue in federal fiscal year 1993-1994 the amount of NINETY
THOUSAND DOLLARS AND NO/100 ($90,000) for approved Community Development Block
Grant projects. This appropriation is contingent upon the City's actual receipt
of this unanticipated revenue, and the amounts appropriated under this Section
2 shall not exceed the CDBG program income revenue actually received during
federal fiscal year 1993-1994 from the Community Development Block Grant Program.
Introduced, considered favorably on first reading, and ordered published
this 18th day of May, A.D. 1993, and to be presented for final passage on the 1st
day of June, A.D. 1993.
Mayor \
ATTEST:
City Clerk
Passed and adopted on final reading this 1st day of June, A.D. 1993.
ayor
ATTEST:.
M�nla
City Clerk