HomeMy WebLinkAbout107 - 06/16/1998 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROGRAM Y ORDINANCE NO. 107, 1998
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE AND
AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROGRAM YEARS
IN THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND
WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins (the"Charter")
permits the City Council to make supplemental appropriations by ordinance at any time during the
fiscal year,provided that the total amount of such supplemental appropriations,in combination with
all previous appropriations for that fiscal year, do not exceed the then current estimate of actual and
anticipated revenues to be received during the fiscal year; and
WHEREAS,Article V, Section 10,of the Charter authorizes the City Council to transfer by
ordinance any unexpended and unencumbered amount or portion thereof from one fund or capital
project to another fund or capital project,provided that the purpose for which the funds were initially
appropriated no longer exists; and
WHEREAS,Article V, Section 11,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 1998-1999 unanticipated revenue in
the form of federal Community Development Block Grant (CDBG) funds totaling $1,162,000,
constituting a new revenue source; and
WHEREAS, the City expects to receive CDBG Program income in the 1998-1999 federal
fiscal year in the amount of$50,000; and
WHEREAS, unexpended funds are also available from the CDBG program for the federal
1997-1998 fiscal year in the amount of$216,875; and
WHEREAS, City staff has determined that the appropriation of unanticipated CDBG grant
revenue from the U.S. Department of Housing and Urban Development and unanticipated Program
Income in the amount of$50,000, will not result in total appropriations in excess of the current
estimate of actual and anticipated revenues for fiscal year 1998; and
WHEREAS, Resolution 98-91, approved by the City Council on June 2, 1998, adopted the
1998-1999 Community Development Block Grant Program.
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 unanticipated revenue in
the federal fiscal year 1998-1999 in the Community Development Block Grant Fund the sum of
ONE MILLION ONE HUNDRED SIXTY-TWO THOUSAND DOLLARS ($1,162,000), upon
receipt from federal fiscal year 1998-1999 Community Development Block Grant Funds.
Section 2. That there is hereby appropriated from unanticipated program income revenue for
approved Community Block Grant projects, upon receipt in the Community Development Block
Grant Fund the amount of FIFTY THOUSAND DOLLARS ($50,000) for approved Community
Development Block Grant projects.
Section 3. That the unexpended and unencumbered amount of TWO HUNDRED SIXTEEN
THOUSAND EIGHT HUNDRED SEVENTY-FIVE DOLLARS ($216,875) is hereby authorized
for transfer from the 1997-1998 Community Development Block Grant Program to the 1998-1999
Community Development Block Grant Program.
Introduced,considered favorably on first reading,and order ub�ished this 2nd d of Jude,
A.D. 1998, and to be presented for final passage on the l6th,06y of e, A.D. 199
4
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ATTEST:
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City Clerk
Passed and adopted on final reading this 16th day of June, A.D. 1998.
Mayor r.•
ATTEST:
iLo' A
City Clerk