HomeMy WebLinkAbout074 - 05/21/2002 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROGRAM Y ORDINANCE NO. 074, 2002
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, does 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 2002-2003 unanticipated revenue in
the form of federal Community Development Block Grant (CDBG) funds totaling $1,209,000,
constituting a new revenue source; and
WHEREAS, the City expects to receive CDBG Program income in the 2002-2003 federal
fiscal year in the amount of$87,712; and
WHEREAS, unexpended funds are also available from the CDBG program for the federal
2001-2002 fiscal year in the amount of$767,262; 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, as described herein, will not result in total appropriations in excess of the current estimate
of actual and anticipated revenues for fiscal year 2002; and
WHEREAS,by adoption of Resolution 2002-048 the City Council approved the 2002-2003
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 2002-2003 into the Community Development Block Grant Fund, the sum of
ONE MILLION TWO HUNDRED NINE THOUSAND DOLLARS ($1,209,000), upon receipt
thereof from federal fiscal year 2002-2003 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 thereof into the Community Development
Block Grant Fund,the amount of EIGHTY-SEVEN THOUSAND SEVEN HUNDRED TWELVE
DOLLARS ($87,712) for approved Community Development Block Grant projects.
Section 3. That the unexpended and unencumbered amount of SEVEN HUNDRED SIXTY-
SEVEN THOUSAND TWO HUNDRED SIXTY-TWO DOLLARS($767,262)is hereby authorized
for transfer from the 2001-2002 Community Development Block Grant Program to the 2002-2003
Community Development Block Grant Program and appropriated therein.
. Introduced,considered favorably on first reading,and ordered published this 7th day of May,
A.D. 2002, and to be presented for final passage on the 21 st day of May, A.D. 2002.
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Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 21 st day of May, A.D. 2002.
MayorPro Tgn,
ATTEST:
City Clerk