HomeMy WebLinkAbout059 - 06/07/2005 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROGRAM Y ORDINANCE NO. 059, 2005
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 ("Charter")
permits 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 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 2005-2006 unanticipated revenue in
the form of federal Community Development Block Grant ("CDBG") funds totaling $1,154,086,
constituting a new revenue source; and
WHEREAS,unexpended funds are also available from the CDBG program from prior fiscal
years in the amount of$60,831; and
WHEREAS, City staff has determined that the appropriation of unanticipated CDBG grant
revenue from the U.S. Department of Housing and Urban Development ("HUD") as described
herein will not result in total appropriations in excess of the current estimate of actual and
anticipated revenues for fiscal year 2005; and
WHEREAS, by adoption of Resolution 2005-055 City Council approved the 2005-2006
Community Development Block Grant Program; and
WHEREAS,by adoption of Resolution 2005-056 City Council authorized the City Manager
to transmit for approval the 2005-2006 Fort Collins Consolidated Annual Action Plan to HUD as
required to receive the grant funds.
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 2005-2006 into the Community Development Block Grant Fund, the sum
of ONE MILLION ONE HUNDRED FIFTY-FOUR THOUSAND EIGHTY-SIX DOLLARS
($1,154,086), upon receipt thereof from federal fiscal year 2005-2006 Community Development
Block Grant Funds.
Section 2. That the unexpended and unencumbered amount of SIXTY THOUSAND
EIGHT HUNDRED THIRTY ONE DOLLARS($60,831)is hereby authorized for transfer from the
2004-2005 Community Development Block Grant Program to the 2005-2006 Community
Development Block Grant Program and appropriated therein.
Introduced, considered favorably on first reading, and ordered published this 17th day of
May, A.D. 2005, and to be presented for final passage on the 7 h day of June, A.D. 2005.
May
ATTEST:
�JUL U �".
City Clerk
Passed and adopted on final reading this 7th dalzi�
Ma r
ATTEST:
City Clerk