HomeMy WebLinkAbout072 - 06/05/2007 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROGRAM Y ORDINANCE NO. 072, 2007
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 anytime 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 2007-2008 unanticipated revenue in
the form of federal Community v m Development ment Block Grant "CDBG
Y p ("CDBG") totaling $1,034,986,
constituting a new revenue source; and
WHEREAS, the City will receive unanticipated CDBG Program income in the 2007-2008
federal fiscal year in the amount of$18,500; and
WHEREAS,unexpended funds are also available from the CDBG program from prior fiscal
years in the amount of$37,958; and
WHEREAS,City staffhas determined that the appropriation of all unanticipated CDBG grant
and program revenue as described herein will not result in total appropriations in excess of the
current estimate of actual and anticipated revenues for fiscal year 2007; and
WHEREAS, by adoption of Resolution 2007-050 City Council approved the 2007-2008
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 Community Development Block Grant Fund, the sum of ONE MILLION THIRTY-FOUR
THOUSAND NINE HUNDRED EIGHTY-SIX DOLLARS($1,034,986),upon receipt thereof from
federal fiscal year 2007-2008 Community Development Block Grant Funds.
Section 2. That there is hereby appropriated for expenditure from unanticipated program
income revenue,upon receipt thereof into the Community Development Block Grant Fund,the sum
of EIGHTEEN THOUSAND FIVE HUNDRED DOLLARS ($18,500), for approved Community
Development Block Grant projects.
Section 3. That the unexpended and unencumbered amount of SEVEN THOUSAND
NINE HUNDRED NINETY-THREE DOLLARS($7,993)is hereby authorized fortransferfrom the
2004-2005 Community Development Block Grant Program to the 2007-2008 Community
Development Block Grant Program and appropriated therein.
Section4. That the unexpended and unencumbered amount of TWENTY-NINE
THOUSAND NINE HUNDRED SIXTY-FIVE DOLLARS ($29,965) is hereby authorized for
transfer from the 2006-2007 Community Development Block Grant Program to the 2007-2008
Community Development Block Grant Program and appropriated therein.
Introduced, considered favorably on first reading, and ordered published this 15th day of
May, A.D. 2007, and to be presented for final passag4ay
ay of June, A.D. 2007.
ATTEST:
46AL
City Clerk
Passed and adopted on final reading this 5th day of Ju , D. 2007.
Mayo
ATTEST:
City Clerk