HomeMy WebLinkAbout045 - 06/05/2012 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROGRAM Y ORDINANCE NO. 045, 2012
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER
OF APPROPRIATIONS BETWEEN PROGRAM YEARS IN THE HOME
INVESTMENT PARTNERSHIPS FUND
WHEREAS, the Home Investment Partnership Program (the "HOME Program") was
authorized by the National Affordable Housing Act of 1990 to provide funds in the form of
Participating Jurisdiction Grants for a variety of housing-related activities which would increase the
supply of decent, safe, and affordable housing; and
WHEREAS,on March 1, 1994,the City Council adopted Resolution 1994-092 authorizing
the Mayor to submit to the Department of Housing and Urban Development("HUD")a notification
of intent to participate in the HOME Program; and
WHEREAS, on May 26, 1994, HUD designated the City as a Participating Jurisdiction in
the HOME Program, allowing the City to receive an allocation of HOME Program funds as long as
Congress re-authorizes and continues to fund the program; and.
WHEREAS, the City has been notified by HUD that the City's HOME Participating
Jurisdiction Grant for the federal fiscal year 2012-2013 is $542,507; and
WHEREAS,the City also received unanticipated HOME Program income in the 2011-2012
federal fiscal year in the amount of$201,326; and
WHEREAS,unexpended funds are also available from Community Housing Development
Organizations (CHDO) funds in the amount of$89,888; and
WHEREAS, Article V, Section 9, of the City 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 unexpected 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, City staff has determined that the appropriation of the HOME Program funds
as described herein will not cause the total amount appropriated in the HOME Program Fund to
exceed the current estimate of actual and anticipated revenues to be received in that fund during the
2012 fiscal year; and
WHEREAS, Article V, Section 11, of the City Charter provides that federal grant
appropriations shall not lapse if unexpended at the end of the fiscal year until the expiration of the
federal grant.
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 2012-2013 in the HOME Program Fund the sum of FIVE HUNDRED
FORTY-TWO THOUSAND FIVE HUNDRED SEVEN DOLLARS($542,507),upon receipt from
federal fiscal year 2012-2013 HOME Participating Jurisdiction.Grant Funds.
Section 2. That there is hereby appropriated for expenditure from unanticipated program
income revenue, upon receipt thereof, in the HOME Program Fund the sum of TWO HUNDRED
ONE THOUSAND THREE HUNDRED TWENTY-SIX DOLLARS ($201,326), for approved
HOME Program projects.
Section 3. That the unexpended and unencumbered amount of EIGHTY-NINE
THOUSAND EIGHT HUNDRED EIGHTY-EIGHT DOLLARS($89,888)is hereby authorized for
transfer from the 2011-2012 HOME Program projects to the 2012-2013 HOME Program and
appropriated therein.
Introduced, considered favorably on first reading, and ordered published this 15th day of
May, A.D. 2012, and to be presented for final passage on the 5th day of June, A.D. 2012.
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ATTEST: �L
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Interim City Clerk
Passed and adopted on final reading on the 5th day of June, A.D. 2012.
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ATTEST:
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