HomeMy WebLinkAbout072 - 07/02/1991 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN FUNDS IN ORDINANCE NO. 72, 1991
OF THE COUNCIL OF THE CITY OF FORT COLLINS
BEING AN ORDINANCE APPROPRIATING UNANTICIPATED REVENUE AND
AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN FUNDS
IN THE COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM
WHEREAS, Article V, Section 15 of the Charter of the City of Fort Collins
permits the Council to appropriate unanticipated revenue which results from rate
or fee increases or new revenue sources at any time during the year in which such
revenue is received; and to transfer unexpended appropriated amounts from one
fund to another fund provided the purpose for which the transferred funds are
to be expended remains unchanged; and
WHEREAS, Article V, Section 10 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 1991-1992
unanticipated revenue in the form of federal Community Development Block Grant
(CDBG) funds totalling $728,000 constituting a new revenue source; and
WHEREAS, unexpended funds are also available from CDBG program funds not
expended in the federal 1990-1991 fiscal year in the amount of $160,000; and
WHEREAS, the City expects to receive CDBG Program income in the 1991-1992
federal fiscal year in the amount of $30,000; and
WHEREAS, Resolution 91-85 adopted the 1991-92 Community Development Block
Grant Program.
NOW, THEREFORE BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS:
Section 1 . That there is hereby appropriated for expenditure from
unanticipated revenue in the federal fiscal year 1991-1992, in the Community
Development Block Grant Program the sum of SEVEN HUNDRED TWENTY-EIGHT THOUSAND
DOLLARS AND NO/100 ($728,000) .
Section 2. That unexpended appropriations from the Community Development
Block Grant fund for federal fiscal year 1990-1991 in the sum of ONE HUNDRED
SIXTY THOUSAND DOLLARS and NO/100 ($160,000) are hereby authorized for transfer
to Community Development Block Grant fund for federal fiscal year 1991-1992 to
be used for approved Community Development Block Grant projects.
Section 3. That there is hereby appropriated from unanticipated program
income revenue in federal fiscal year 1991-1992 in the Community Development
Block Grant fund the amount of THIRTY THOUSAND DOLLARS ($30,000) for approved
Community Development Block Grant projects. This appropriation is contingent
upon the City's actual receipt of this unanticipated revenue, and the amounts
appropriated under this Section 3 shall not exceed the amounts actually received
during federal fiscal year 1991-1992 from the Community Development Block Grant
Program.
Introduced, considered favorably on first reading, and ordered published
this 4th day of June, A.D. 1991, and to be presented for final passage on the
2nd day of July, A.D. 1991.
Mayor V
ATTEST:
City Clerk
Passed and adopted on final reading this 2nd day of July, A.D. 1991 .
Mayor
TTEST:
City Clerk