HomeMy WebLinkAbout097 - 06/21/1994 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER BETWEEN PROJECTS IN THE COMMUNITY D ORDINANCE NO. 97, 1994
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ORDINANCE APPROPRIATING UNANTICIPATED REVENUE AND
AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROJECTS
IN THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND
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 1994-1995
unanticipated revenue in the form of federal Community Development Block Grant
(CDBG) funds totalling $1, 187,000 constituting a new revenue source; and
WHEREAS, unexpended funds are also available from CDBG program not expended
in the federal 1993-1994 fiscal year in the amount of $30,000; and
WHEREAS, the City expects to receive CDBG Program income in the 1994-1995
federal fiscal year in the amount of $50,000; and
WHEREAS, Resolution 94-95 adopted the 1994-95 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 1994-1995 in the Community
Development Block Grant Program the sum of ONE MILLION ONE HUNDRED EIGHTY-SEVEN
THOUSAND DOLLARS AND NO/100 ($1,187,000. ) .
Section 2. That there is hereby appropriated from unanticipated program
income reve L- in federal fiscal year !994-19n in the Community Development
Block Grant fund the amount of FIFTY THOUSAND DOLLARS AND NO/100 ($50,000. ) 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 1994-1995 from the Community Development
Block Grant Program.
Introduced, considered favorably on first reading, and ordered published
this 7th day of June A.D. 1994, and to be presented for fin�Passage on t 21st
day of June, A.D. 1994.
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City Clerk
Passed and adopted on final reading this 21st d of June, A.D. 1994.
Mayor
ATTEST:
City Clerk