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HomeMy WebLinkAbout087 - 05/15/2001 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROGRAM Y ORDINANCE NO. 87, 2001 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 (the "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 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 2001-2002 unanticipated revenue in the form of federal Community Development Block Grant (CDBG) funds totaling $1,227,000, constituting a new revenue source; and WHEREAS, the City expects to receive CDBG Program income in the 2001-2002 federal fiscal year in the amount of$89,651; and WHEREAS, unexpended funds are also available from the CDBG program for the federal 2001-2002 fiscal year in the amount of$403,151; and WHEREAS, City staff has determined that the appropriation of unanticipated CDBG grant revenue from the U.S.Department of Housing and Urban Development and unanticipated Program Income in the amount of $89,651, will not result in total appropriations in excess of the current estimate of actual and anticipated revenues for fiscal year 2001; and WHEREAS, by adoption of Resolution 2001-68 the City Council approved the 2001-2002 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 federal fiscal year 2001-2002 into the Community Development Block Grant Fund, the sum of ONE MILLION TWO HUNDRED TWENTY-SEVEN THOUSAND DOLLARS ($1,227,000), upon receipt thereof from federal fiscal year 2001-2002 Community Development Block Grant Funds. Section 2. That there is hereby appropriated from unanticipated program income revenue for approved Community Block Grant projects,upon receipt thereof into the Community Development Block Grant Fund, the amount of EIGHTY-NINE THOUSAND SIX HUNDRED FIFTY-ONE DOLLARS ($89,651) for approved Community Development Block Grant projects. Section 3. That the unexpended and unencumbered amount of FOUR HUNDRED THREE THOUSAND ONE HUNDRED FIFTY-ONE DOLLARS ($403,151) is hereby authorized for transfer from the 2000-2001 Community Development Block Grant Program to the 2001-2002 Community Development Block Grant Program and appropriated therein. Introduced,considered favorably on first reading,and ordered published this 1 st day of May, A.D. 2001, and to be presented for final passage on the 15th day of May, A.D. 2001. Mayor R ATTEST: City Clerk Passed and adopted on final reading this 15th day of May, A.D.'�001. Mayor ATTEST: - 4."L k ,Y. City Clerk