Loading...
HomeMy WebLinkAbout059 - 06/07/2005 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROGRAM Y ORDINANCE NO. 059, 2005 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 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, 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 2005-2006 unanticipated revenue in the form of federal Community Development Block Grant ("CDBG") funds totaling $1,154,086, constituting a new revenue source; and WHEREAS,unexpended funds are also available from the CDBG program from prior fiscal years in the amount of$60,831; and WHEREAS, City staff has determined that the appropriation of unanticipated CDBG grant revenue from the U.S. Department of Housing and Urban Development ("HUD") as described herein will not result in total appropriations in excess of the current estimate of actual and anticipated revenues for fiscal year 2005; and WHEREAS, by adoption of Resolution 2005-055 City Council approved the 2005-2006 Community Development Block Grant Program; and WHEREAS,by adoption of Resolution 2005-056 City Council authorized the City Manager to transmit for approval the 2005-2006 Fort Collins Consolidated Annual Action Plan to HUD as required to receive the grant funds. 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 2005-2006 into the Community Development Block Grant Fund, the sum of ONE MILLION ONE HUNDRED FIFTY-FOUR THOUSAND EIGHTY-SIX DOLLARS ($1,154,086), upon receipt thereof from federal fiscal year 2005-2006 Community Development Block Grant Funds. Section 2. That the unexpended and unencumbered amount of SIXTY THOUSAND EIGHT HUNDRED THIRTY ONE DOLLARS($60,831)is hereby authorized for transfer from the 2004-2005 Community Development Block Grant Program to the 2005-2006 Community Development Block Grant Program and appropriated therein. Introduced, considered favorably on first reading, and ordered published this 17th day of May, A.D. 2005, and to be presented for final passage on the 7 h day of June, A.D. 2005. May ATTEST: �JUL U �". City Clerk Passed and adopted on final reading this 7th dalzi� Ma r ATTEST: City Clerk