HomeMy WebLinkAbout061 - 07/01/2008 - APPROPRIATING UNANTICIPATED REVENUE IN THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND ORDINANCE NO. 061, 2008
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE 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,the City will receive in federal fiscal year 2008-2009 unanticipated revenue in
the form of federal Community Development Block Grant ("CDBG") funds totaling $998,391,
constituting a new revenue source; and
WHEREAS, the City will also receive unanticipated CDBG Program income in the 2008-
2009 federal fiscal year in the amount of$57,000; and
WHEREAS,City staff has determined that the appropriation of all unanticipated CDBG grant
and program revenue as described herein will not result in total appropriations in excess of the
current estimate of actual and anticipated revenues for fiscal year 2008; and
WHEREAS, by adoption of Resolution 2008-052 City Council approved the 2008
Community Development Block Grant Program; and
WHEREAS,by adoption of Resolution 2008-053 City Council authorized the City Manager
to transmit for approval the 2008 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 2008-2009 into the Community Development Block Grant Fund,the sum
of NINE HUNDRED NINETY-EIGHT THOUSAND THREE HUNDRED NINETY-ONE
DOLLARS ($998,391), upon receipt thereof from federal fiscal year 2008-2009 Community
Development Block Grant Funds.
Section 2. That there is hereby appropriated for expenditure from unanticipated program
income revenue,upon receipt thereof into the Community Development Block Grant Fund,the sum
of FIFTY SEVEN THOUSAND DOLLARS ($57,000), for approved Community Development
Block Grant projects.
Introduced,considered favorably on first reading,and ordered published this 3rd day of June,
A.D. 2008, and to be presented for final passage on the I st da J ly, A.D. 2008.
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Mayo
ATTEST:
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City Clerk
Passed and adopted on final reading on the 1st day of Ju �D. 2008.
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ATTEST:
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City Clerk 1