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HomeMy WebLinkAbout074 - 06/05/2007 - APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED REVENUE DESIGNATED FOR LIBRARY IMPROVEMENTS IN T ORDINANCE NO. 074, 2007 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED REVENUE DESIGNATED FOR LIBRARY IMPROVEMENTS IN THE CAPITAL IMPROVEMENT EXPANSION FUND AND PRIOR YEAR RESERVES IN THE GENERAL FUND FOR TRANSFER TO THE CITY'S CAPITAL PROJECTS FUND TO CONSTRUCT A SOUTHEAST BRANCH LIBRARY WHEREAS, on March 20, 2007, the City Council adopted Ordinance No. 037, 2007, appropriating prior year reserves in the Capital Improvement Expansion Fund designated for library capital improvements ($4.5 million) and prior year reserves in the General Fund ($1 million), for construction of a 17,400 square foot southeast branch library at the proposed Front Range Village (the `Branch Library"), and for the purchase of books and materials for that library; and WHEREAS,significant increases in the cost of construction materials and a more complete estimate of material needs has resulted in a revised cost estimate for construction of the Branch Library; and WHEREAS,the revised estimate to construct the Branch Library is$5.6 million,excluding the$1 million previously appropriated for the purchase of books and materials; and WHEREAS, staff recommends using the following sources to fund the additional $1.1 million needed for construction of the branch library: General Fund prior year reserves $ 620,387 Capital Improvement Expansion Fund prior year reserves designated for library capital improvements $ 394,198 Capital Improvement Expansion Fund unanticipated revenue 85,415 total $1,100,000 WHEREAS, the proposed General Fund prior year reserves ($620,387) to be used for this purpose consist of an appropriation from General Fund undesignated prior year reserves, totaling $339,304, and an appropriation from General Fund prior year reserves representing unspent and unencumbered general library donations, totaling$281,083; and WHEREAS,City Code Section 7.5-27(a)requires that library capital improvement expansion fee funds be used only for capital improvements related to the provision of general library services as those improvements maybe identified in the capital improvements plan for library services; and WHEREAS, on May 19, 1998, the City Council adopted Resolution 1998-83 creating the Capital Improvements Plan for the library,which plan recommends that the library strive to provide 4.0 books per city resident and provide 0.7 square foot per capita; and WHEREAS, the construction of the Branch Library and the purchase of books and other library materials needed for the Branch Library are consistent with the Capital Improvements Plan; and WHEREAS, the request for appropriation of fees is consistent with the uses of the fees set forth in Chapter 7.5 of the City Code; and WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins(the"Charter") permits the City Council to appropriate by ordinance at any time during the fiscal year such funds for expenditure as may be available from reserves accumulated in prior years,notwithstanding that such reserves were not previously appropriated; and WHEREAS, Article V, Section 9, of the Charter also 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, does not exceed the current estimate of actual and anticipated revenues to be received during the fiscal year; and WHEREAS, staff has determined that the appropriation of 2007 Library Capital Expansion Fee revenue, as described herein, will not cause the total amount appropriated in the Capital Improvement Expansion Fund to exceed the current estimate of actual and anticipated revenues to be received during the fiscal year; and WHEREAS, pursuant to Section 23-304 of the City Code, one percent of the funds appropriated for the construction of capital projects should be set aside in the Art in Public Places Reserve account in the Cultural Services & Facilities Fund, for use in the acquisition or leasing of works of art,maintenance,repair or display of works of art, and administrative expenses related to the Art in Public Places Guidelines adopted by Council in Ordinance No. 047, 1998; 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 transferred funds are to be expended remains unchanged; and WHEREAS,it is the desire of the City Council to: (a)appropriate the sum of$620,387 from prior years reserves in the General Fund, $394,198 from prior year reserves designated for library capital improvements in the Capital Improvement Expansion Fund,and$85,415 from unanticipated revenue, in the form of 2007 Library Capital Expansion Fees, for transfer to the Capital Projects Fund- Southeast Branch Library project for construction of a branch library at the proposed Front Range Village; and (b)provide funding for the City's Art in Public Places program by authorizing the transfer of$56,000 from the Capital Projects Fund - Southeast Branch Library project, and $10,000 from the General Fund 2007 Library budget, to the Cultural Services &Facilities Fund. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: -2- Section 1. That there is hereby appropriated from prior year reserves in the General Fund, the sum of SIX HUNDRED TWENTY THOUSAND THREE HUNDRED EIGHTY-SEVEN DOLLARS ($620,387),for transfer to the Capital Projects Fund- Southeast Branch Library capital project,and appropriated therein,to be used with previously appropriated funds to construct a 17,400 square foot branch library at the proposed Front Range Village. Section 2. That there is hereby appropriated from prior year reserves designated for library capital improvements in the Capital Improvement Expansion Fund,the sum of THREE HUNDRED NINETY-FOUR THOUSAND ONE HUNDRED NINETY-EIGHT DOLLARS ($394,198), for transfer to the Capital Projects Fund - Southeast Branch Library capital project, and appropriated therein, to be used with previously appropriated funds to construct a 17,400 square foot branch library at the proposed Front Range Village. Section 3. That there is hereby appropriated for expenditure from unanticipated revenue in the Capital Improvement Expansion Fund, the sum of EIGHTY-FIVE THOUSAND FOUR HUNDRED FIFTEEN DOLLARS ($85,415), for transfer to the Capital Projects Fund- Southeast Branch Library capital project, and appropriated therein, to be used with previously appropriated funds, to construct a 17,400 square foot branch library at the proposed Front Range Village. Section 4. That the unexpended appropriated amount of FIFTY-SIX THOUSAND DOLLARS ($56,000) is hereby authorized for transfer from the Capital Projects Fund- Southeast Branch Library capital project to the Art in Public Places Reserve Account in the Cultural Services and Facilities Fund for appropriation therein to be used for purposes consistent with the City's Art in Public Places Program. Section 5. That the unexpended appropriated amount of TEN THOUSAND DOLLARS P ($10,000) is hereby authorized for transfer from the General Fund 2007 Library budget to the Art in Public Places Reserve Account in the Cultural Services and Facilities Fund for appropriation therein to be used for purposes consistent with the City's Art in Public Places Program. Introduced and considered favorably on first reading and ordered published this 15th day of May, A.D. 2007, and to be presented for final passage on the 5th day of June, A.D. 2007. Mayo ATTEST: City Clerk -3- Passed and adopted on final reading this 5th day of ne, A.D. 2007. Mayor ATTEST: City Clerk -4-