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HomeMy WebLinkAbout109 - 09/18/1979 - APPROPRIATING RESERVE FUNDS AND UNANTICIPATED REVENUES IN THE PARK ACQUISITON FUND OF THE CITY FOR P _ 1 ORDINANCE NO 109 ,1979 BEING AN ORDINANCE OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING RESERVE FUNDS AND UNANTICIPATED REVENUES IN THE PARK ACQUISITION FUND OF THE CITY FOR PAYMENT OF DESIGNATED EXPENSES OF SAID FUND WHEREAS, an annual budget for the City' s Park Acquisition Fund for 1979 was heretofore approved by the Council and an Annual Appropriation Ordinance for 1979 was adopted providing for expenditures from said fund for particular purposes specified in the budget, and WHEREAS, in the opinion of the Council , additional expenditures from the Park Acquisition Fund in excess of those appropriated in the 1979 Annual Appropriation Ordinance will be necessary to pay the costs of certain expenses properly payable out of the Park Acquisition Fund, and WHEREAS, reserves accumulated in prior years exist in the Park Acqui- sition Fund, revenues not anticipated in the budget were received, whicn revenues were designated by the source providing the same for expenditure for a particular purpose and further actual revenue realized in said fund exceeds the budget estimate for the fund, (ind WHEREAS, Article V, Section 8 of the Charter of the City of Fort Collins provides that the Council by ordinance may authorize payment of expenses from reserves accumulated in prior years notwithstanding that Such reserves were not appropriated for expenditure in the Annual Appropriation Ordinance, and WHEREAS, the Charter provides in Article V, Section 15, that if revenues not anticipated in the budget are received which are designated by the source providing the same for expenditure for a particular purpose, the Council may at any time during the year in which said revenues were re- ceived authorize by ordinance expenditure of such revenues or any part thereof notwithstanding the fact that such revenues were not appropriated for expenditure in the annual appropriation ordinance, and WHEREAS, Article V, Section 15 of the Charter further provides that if, at the expiration of eight months of the budget year or there- after within the budget year, the actual revenue ieali7ed exceeds the budget estimates, the Council may by ordinance appropriate the excess to any purpose recommended by the City Manager for expenditure during the budget year NOW, THEREFORE, BE IT ORDAINED BY THE COUNCII OF THE CITY OF FORT COLLINS that the total sum of $200,407 OO be, and the same hereby is, appropriated from the Park Acquisition Funo for expenditure as follows 1 From accumulated reserves of the Park Acquisition Fund, the sum of $107,815 00 for expenditure on park projects 2 From revenue not anticipated in the budget , the sum of $27 , 460 00 for expenditure for park projects 3 From revenue in excess of the budget estimate the sum of $65,132 00 for expenditure on park projects Introduced, considered favorably on first reading, and oideied published thisl8th day of September, 1979, and to be presented for final passage on the 2nd day of October, 1979 Mayor T City Clerk Passed and adopted on final reading this 2nd day_. of October, 1979 r ATTEST J Ci y Clerk- -2-