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HomeMy WebLinkAbout080 - 06/03/2014 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROJECTS ORDINANCE NO. 080, 2014 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROJECTS IN THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND WHEREAS, the City will receive in federal fiscal year 2014-2015 unanticipated revenue in the form of federal Community Development Block Grant ("CDBG") funds totaling $924,036; and WHEREAS, the City has received unanticipated CDBG Program income in the amount of$797,304; and WHEREAS, the City also has CDBG 2013-2014 Grant funds ($250,000) to be reprogrammed and unprogrammed CDBG 2012-2013 Grant funds ($61,245) that will be transferred to the 2014-2015 CDBG Grant; and WFIEREAS, by adoption of Resolution 2014-041, the City Council approved the 2014 Community Development Block Grant Program and authorized the City Manager to transmit to HUD for approval the 2014 Fort Collins Annual Action Plan as required to receive the grant funds; and WHEREAS, Article V, Section 9, of the City 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 City Charter authorizes the City Council to transfer by ordinance any unexpended and unencumbered appropriated amount or portion thereof from one fund (project) to another fund (project), provided that the purpose for which the transferred funds are to be expended remains unchanged; and WHEREAS, Article V, Section 11, of the City 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, 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 2014. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: - I - Section 1. That there is hereby appropriated for expenditure from unanticipated revenue in the federal fiscal year 2014-2015 into the Community Development Block Grant Fund, the sum of NINE HUNDRED TWENTY-FOUR THOUSAND THIRTY-SIX DOLLARS ($924,036), upon receipt thereof for federal fiscal year 2014-2015 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 SEVEN HUNDRED NINETY-SEVEN THOUSAND THREE HUNDRED FOUR DOLLARS ($797,304), for approved Community Development Block Grant projects. Section 3. That the unexpended and unencumbered amount of TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000) is hereby authorized for transfer from the 2013- 2014 Community Development Block Grant Program to the 2014-2015 Community Development Block Grant Program and appropriated therein. Section 4. That the unexpended and unencumbered amount of SIXTY-ONE THOUSAND TWO HUNDRED FORTY-FIVE DOLLARS ($61,245) is hereby authorized for transfer from the 2012-2013 Community Development Block Grant Program to the 2014-2015 Community Development Block Grant Program and appropriated therein. Introduced, considered favorably on first reading, and ordered published this 20th day of May, A.D. 2014, and to be presented for final passage on the 3rd day of June, A.D. 2014. FORT co :ZN M yor ATTEST: City Clerk 0 01R_ ,Passed and adopted on final reading on the 3rd day of June, A.D. 2014. yor ATTEST: OF.F O/yT -t .CO.0 V; CO City Clerk �ORADO• - 2 -