Title
Second Reading and Action on Ordinance 17-020, an Ordinance authorizing Supplemental Appropriation #2 to the 2017 Budget.
Body
Summary:
This ordinance will amend the 2017 Budget.
Background:
General Fund amendments include recognizing the authorized purchase of the Street Asphalt Zipper which is being funded through an interfund loan between the Liquor Store and Street Department; utilizing $78,816 of the contingency budget to cover the unexpected expenditures to replace a pickup for Engineering, repair condenser, HVAC and purchase Glycol for Larson Ice Arena, and to cover an increase and redistribution in liability insurance. The other increases in expenditures are offset with increases in revenue.
25% Sales & Use Tax amendments include an increase for K-9 equipment, and moving funds budgeted for the construction of the new Fire Station to a Capital Project Fund.
75% Sales & Use Tax amendments include accounting for donations and corresponding expenditures for the Carnegie Building and PACII projects, purchasing the land adjacent to the City County building, spending a portion of restricted STP funds budgeted for 2018 in 2017 for design, and moving funds budgeted for So. Main and 26th St. Project to a Capital Project Fund.
Airport amendment will transfer cash to repay 75% Sales & Use Tax Fund for funds used until receipt of Federal Airport Project Grants.
Fiscal Impact:
General Fund net impact (less interfund loan) -0-
25% Sales & Use Tax net impact $ 453,469 increase in exp to transfer cash to CIP fund
75% Sales & Use Tax net impact $ 496,040 increase in exp to transfer cash to CIP fund
3rd Penny Sales Tax net impact $ 141,850 increase in exp
Pillow Tax net impact $ 1,000 increase in exp
Fire Sub Station Cap Proj Fund net impact $ -0-
S Main & 26 Cap Proj Fund net impact $1,264,000 increase in rev
Airport net impact $ 815,960 increase in exp
Recommendation
Recommendation:
Staff recommends approval.
Body2
Attachments:
Ordinance