HomeMy WebLinkAbout52-94 RESOLUTIONRESOLUTION NO. 52-94
A RESOLUTION APPROVING A BUDGET ADJUSTMENT TO
RECOGNIZE A GRANT FROM THE ARKANSAS
DEPARTMENT OF PARKS AND TOURISM, AND FOR
MATCHING FUNDS FROM THE CITY OF FAYETTEVILLE
FOR THE DEVELOPMENT OF LAKE FAYETTEVILLE
SOUTH.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. That the Council hereby approves a budget adjustment in the amount of
$50,000 mcreastng Park Improvements, Acct. No. 4470 9470 5806 00, Project No. 94073, to
recognize a $25,000 grant, decreasing State Grants, Acct. No. 4470 0947 4302 00, from the
Arkansas Department of Parks and Tourism and for a $25,000 matching funds from the Use
Fund Balance, Acct. No. 4470 0947 4999 99, for devlopment of Lake Fayetteville South. A
copy of the budget adjustment is attachtxl hereto marked Exhibit "A" and made a part hereof.
PASSED AND APPROVED this 3rd day of May , 1994.
ATTEST:
By: f..il/
Sherry i.. Thomas. City Clerk
APPROVED:
By:
red Hanna, Mayor
city of Fayetteville, Arkansas
Budget Adjustment Form
Budget Year
1994
Department: Sales Tax Construction
Division:
Program:
Date Requested
May 3, 1994
Adjustment #
Project or Item Requested:
A budget adjustment is requested to recognize a grant received
from the Arkansas Department of Parks & Tourism and the related
expenditures for the park improvements at Lake Fayetteville South.
The majority of the work related to this grant award will be
performed by City Parks staff and is scheduled for
September/October 1994.
Project or Item Deleted:
A project grant match of S50,000 is planned for 1995 in the 1993— :998
CIP. This budget adjustment proposes :o move $25,000 of the project
budget forward to 1994 and reduce the 1995 grant match budget to
$25.000. Sales Tax Construction Fund has adequate resources to fund
this adjustment
Justification:
The City has been awarded an Outdoor Recreation Grant from
the Arkansas Department of Tourism and Parks for
improvements at Lake Fayetteville South e im r I/
planned include esissidoslo pavilion !`
The budget adjustment recognues the additional revenue and
City's matching expenditure.
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Justification:
Additional revenue from an Outdoor Recreation Grant. Receipt of
the grant award was unexpected in the current year, therefore, the a
Laisportion of the grant match funds will need to be set aside in 1994. The
my* gran t match funding for 1995 will be reduced to reflect the
e4 acceleration of this project.
Account Name Amount
Increase
Park Improvements 50,030
Account Name Amount
State Grants
Use of Fund Balance
Account Number Project Number
4.470 9470
5806 00 94073
Decrease
25,000
25,000
Account Number Project Number
4470 0947 4302 00
4470 0947 4999 99
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Approval Signatures
Bget ror
144€4,..
rtment Director
Admin. Services Director
Mayor
April 4,1994
IcAvelet
Budget Office Use Only
Type: A BCD EF
Date of Approval
Posted to General Ledger
Entered in Category Log
Budget Office Copy