HomeMy WebLinkAbout81-96 RESOLUTIONRESOLUTION NO. 81-96
A RESOLUTION APPROVING A BUDGET ADJUSTMENT TO
ESTABLISH FUNDING FOR SETTLEMENT OF THE
INCINERATOR LAWSUITS PENDING IN STATE AND
FEDERAL COURTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. That the City Council hereby approves a budget adjustment in the amount
of $700,000 increasing Incinerator Settlement, Acct. No. 1010 6600 5314.79 in the amount of
$500,000 and Legal Services, Acct. No. 1010 6600 5314 01 in the amount of $200,000, by
decreasing Use of Fund Balance, Acct. No. 1010 0001 4999 99. A copy of the budget
adjustment is attached hereto marked Exhibit "A" and made a part hereof.
PASSED AND APPROVED this 2n day of July , 1996.
ATTEST:
By: //IQ�.C�
Traci Paul, City Clerk
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APPROVED:
By:
red Hanna, Mayor
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City of Fayereville4trkansas EX HIB 1 T A
Budget Adjustment Form
Budget Year
1996
Department: General Government
Division: Miscellaneous
Program:
Date Requested
06/25/96
Adjusunent #
Project or Item Requested:
Approval of a budget transfer to establish funding for the settlement of
the incinerator lawsuits and pay the legal fees associated with the
settlement.
Project or Item Deleted:
Use of fund balance is proposed for this request.
Justification of this Increase:
The funds are requested to comply with the terms of the settlement
agreement offered by City Council and accepted by FGIC et al.
•
Justification of this Decrease:
Sufficient fund balance exists to fund this request and comply with City policy.
•
Increase
Account Name Amount Account Number Project Number
Incinerator Settlement
Legal Services
500,000 1010 6600 5314 79
200,000 1010 6600 5314 01
Decrease
Account Name Amount Account Number Project Number
Use of Fund Balance
700,000 1010 0001 4999 99
Approval Signatures
Requested
BuI
dget rdinator
Dep ent Director
Admi ervice
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Type: A
Budget Office Use Only
Date of Approval
Posted to General Ledger
Entered in Category Log
Budget Office Copy