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HomeMy WebLinkAbout172-04 RESOLUTION• • RESOLUTION NO. 17 2 - Q 4 A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE AMOUNT OF $195,100.00 TO VARIOUS VEHICLE AND MACHINE MAINTENANCE FUELING ACCOUNTS, DUE TO UNANTICIPATED FUEL COST INCREASES BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment in the amount of $195,100.00 to various Vehicle and Machine Maintenance Fueling accounts, due to unanticipated fuel cost increases. PASSED and APPROVED this 1 s` day of November 2004. APPROVED: By: ATTEST: By: Giu1tt.,u SONDRA SMITH, City Clerk DAN COODY, Mayor .."'Ryc%R/f ........... $AG••G61Y O;c •cl-p • ;FAYETTEVILLE• Wy 2.KANStsae •City of Fayetteville, Arkansas Budget Adjustment Form Budget Year 2004 Department: Various Division: Program: Date Requested 9/21/2004 Adjustment Number Project or Item Requested: $195,100 in various Vehicle & Machine Maintenance Fueling accounts. Project or Item Deleted: None. To recognized revenue in various accounts. Justification of this Increase: The funding is needed to cover the increase in fueling costs for 2004. Justification of this Decrease: Due to increased revenue earnings, there is sufficient funding available to comply with City policy and 2004 objectives. Increase Budget (Decrease Revenue) Account Name Account Number Amount Project Number See Attached Decrease Budget (Increase Revenue) Account Name Account Number Amount Project Number See Attached Approval Signatures Requested By Date Budget Manager Date Departme t Director inance & Internaa ervices D ctor Air Date 110 -17 -047C - Date l Mayor Date Budget Office Use Only Type: A B C Date of Approval Posted to General Ledger Posted to Project Accounting Entered in Category Log E Initial Date Initial Date Initial Date Initial Date • • Account Name Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Vehicle & machine maint Account Name Interest -investments Interest -investments HMR tax revenue Interest -revenue Solid Waste fees Interest on investments Increase Budget (Decrease Revenue) Account Number 1010 1410 5403 00 1010 1710 5403 00 1010 2710 5403 00 1010 2940 5403 00 1010 3010 5403 00 1010 3020 5403 00 1010 5220 5403 00 1010 5260 5403 00 1010 6220 5403 00 1010 6240 5403 00 1010 6300 5403 00 1010 6400 5403 00 1010 6420 5403 00 2100 4100 5403 00 2100 4110 5403 00 2100 4120 5403 00 2100 5315 5403 00 2100 5530 5403 00 2250 9250 5403 00 5400 1820 5403 00 5400 4000 5403 00 5400 4310 5403 00 5400 4410 5403 00 5500 5000 5403 00 5500 5010 5403 00 5500 5020 5403 00 5500 5030 5403 00 5500 5060 5403 00 5500 5070 5403 00 5550 3950 5403 00 Decrease Budget (Increase Revenue) Account Number 1010 2100 2250 5400 5500 5550 0001 4708 00 0910 4708 00 0925 4101 00 0940 6708 07 0950 4430 00 0955 6708 00 Amount 2,800 400 1,800 36,000 2,900 23,700 400 2,200 1,300 1,900 400 1,400 200 500 4,300 6,600 4,100 7,700 1,200 4,600 2,300 6,700 6,800 1,900 27;900 34,300 4,500 2,800 1,000 2,500 Amount 75,400 23,200 1,200 20,400 72,400 2,500 Project Number • Project Number NAME OF FILE: CROSS REFERENCE: Item # Date • Resolution No. 172-04 w/budget adjustment Document • 1 10/07/04 memo to mayor & City Council 2 draft resolution 3 Staff Review Form 4 memo to Kevin Springer 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 '�ttevile• DEPARTMENTAL CORRESPONDENCE • ©RO /CA jfta, rye TO: THRU: FROM: DATE: SUBJECT: Mayor Dan Coody and Fayetteville City Council Hugh Eamest, Chief Administrative Officer Stephen Davis, Finance & Internal Services Director Kevin Springer, Budget Manager7/k--- October 7, 2004 Budget Adjustment Request — Vehicle & Equipment Fuel Recommendation: Staff recommends that City Council approve a budget adjustment for $195,100 for Vehicle and Machine Fuel & Maintenance costs for 2004. Background: For 2004, $564,942 was budgeted Citywide for Vehicle & Machine Fuel and Maintenance costs. Currently the average fuel cost for 2004 is 24% higher than the average fuel cost in 2003. In addition, there is estimated to be a 4% increase in fuel usage in 2004 over 2003. Due to rising fuel costs throughout the year, it is estimated that the total cost will be $745,604 by the end of 2004. This increase in fueling costs will require a budget adjustment in the amount of $195,100. The table below shows the amount of additional budget needed by each City Department. City Department: Solid Waste & Recycling Police Department Transportation Fire Department Water & Sewer/Meter Other Parks & Recreation Budgeted 2004 Estimated 2004 Budget Adjustment 112,890 97,518 90,382 73,400 95,805 63,823 31,124 185,290 132,658 108,182 100,000 113,180 71,370 34,924 (72,400) (36,000) (23,200) (26,600) (20,400) (12,700) (3,800) 564,942 745,604 (195,100) • • Discussion: City staff is recommending that the budget adjustment be approved in the amount of $195,100. The funding is required to maintain the current level of operations and the increase in fueling costs are out of the City's control. Budget Impact: There is no net budget impact to reserves because the funding will come from increased revenue received in 2004. The funding for the $195,100 budget adjustment will come from receiving increased Investment Earnings, increased HMR Tax Revenue, and increased Solid Waste Fees. The additional funding by funding source is shown in the table below: Funding Source: Budgeted 2004 Estimated 2004 Budget Adjustment Additional Funding General Fund Street Fund C.D.B.G. Fund Parks Development Fund Water & Sewer Fund Solid Waste Fund Airport Fund Shop Fund • Conclusion: 222,661 90,382 300 7,000 95,805 112,890 13,300 22,604 564,942 292,712 108,182 8,200 113,180 185,290 15,490 22,550 745,604 (75,400) Investment Earnings (23,200) Investment Earnings (1,200) HMR Tax Revenue (20,400) Investment Earnings (72,400) Solid Waste Fees (2,500) Investment Earnings (195,100) If approved, the $195,100 will be added to the City's various Vehicle & Machine Maintenance & Fueling accounts. The funds are needed to maintain critical operations in 2004. If you have any questions concerning this agenda request please contact either myself at 575-8226 or Stephen Davis at 575-8330. • • RESOLUTION NO. A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE AMOUNT OF $195,100.00 TO VARIOUS VEHICLE AND MACHINE MAINTENANCE FUELING ACCOUNTS, DUE TO UNANTICIPATED FUEL COST INCREASES BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment in the amount of $195,100.00,terVa4us Vehicle and Machine Maintenance Fueling accounts, due to una `'cpated -fuel cost increases. PASSED and APPROVED this 2nd day of November* 4. Alq A SONDRA SMITH, City Clerk {CsaODY, Mayor STAFF O/IEW FORM - FINANCIAL OBLIGATI X AGENDA REQUEST CONTRACT REVIEW GRANT REVIEW For the Fayetteville City Council Meeting of: November2,2004 FROM: Kevin Springer Name Budget & Research Finance & Internal Services Division Department ACTION REQUIRED: Staff recommends that City Council approve a budget adjustment in the amount of $195,100 to various Vehicle & Machine Maintenance Fueling accounts. The increased funding is needed due to increased fuel costs. COST TO CITY: $195,100.00 $ 564,942.00 Vehicle & Machine Maintence Cost of this request Category/Project Budget Program Category / Project Name XXXX.XXXX.5403.00 $ 471,639.00 Various Account Number Project Number Funds Used to Date Program / Project Category Name $ 93,303.00 Various Remaining Balance Fund Name BUDGET REVIEW: X Budgeted Item X Budget Adjustment Attached ?/ /0-1 /f` Budget Manager Date Accounting Manager City Attojney Date Internal Auditor %/9 Date Purchasing Manager Date Date STAFF RECOMMENDATION: Staff recommends approving the budget adjustment for fuel costs. Division Head Department Director Finance & Internal Services Dir. Date Date /c (f-4 Date nistr. ive Officer Received in Mayor's Office Cross Reference: Previous Ord/Res#: Orig. Contract Date: Orig. Contract Number: New Item: Yes No FAYETTEt LLE THE CITY OF FAYETTEVILLE, ARKANSAS City Clerk Division DEPARTMENTAL CORRESPONDENCE • 113 West Mountain Fayetteville, AR 72701 Telephone: (479) 575-8323 Fax: (479) 718-7695 city_clerk@cilayetteville.ar.us To: Kevin Springer Budget Manager From: Clarice Buffalohead-Pearman City Clerk Division Date: November 8; 2004 Re: Resolution No. 172-04 The City Council passed the above resolution November 1, 2004, approving a budget adjustment for fuel. I have attached a copy of the resolution and budget adjustment. This resolution will be recorded in the city clerk's office and microfilmed. If anything else is needed please let the clerk's office know. Thanks. /cbp attachments cc: Nancy Smith, Internal Auditor Barbara Fell, Budget & Research