HomeMy WebLinkAbout208-12 RESOLUTIONRESOLUTION NO. 208-12
A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE
AMOUNT OF $27,000.00 TO RECOGNIZE REVENUE AND ASSOCIATED
EXPENSE ASSOCIATED WITH FUEL SALES AT DRAKE FIELD
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, a copy of which is attached as Exhibit "A", in the amount of $27,000.00
recognize revenue and associated expense associated with fuel sales at Drake Field.
PASSED and APPROVED this 8th day of November, 2012.
APPROVED: ATTEST:
LI $ NELD ' 1 , Mayor
By: 404„,d4. (A Aniak
SONDRA E. SMITH, City Clerk/Treasurer
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'�: FAYETTEVILLE: a
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City of Fayetteville, Arkansas
Budget Adjustment Form
V12.0724
Budget Year
2012
Division: Aviation
Department: Transportation Services
Request Date
11/8/2012
Adjustment Number
BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION
To recognize revenue from the sale of aviation fuel from the airport's self -serve station in order to increase the
expense line item budgets for fuel purchases and credit card fees. A current shortage and anticipated shortages in
these accounts at year end is due to the increase in fuel costs and increase in the volume of fuel sales over and
above what was predicted during the 2012 budget process.
Division -a•
u
et Director
Depart
ent Director
Finan I) irector
`d 2
Date
Date
/010
Date
LL,,, t 0- zZ-2o it,
Account Name
repared By:
Reference:
jnicholson
Budget & Research Use Only
Type: A BCD E P
General Ledger Date
Date
L6 -d3 -1a, Posted to General Ledger
Date
4 " / 1 Checked / Verified
Initial Date
Initial Date
TOTAL BUDGET ADJUSTMENT 28,400 28,400
Account Number
Increase / (Decrease)
Project.Sub
Expense Revenue Number
87MoGas Revenue
5550.0955.4456.04 i
5,500
AVGAS rvenues
5550.0955.4456.01 R 22,900
Gasoline
5550.3940.5213.00 6,500
AVGAS 5550.3940.5213.03 20,000
Credit Card Service Charg 5550.3940.5320.02 s} 1,900
J:\James\2012\BUDGE RBudget Adjustments\BAForm_2012_BLANK
1 of 1
Ray M. Boudreaux
Submitted By
City of Fayetteville Staff Review Form
City Council Agenda Items
and
Contracts, Leases or Agreements
11/8/2012
City Council Meeting Date
Agenda Items Only
Aviation
Division
Action Required:
Transportation
Department
Action Required: A resolution to increase revenue and expense budget line items associated with fuel sales from the
Airport's self -serve fueling station.
Cost of this request
VARIOUS
Account Number
Project Number
Budgeted Item
99,472.00
Category / Project Budget
Mat/Supp
Program Category / Project Name
77,952.00 Airport Rev/Airport Admin
Funds Used to Date Program / Project Category Name
21,520.00
Airport
Remaining Balance Fund Name
Budget Adjustment Attached
X
Q-V1epar"--e
nt Director
ttorney
Fin nce and Internal Services Director
Mayor
Date
Date
10 -12-2,O11..
Date
• Date
/voto .
Date
Previous Ordinance or Resolution #
Original Contract Date:
Original Contract Number:
Received in Cy9-1 ? -1 2 r u 3. 0 2 R C V D
Clerk's Office
Comments:
Revised January 15, 2009
THE CITY OF FAYETTEVILLE, ARKANSAS
AVIATION DIVISION
4500 S School Ave, Ste F
Fayetteville, AR 72701
P (479)718-7642
ARKANSAS
www.accessfayettev i I Ie.or
CITY COUNCIL AGENDA MEMO - November 8, 2012 meeting
To: Mayor Lioneld Jordan
Thru: Don Marr, Chief of Staff
Thru: Terry Gulley, Transportation Directo?7 "
Thru: Staff/Contract Review Committee
From: Ray M. Boudreaux, Aviati
Date: 10/17/12
Subject: Budget Adjustment — recognize revenue from fuel sales
PROPOSAL: Approve a budget adjustment to increase revenue and expense line items associated with fuel
sales from the Airport's self -serve station. City Council approval is required to increase the Aviation Division
budget.
RECOMMENDATION: Airport Administration requests approval of the budget adjustment. Fuel sales at the
self -serve have outpaced the volume predicted during the budget process in mid -2011 resulting in increased
expense for the purchase of the fuel inventory, and increased revenue from the sales. This budget adjustment
recognizes the additional revenue received in order to offset the additional expense of the fuel inventory
fr
purchases.
BUDGET IMPACT: None. This budget adjustment is cost -neutral.
Telecommunications Device for the Deaf TDD (479) 521-1316 113 West Mountain - Fayetteville, AR 72701
RESOLUTION NO.
A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE
AMOUNT OF $27,000.00 TO RECOGNIZE REVENUE AND ASSOCIATED
EXPENSE ASSOCIATED WITH FUEL SALES AT DRAKE FIELD
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, a copy of which is attached as Exhibit "A", in the amount of $27,000.00
recognize revenue and associated expense associated with fuel sales at Drake Field.
PASSED and APPROVED this 8th day of November, 2012.
APPROVED: ATTEST:
By: By:
LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer