HomeMy WebLinkAbout23-15 RESOLUTIONRESOLUTION NO. 23-15
A RESOLUTION TO AMEND THE 2015 ADOPTED BUDGET BY
REAPPROPRIATING $86,181,388.00 IN BONDED OR ONGOING CAPITAL
PROJECTS, OUTSTANDING OBLIGATIONS AND GRANT FUNDED
ITEMS
WHEREAS, capital projects often are constructed and paid for in more than one
calendar year which requires the funds appropriated in the initial year for the project to be
reappropriated to the subsequent year to complete the project; and
WHEREAS, certain outstanding obligations and grant funded items must be
reappropriated to complete these obligations or grant funded projects.
NOW, THEREFORE, 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
an amendment to the 2015 Budget to reflect $86,181,388.00 in bonded or ongoing capital
projects, outstanding obligations and grant funded items as shown on the worksheet attached to
this Resolution.
PASSED and APPROVED this 20th day of January, 2015.
19
ATTEST:
By:
SONDRA E. SMITH, City Clerk/Treasurer
,0j1tto1►lh4/e
.vim •° G\TY ��•°mG'rr.
�; FAYEl TEVILLE •��
113 West Mountain Street
City of Fayetteville, Arkansas
_ — Fayetteville, AR 72701
479-575-8323
-> Text File
File Number: 2015-0010
Agenda Date: 1/20/2015 Version: 1 Status: Passed
In Control: City Council File Type: Resolution
Agenda Number: A. 19
AMEND THE 2015 ADOPTED BUDGET:
A RESOLUTION TO AMEND THE 2015 ADOPTED BUDGET BY REAPPROPRIATING
$86,181,388.00 IN BONDED OR ONGOING CAPITAL PROJECTS, OUTSTANDING
OBLIGATIONS AND GRANT FUNDED ITEMS
WHEREAS, capital projects often are constructed and paid for in more than one calendar year which
requires the funds appropriated in the initial year for the project to be reappropriated to the subsequent
year to complete the project; and
WHEREAS, certain outstanding obligations and grant funded items must be reappropriated to complete
these obligations or grant funded projects.
NOW, THEREFORE, 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 an amendment
to the 2015 Budget to reflect $86,181,388.00 in bonded or ongoing capital projects, outstanding
obligations and grant funded items as shown on the worksheet attached to this Resolution.
City of Fayetteville, Arkansas Page 1 Printed on 112112015
Kevin Springer
Submitted By
City of Fayetteville Staff Review Form
2015-0010
Legistar File ID
1/20/2015
City Council Meeting Date - Agenda Item Only
N/A for Non -Agenda Item
1/2/2015 Budget & Information Management/
_ Finance & Internal Services Department
Submitted Date Division / Department
Action Recommendation:
A RESOLUTION TO AMEND THE 2015 ADOPTED BUDGET BY REAPPROPRIATING $86,181,388 IN BONDED OR ON-
GOING CAPITAL PROJECTS AND OUTSTANDING OBLIGATIONS AND GRANT FUNDED ITEMS.
Comments:
Budget Impact:
VARIOUS
VARIOUS
Account Number
Fund
VARIOUS
VARIOUS
Project Number
Project Title
Budgeted Item? Yes
Current Budget
$ 145,205,000.00
Funds Obligated
$ -
Current Balance
$ 145,205,000.00
Does item have a cost? No
Item Cost
$ -
Budget Adjustment Attached? NA
Budget Adjustment
$ 86,181,388.00
Remaining Budget
[$ 281,:8 ,388.00
V20140710
Previous Ordinance or Resolution #
Date: DH�
Original Contract Number:
Approval I—
Comments:
CITY OF
T**ftI
a �
ARKANSAS
MEETING OF JANUARY 20, 2015
TO: Mayor and City Council
CITY COUNCIL AGENDA MEMO
THRU: Don Marr, Chief of Staff
Paul A. Becker, Chief Financial Officer
FROM: Kevin Springer, Budget Director
DATE: January 2, 2014
SUBJECT: 2015 Budget Re -appropriation Request
RECOMMENDATION:
It is recommended to amend the 2015 Adopted Budget by reappropriating $86,181,388 in
bonded or ongoing capital projects and outstanding obligations and grant funded items. In
addition, staff is recommending approval of any changes to this request that may arise due to
finalizing the 2014 year end which would result in a decrease in the total authorized budget.
BACKGROUND:
Budget appropriations for 2014 expired December 31, 2014. Equipment and supplies or
services must have been received by December 31 in order to be charged to the 2014 Budget.
Some departments have items or services that were budgeted in 2014 but were not delivered or
complete by year-end. In these cases, unspent amounts for those projects and items need to be
re appropriated, since they were not included in the 2015 Budget. In the case of capital
improvement projects, unspent funds are added to any amounts appropriated in the 2015
Budget.
Because of the need for project continuation, staff recommends approval of the attached
Re -appropriation budget request at the January 20, 2015 City Council meeting. City Council is
requested to amend the 2015 Adopted Budget by re -authorizing up to $86,181,388 for purchase
commitments and capital improvements as follows:
Bonded Capital Projects
Grant/Donations/Reimbursements
Outstanding Operational Obligations
Capital Improvements Projects (CIP)
Obligated Non -Obligated Total
13,755,483 $ 26,255,864 $ 40,011,347
54,287. 2,509,376 2,563,663
252,355 4,997 257,352
8,726,967 34,622,059 43,349,026
$ 22,789,092 $ 63,392,296 $ 86,181,388
Mailing Address:
113 W. Mountain Street www.fayetteville-ar.gov
Fayetteville, AR 72701