HomeMy WebLinkAbout278-22 RESOLUTION113 West Mountain Street
Fayetteville, AR 72701
(479)575-8323
Resolution: 278-22
File Number: 2022-1054
INCREASED UTILITY COSTS:
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF
$180,000.00 FOR INCREASED UTILITY COSTS
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 the attached
budget adjustment in the amount of $180,000.00 for the increased cost of utilities.
PASSED and APPROVED on 12/6/2022
Attest:
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Page 1 Printed on 1217122
City of Fayetteville, Arkansas 113 West Mountain Street
Fayetteville, AR 72701
(479)575-8323
Text File
File Number: 2022-1054
Agenda Date: 12/6/2022 Version: 1 Status: Passed
In Control: City Council Meetinq
Agenda Number: A.9
INCREASED UTILITY COSTS:
File Type: Resolution
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $180,000.00 FOR
INCREASED UTILITY COSTS
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 the attached budget
adjustment in the amount of $180,000.00 for the increased cost of utilities.
City of Fayetteville, Arkansas Page 1 Printed on 121712022
Terry Gulley
Submitted By
City of Fayetteville Staff Review Form
2022-1054
Legistar File ID
12/6/2022
City Council Meeting Date - Agenda Item Only
N/A for Non -Agenda Item
11/15/2022 TRANSPORTATION SERVICES (410)
Submitted Date Division / Department
Action Recommendation:
Approval of a budget adjustment in the amount of $180,000 for increased cost of utilities.
2100.410.4100-5310.xx
Account Number
Project Number
Budgeted Item? Yes
Does item have a cost? No
Budget Adjustment Attached? Yes
Purchase Order Number:
Change Order Number:
Original Contract Number:
Comments:
Budget Impact:
Current Budget
Funds Obligated
Current Balance
Item Cost
Budget Adjustment
Remaining Budget
Street
Fund
Project Title
$ 941,737.00
$ 722,199.77
$ 219,537.23
$ 180,000.00
399,537.23
V20210527
Previous Ordinance or Resolution #
Approval Date:
CITY OF
FAYETTEVILLE
ARKANSAS
MEETING OF DECEMBER 6, 2022
TO: Mayor and City Council
THRU: Susan Norton, Chief of Staff
Chris Brown, Public Works Director
FROM: Terry Gulley, Asst. PW Director Operations
DATE: November 15, 2022
CITY COUNCIL MEMO
SUBJECT: Approval of a budget adjustment in the amount of $180,000 for increased
cost of utilities.
RECOMMENDATION:
Approval of a budget adjustment in the amount of $180,000 for increased cost of utilities.
BACKGROUND:
The annual operating budget includes funds for utilities. These funds are projected to increase
each year due to inflation, addition of new accounts, and other factors.
DISCUSSION:
The U.S. residential price of electricity is up 8% from 2021. The U.S. Energy Information
Administration (EIA) expects the cost to continue rising this year and next. Higher retail
electricity prices largely reflect an increase in wholesale power prices which are driven by higher
natural gas prices.
BUDGET/STAFF IMPACT:
Approval of a budget adjustment from Use of Fund Balance (Street Fund Reserves) will
increase funding for increased utilities costs.
Attachments:
Budget Adjustment
Mailing Address:
113 W. Mountain Street www.fayetteville-ar.gov
Fayetteville, AR 72701
City of Fayetteville, Arkansas - Budget Adjustment Form (Legistar)
Budget Year Division Adjustment Number
/Org2 TRANSPORTATION SERVICES (410)
2022
Requestor: John Nelson
BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION:
Approval of a budget adjustment in the amount of $180,000 for increased cost of utilities.
COUNCIL DATE: 12/6/2022
LEGISTAR FILE ID#: 2022-1054
Kevi YvSprbnger
1111612022 10:25 AM
Budget Director Date
TYPE: D - (City Council)
JOURNAL #:
GLDATE:
RESOLUTION/ORDINANCE CHKD/POSTED:
TOTAL 180,000 180,000 v.20221019
Increase / (Decrease) Proiect.Sub#
Account Number Expense Revenue Project Sub.Detl AT Account Name
2100.410.4100-5310.60 180,000 - EX Utilities - Ozarks Electric
2100.410.4100-4999.99 - 180,000 RE Use Fund Balance - Current
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