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HomeMy WebLinkAbout12/04/2018 12 2018 Budget Amendment; Unappropriated FundsBUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT 1 Item No. 12. For Meeting of: December 4, 2018 ITEM TITLE: Ordinance amending the 2018 budget and making appropriations from unappropriated balances for expenditure during 2018 (First Reading) SUBMITTED BY: Ana Cortez, Assistant City Manager Steve Groom, Budget and Finance Director SUMMARY EXPLANATION: Staff recommends the following budget transfers to amend the 2018 Budget to true up funds: 1. Increase expenditures due to additional revenue within the same fund and/or interfund transfer: a. Authorize $25,000 in Cemetery Fund (141) due to increased revenues in Cemetery Fund b. Authorize $5,000 in Capitol Theatre (171) expenditures due to Additional PFD revenue in Capitol Theatre c. Authorize $40,000 additional expenditures in Water Fund (474) revenue due to increased revenues in Water Fund d. Authorize $326,000 additional expenditures in Stormwater Fund (442) due to increased revenue and transfer to Streets (141) e. Authorize $89,000 additional expenditures in Airport fund (421) from $61,000 due to increased revenues in Airport and $28,000 drawn from Airport fund balance f. Authorize $74,000 additional expenditures in Capital Improvement Reserve (392) due to $31,000 in additional GIS revenue and $43,000 transfer in from General Fund 2. Transfers from General Fund to replenish Fund Balances (0.4% of total general fund) a. $110,000 to Law & Justice (333) b. $144,000 to Streets (141) 3. Transfers between Funds to record project costs into the correct funds, a technical accounting correction a. $38,000 from Streets (141) to Airport (421) b. $850,000 from Wastewater (476) to Yakima RDA (323) ITEM BUDGETED: No STRATEGIC PRIORITY: Public Trust and Accountability APPROVED FOR SUBMITTAL: STAFF RECOMMENDATION: First reading only -- no action necessary. BOARD/COMMITTEE RECOMMENDATION: ATTACHMENTS: Description 0 ad amending the 2018 budget 0 Interfund Transfers Upload Date 11/2812018 11/27/2018 Type Cover Memo Co\,er Memo 2 AN ORDINANCE ORDINANCE NO. 2018 - amending the 2018 budget for the City of Yakima; and making appropriations from Unappropriated Fund Balances within various funds for expenditure during 2018 for various purposes described in the attached Schedule. WHEREAS, the various funds indicated on the attached Schedule I contain Unappropriated Fund Balances available for appropriation and expenditures during 2018 in various amounts and for the purposes mentioned in the attached Schedule, and WHEREAS, at the time of the adoption of the 2018 budget it could not reasonably have been foreseen that the appropriation provided for by this ordinance would be required and that it is in the best interests of the City to make the appropriation herein provided, now, therefore, BE IT ORDAINED BY THE CITY OF YAKIMA: Section 1. Appropriations are hereby made, for expenditure during 2018, from Unappropriated Fund Balances in the various Funds to the various accounts and in the various amounts, and for the various specific purposes, all as specified in the Schedule attached hereto and incorporated herein. Section 2. This ordinance is one making an appropriation and shall take effect immediately upon its passage, approval and publication as provided by law and by the City Charter. PASSED BY THE CITY COUNCIL, signed and approved this th day of December, 2018 ATTEST: ACTING CITY CLERK First Reading: Publication Date: Effective Date: December 4, 2018 December 11, 2018 December 11, 2018 MAYOR 3 City of Yakima 2018 Budget Amendment - Interfund Tranfers December 2018 From Fund To Fund Name IName Expenditure Revenue Dr (Cr) Dr (Cr) 4 Description Increase expenditures due to additional revenue within the same fund: 144 Cemetery 171 Capitol Theatre 474 Water operating 144 Cemetery 171 Capitol Theatre 474 Water operating 442 Stormwater Operating 442 Stormwater Operating 141 Streets 25,000 Increased storm and other operating costs (25,000) Increased revenue from burial services 25,000 (25,000) 5,000 Additional Small Tools & Equipment (5,000) Additional PFD Revenue (5,000) 40,000 (40,000) Increase Water Revenue 40,0 0 {40,000) 326,000 (26,000) Additional utility tax revenue (300,000) Transfer to Streets 2- (326,000) 392 Capital Improvement Reserve 392 Capital Improvement Reserve 392 Cap Impr Reserve 74,000 Laser fiche system (31,000) Additional GIS Revenue (43,000) Transfer in From General Fund to replenish fund balance 74,0 0 (74,000)'; 421 Airport (61,000) Additional Revenue from sale of Land (28,000) From fund balance 421 Airport 38,000 De -Icer System 421 Airport 6,000 Heater 421 Airport 15,000 Improvements to security system 421 Airport 30,000 Improvements to sewer system 89,000 Transfer from General Fund to replenish Fund Balances 001 General Fund 001 General Fund 001 General Fund 392 Cap Impr Reserve 333 Law & Justice 141 Streets 43,000 To replenish Capital Reserve fund balance (43,000) Transfer in From General Fund to replenish fund balance 110,000 To replenish Law & Justice fund balance (110,000) Transfer in from GF to replenish fund balance 144,000 For unexpected acquisition of equipment and street repair costs (144,000) Transfer from General Fund for street repair costs and unexpected acquisition of equipment 297' 297 Transfer between funds to record project costs to correct fund 141 Streets 476 WW 421 Airport 323 Yakima RDA 38,000 One-time Interfund Transfer to Airport (38,000) One-time Interfund Transfer from Streets 850,000 Transfer to 323 for Lift/Mill site area sewer replacement (850,000) Transfer from 476 for Lift/Mill site area towards $1M match 2,929,000 (2,929,000)