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HomeMy WebLinkAbout12/11/2018 06K 2018 Budget; Making Appropriations from Unappropriated Balances for Expenditure During 2018 to\'4\lyy tbxk ik 1 PP1-:4P PPP g. A P p P 1 PPi ittYlltYlt.\ta. BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 6.K. For Meeting of: December 11, 2018 ITEM TITLE: Ordinance amending the 2018 budget and making appropriations from unappropriated balances for expenditure during 2018 (Second 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 G I S 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 2 APPROVED FOR City Manager SUBMITTAL: STAFF RECOMMENDATION: Pass ordinance. BOARD/COMMITTEE RECOMMENDATION: ATTACHMENTS: Description Upload Date Type D 011 dmerding the 201B budget 11/2R,2018 Cuter Memo D luterfund Transfers 11127/2015 Cuter Men iu 3 ORDINANCE NO. 2018- AN ORDINANCE 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 MAYOR ATTEST: ACTING CITY CLERK First Reading: December 4, 2018 Publication Date: December 11, 2018 Effective Date: December 11, 2018 4 City of Va kima 2018 Budget Amendment-Interfund Traders December 2018 From Fund To Fund Expenditure Revenue Description N IName N IName $ $ Dr(Cr) Dr(Cr) Increase expenditures due to additional revenue within the same fund: 144 Cemetery 25,000 Increased storm and other operating costs 144 Cemetery (25,000) Increased revenue from burial services 25 0OO i25 0C+0`t 171 Capitol Theatre 5,000 Additional Small Tools&Equipment 171 Capitol Theatre (5,000) Additional PFD Revenue 5,000 {i0001 474 Water operating 40,000 474 Water operating (40,000) Increase Water Revenue 40,000 00,000) 442 Stormwater Operating 326,000 442 Stormwater Operating (26,000) Additional utility tax revenue 141 Streets (300,000) Transfer to Streets 320,000 (32b,000;)t 392 Capital Improvement Reserve 74,000 Laser fiche system 392 Capital Improvement Reserve (31,000) Additional GIS Revenue 392 Cap lmpr Reserve (43,000) Transfer in From General Fund to replenish fund balance 74 DOD 174:0001. 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,DOD (89,0D0:. Transfer from General Fund to replenish Fund Balances 001 General Fund 43,000 To replenish Capital Reserve fund balance 392 Cap lmpr Reserve (43,000) Transfer in From General Fund to replenish fund balance 001 General Fund 110,000 To replenish Law&Justice fund balance 333 Law&Justice (110,000) Transfer in from GF to replenish fund balance 001 General Fund 144,000 For unexpected acquisition of equipment and street repair costs 141 Streets (144,000) Transfer from General Fund for street repair costs and unexpected acquisition of equipment 247,000 0'17.00O1 Transfer between funds to record project costs to correct fund 141 Streets 38,000 One-time Interfund Transfer to Airport 421 Airport (38,000) One-time Interfund Transfer from Streets 476 WW 850,000 Transfer to 323 for Lift/Mill site area sewer replacement 323 Yakima RDA (850,000) Transfer from 476 for Lift/Mill site area towards$1M match 888,000 aif3;000c:. 2,929,000 (2,929,000)