HomeMy WebLinkAbout08-28-17 City Commission Packet Materials - A4. Resolution 4822, Budget Amendment for Revenues Exceeding Tax Estimates
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Anna Rosenberry, Assistant City Manager
SUBJECT: Commission Resolution No. 4822 – Amending the City’s Annual
Budget to Include Items to be Funded with Property Tax Revenues
that exceed our Budgeted Property Tax Estimates.
MEETING DATE: August 28, 2017
AGENDA ITEM: Action
RECOMMENDATION: Make any amendments the Commission deems appropriate.
BACKGROUND: This Resolution is linked to the outcome and passage of Resolution No.
4821 - Setting Mill Levies for Fiscal Year 2017-2018 (FY18). If the passage of Resolution No.
4821 results in more property tax revenue being received than was included in the Approved
Budget, this hearing and resolution allow the Commission to appropriate those dollars for
projects or other items.
***If Resolution No. 4821 is passed as Recommended or the tax levy is further reduced,
this hearing and resolution will not be used.
FISCAL EFFECTS: This resolution will amend the current budget. The fiscal effects of
property taxes imposed is described in detail in the Commission Memorandum for Resolution
No. 4821.
ALTERNATIVES: None at this time.
Attachment: Resolution 4822
Report compiled on August 17, 2017
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COMMISSION RESOLUTION NO. 4822
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, AMENDING THE CITY’S ANNUAL BUDGET TO INCLUDE ITEMS TO
BE FUNDED WITH PROPERTY TAX REVENUES THAT EXCEED OUR PROPERTY
TAX ESTIMATES FOR THE FISCAL YEAR ENDING JUNE 30, 2018.
WHEREAS, the City Commission did, on the 20th day of June, 2017, after due and
proper legal notice, conduct a public hearing and adopt a municipal budget for Fiscal Year 2017-
2018 (Fiscal Year 2017); and
WHEREAS, the City has now received Certified Taxable Values from the State of
Montana that allow for the imposition of tax revenues exceeding the amounts in the adopted
budget; and
WHEREAS, the City Commission did, on the 28th day of August, 2017, after due and
proper legal notice, conduct a public hearing on proposed amending the municipal budget.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Bozeman, Montana, to wit:
Section 1 – Appropriation Additions
The City Commission of the City of Bozeman, Montana, does hereby authorize
additional expenditures in the Library Depreciation Reserve Fund:
(List here, description) (Amount)
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Resolution 4822, Amending the Budget to Include Items to be Funded with Property Tax Revenues Exceeding Tax Estimates
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Total Additional Appropriations (Total) Section 2 – Revenue Additions
The increased appropriation will be funding tax revenues imposed and collected that
exceed the amounts estimated in the Approved Budget.
General Fund, Property Taxes (Amount) Total Revenue Additions (Total)
Section 3
Pursuant to Section 7-6-4030, M.C.A., this resolution, upon its passage, shall be in full
force and effect on July 1, 2016.
Section 4
That should it be found by any court of competent jurisdiction that any section, clause,
portion, sentence, word, or phrase of this resolution is deemed to be contrary to any existing law
or regulations, that in this instance, it is the intent of the City Commission of the City of Bozeman,
Montana, that all other portions, sections, words, clauses, phrases, or paragraphs of this document
shall remain in full force and effect.
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Resolution 4822, Amending the Budget to Include Items to be Funded with Property Tax Revenues Exceeding Tax Estimates
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PASSED, ADOPTED, AND APPROVED by the City Commission of the City of
Bozeman, Montana, at a regular session thereof held on the 28th day of August, 2017.
___________________________________ CARSON TAYLOR Mayor
ATTEST: _____________________________________ ROBIN CROUGH City Clerk APPROVED AS TO FORM:
___________________________________ GREG SULLIVAN City Attorney
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