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HomeMy WebLinkAbout04-09-18 City Commission Packet Materials - A2. Resolution 4898, Amending the FY18 Annual Budget for the Water Fund Commission Memorandum REPORT TO: Honorable Mayor and City Commission FROM: Kristin Donald, Finance Director SUBJECT: Commission Resolution No. 4898 – Amending the City’s Annual Budget for the Water Fund Appropriations for the Fiscal Year Ending June 30, 2018 (FY18). MEETING DATE: April 9, 2018 AGENDA ITEM: Action RECOMMENDATION: Approve Resolution No. 4898- Amending the City’s Annual Budget for Water Fund Appropriations. BACKGROUND: The FY18 budget and Capital Improvement Plan included the upgrading the sewer line in Lincoln Street between S. 19th and Willow Way this summer as part of the South University District project. It has been determined that the waterline as well should be replaced while the same section of street is opened up. We estimate the cost to be $89,000. ALTERNATIVES: Do not fund the equipment purchase at this time. FISCAL EFFECTS: The current budgeted spending in the Water Fund will increase by a total of $89,000. The FY18 estimated ending cash balance in the Water Fund will be decreased from $10,255,880, to $10,166,880. 303 Attachment: Resolution No. 4898 Report compiled on March 29, 2018 304 COMMISSION RESOLUTION NO. 4898 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, AMENDING FISCAL YEAR 2018 (FY18) WATER FUND BUDGET TO INCLUDE ADDITIONAL EXPENDITURES OF $89,000. WHEREAS, the City Commission did, on the 26th 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 2018); and WHEREAS, the need to change the projects listed for funding in Fiscal Year 2018 in the adopted Capital Improvement Plan; and WHEREAS, the City Commission did, on the 9th day of April 2018, 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 Changes The City Commission of the City of Bozeman, Montana, does hereby authorize the following changes to expenditures in the Water Fund: Additions: This project and amount is added to the FY18 budget. Water Line- Lincoln Street between S. 19th and Willow Way $89,000 Total Appropriations Changes: $89,000 305 Resolution 4898, Budget Amendment for Water Fund for FY18 Page 2 of 3 Section 2 – Use of Cash on Hand in the Water Fund The increased appropriation will be funded with cash on hand in the Water Fund. 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, 2017. 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 306 Resolution 4898, Budget Amendment for Water Fund for FY18 Page 3 of 3 PASSED, ADOPTED, AND APPROVED by the City Commission of the City of Bozeman, Montana, at a regular session thereof held on the 9th day of April, 2018. ___________________________________ CYNTHIA L. ANDRUS Mayor ATTEST: _________________________________ ROBIN CROUGH City Clerk APPROVED AS TO FORM: ___________________________________ GREG SULLIVAN City Attorney 307