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RESOLUTION NO. 08-1 8706 A RESOLUTION TO MAKE FISCAL YEAR 2OO8 ADJUSTMENTS APPROPRI-ATIONS PI.IRSUANT TO M.C.A. 7.6.4006 AS AMENDED, AND PROVIDING TRANSFERS AND REVISIONS WITHIN THE GENERAL CLASS OF SALAzuES AND WAGES, MAINTENANCE AND SUPPORT AND CAPITAL OUTLAY. \Ã/HEREAS, M.C.A. 7-6-4006 provides that the Cify Council, upon proper resolution, adopted by said Council at a regular meeting and entered into its Minutes, may transfer or revise appropriations within the general class of salaries and wages, maintenance and zupport, and capital outlay, and WHEREAS, based upon a Quarterly Budget Review çfY 2007/2008), it is necessary to alter and change said appropriations. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COL]NCIL OF THE CITY OF BILLINGS. MONTANA: That the attached transfers or revisions are hereby adopted. (SEE EXHIBIT A) PASSED AND APPROVED by the City Council, this l2th day of Ma¡ 2008. THE CITY OF BILLINGS: ATTEST: sv: U^J,; >:lL¿.lruL) Cari Martin. CITY CLERK Ron Tussing, MAYOR ---PAGE BREAK--- EXIIIBIT A Revenue Expenditure 240 - Cit¡¡ County Planning Fund The expenditure budget for GIS services from Yellowstone County needs a $40,000 increase. This cost is subtracted out of the tax collection payment from the County and thus is not shown as a separate payment. The tax collection revenue budget also needs to be increased by the same s40.000. $40,[PHONE REDACTED]-311 0110 240-4301-419 3934 Property Tax Revenue GIS Services Expenditure $40,000 202 - Downtown Tax Increment Operating Fund 329 - Downtown Tax lncrement Debt Service Fund The final interest and principal payment was made for Downtown Tax lncrement Debt Service Fund in March 2008 and the fund has a balance of approximately $600,000 to transfer to Fund 202, the Downtown Tax Increment Operating Fund. This budget adjustment is requested to transfer these funds. 202-1513-383 7514 329-1531-472 8225 $600,000 Transferfrom Debt Seruice Fund $600,000 Transfer to Operating Fund 758 - Amend Park Fund 010 - General Fund In the Amend Park Fund, revenues in excess of expenditures are transferred to the General Fund to reimburse that fund for costs incurred for that parks maintenance and improvements. This budget amendment is requested for the transfer of excess funds not transferred in fiscal years 2006 and 2007, There is no revenue amendment for fund 758 because the revenue was earned in prior years. 758-5174-452 8216 7564 4,500 4,500 Transfer to the General Fund Transfer from Amend Park Fund 010-5111-383 544 - Solid Waste Landfill Fund This budget amendment is requested to increase capital expenditures in the Solid Waste Fund by $425,000. Revenue will not increase because there is sufficient unencumbered cash to oav these costs, The funds will be used for construction of the Phase 3 landfill cell. Bids were opened and were higher than estimated. These funds are necessary to complete the construction of the new cell before the current disposal area is completely filled. 544-3123-435 9390 425,000 Landfill lnfrastructure Revenue Expenditure 202 - Downtown Tax Increment Operating Fund This budget amendment is requested to increase the budget for services and projects contracted for in the Development Agreement between the City of Billings and the Downtown Billings Partnership and the Downtown Development Corporation which was approved on November 26,2007, and amended on February 25,2008, and is evidenced by Resolutions 07-18636 and 08-'18680. No revenue is budgeted because there is sufficient unencumbered cash to fund these expenditures, 202-1503-466 7946 202-1503-466 7973 220,000 Administration - Downtown Billings Partnership - Operating Agreement '1,430,000 ---PAGE BREAK--- 432 -South Tax Increment #5 Construction Fund 502 - [,Vater Fund 205 - Gas Tax Fund This capital expenditure is for the design and construction of King Avenue East improvements. The construction contracts are for $521,000. Loans from the Water and Gas Tax Funds will finance expenditures until bonds are sold, 432-3110-381 6950 166,[PHONE REDACTED]'381 6950 354,[PHONE REDACTED]-431 9310 205-3131-433 5933 502-7211-601 5933 Loan from fund 502 Loan from fund 205 521,000 Capital OutlaY 354,583 Loan to fund 432 166.417 Loan to fund 432