Full Text
1 Ogden City Council Meeting: November 15, 2016 FY2017 BUDGET AMENDMENT ($1,133,325) – Revenue Arts Ticket and Merchandise Sales, Sponsorship and RAMP Grants ($19,200) Transfer from Other Funds ($100,000) Use of BDO Retaining Earnings ($1,000,000) Miscellaneous Grants ($14,125) – Appropriations Arts Events ($19,200) Demolition ($100,000) Bicycle Rodeo and Bullet Proof Vests ($14,125) Transfer to RDA ($900,000) Transfer to General Fund ($100,000) Action: Set or Not Set Public Hearing for December 6, 2016 Executive Summary The Council will consider setting a public hearing on an Ordinance that authorizes budget amendments totaling $1,133,325. The budget amendment recognizes and appropriates various revenues for Arts programs and police grants. The budget amendment also recognizes and transfers $1,000,000 of BDO Lease Revenue Retained Earnings to the RDA for a future property purchase ($900,000) and to the General Fund for a future demolition project ($100,000) Background During the fiscal year, the Council entertains requests for budget adjustments to allow for the following: 1. Entering grant or other special purpose revenues into the budget prior to expenditure. 2. Making mid-course corrections to avoid budget overruns. 3. Forwarding encumbrances from the previous fiscal year. 4. Other items dealing with special circumstances or opportunities. The Uniform Fiscal Procedures Act for Utah Cities requires that a public hearing be held on all budget adjustments where the budget of one or more funds is increased. (Utah Code Ann. §10-6-127.) Notice of the public hearing must be ---PAGE BREAK--- 2 Ogden City Council Meeting: November 15, 2016 given seven days prior to the hearing. (Utah Code Ann. §10-6-113.) For year- end adjustments, the hearing must be held before June 30. November 1, 2016 A transmittal outlining the Administration’s request for a budget adjustment was received in the Council offices. November 15, 2016 The City Council will review the proposed budget amendment prior to the regular meeting. The Council will consider setting a public hearing on the proposed budget amendment for December 6, 2016. Proposal The proposal is to amend the FY2017 budget to provide for additional revenues in the amount of $1,133,325 not previously anticipated and to appropriate the additional funds for various expenditures. A summary of the Revenues and Appropriations is shown below: Summary of Revenues Notes Fund/ Source Amount Total General Fund Arts Events Ticket Sales $ 12,000 Arts Merchandise Sales $ 200 Sponsorship $ 2,000 Ogden International Concert Series RAMP Grants $ 5,000 “ “ Transfer from Other Funds $ 100,000 Demolition Sub-Total $ 119,200 BDO Fund Use of Retained Earnings $ 1,000,000 For Demolition and Future RDA Property Purchase Sub-Total $ 1,000,000 Miscellaneous Grants Fund Bicycle Rodeo Grant $ 5,000 Utah Highway Safety Office Bullet Proof Vest Program $ 9,125 Dept. of Justice Sub-Total $ 14,125 TOTAL $ 1,133,325 ---PAGE BREAK--- 3 Ogden City Council Meeting: November 15, 2016 Summary of Appropriations Notes Fund/ Source Amount Total General Fund Arts Events $ 19,200 Loan for Demolition $ 100,000 Sub-Total $ 119,200 BDO Fund Transfer to RDA $ 900,000 Future Property Purchase Transfers to General Fund $ 100,000 Future Demolition Sub-Total $ 1,000,000 Miscellaneous Grants Fund Bicycle Rodeo Grant $ 5,000 Bullet Proof Vests Award $ 9,125 Sub-Total $ 14,125 TOTAL $ 1,133,325 Questions Please review the proposed budget amendment and highlight the revenues and expenditures. Council Staff Contact: Janene Eller-Smith, (801)629-8165 ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- 2016-60 ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK---