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| DATE:
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6/16/2015 7:00:00 PM |
| SUBJECT: |
| Council Consideration of a Resolution to Approve Amendments to the Gillette City Budget for FY2014-2015. |
| BACKGROUND: |
TOTAL BUDGET AMENDED EXPENSE: $1,387,227
Includes:
1) Additional expense offset by new revenues: $179,227
2) Transfers between Funds with no impact on city-wide cash position: $5,000
3) Design and pre-construction services for the Gillette College Student Housing Phase II, to be reimbursed through Certificates of Participation: $892,000
4) City-wide application of unassigned cash: $311,000
This is the third and final budget amendment to the FY2014-2015 approved budget and has been scheduled for Council consideration at the June 16, 2015 meeting. Following is a summary of the budget amendment categories:
1) Additional expenses offset by new revenues: This category provides expenditure authority for grant related costs totaling $26,500, along with donations of $2,798 for police expenditures; $8,500 for Mayor's Art Council sponsorships; $130,000 for tree removals and replacements; and $11,429 for drainage repairs, all of which also have offsetting revenues.
2) Transfers between funds with no impact on city-wide cash position: This category provides expenditure authority for operating transfers between funds that are necessary to create a positive cash position in the receiving fund. The transfer included in this amendment is a transfer from the 1% Fund to the General Fund of $5,000 to help cover the cost of the Coal Country Trash-a-Thon.
This amendment also includes authorization to move line item budget amounts between Divisions having no net effect on the overall budget.
3. Design and pre-construction services for the Gillette College Student Housing Phase II: The design contract and CMAR Pre-Construction Services Agreement were awarded in FY2015 for a total of $892,000. This amendment will provide the expenditure authority for those services. The contracts are eligible to be reimbursed by the proceeds from the issuance of Certificates of Participation.
4. Application of unassigned cash: This category provides additional funding for unbudgeted/under budgeted expenses related to: Salary/benefit costs - $51,000; lighting at Dalbey Park for the Campbell County Junior Football Association - $150,000; Gillette College Education and Activity Center fee waiver request - $60,000; and an additional chassis for the aerial bucket truck - $50,000.
This category also represents an additional application of unassigned cash in the General Fund of $350,401 to move the budget associated with the Aquatic Park design, which was originally budgeted in the 1% Fund. This will result in adding $350,401 back to the 1% Fund's unassigned cash.
The Budget Amendment will result in the following applications of unassigned cash:
General Fund: $611,401
1% Fund: ($350,401)
Vehicle Maintenance Fund: $50,000
A detailed itemization of the budget amendment requests is attached. All requests included for your consideration have been reviewed and recommended for approval by the Finance Department and Administration.
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| SUGGESTED MOTION: |
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I move to adopt the Resolution to amend the City of Gillette budget for the 2014-2015 fiscal year.
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| STAFF REFERENCE: |
| Tom Pitlick, Finance Director |
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