F01. Resolution 5725 - Budget AmendmentsCity of Kalispell
Post Office Box 1997 - Kalispell, Montana 59903-1997
_ ..► �� Telephone (406) 758-7000 Fax - (406) 758-7758
At NT.A.N.A
REPORT TO: Doug Russell, City Manager
FROM: Rick Wills, Finance Director
SUBJECT: Budget Amendments for FY2015
MEETING DATE: August 17, 2015
BACKGROUND: Multiple funds need to be amended to accommodate the purchase
of property at the Old School Station Industrial/Technology TIF. The Community Development
— Miscellaneous fund needs to be amended by $1,300,000 for the payment of taxes on the
properties to be purchased/obtained. The Old School Station TIFs need to be amended by
$250,765 and $57,360 for the transfer of funds to the CD — Miscellaneous fund to help offset the
cost of the Special Improvement District taxes paid by that fund in the acquisition of the Old
School Station properties.
RECOMMENDATION: It is recommended the City Council approve Resolution 5725
amending the following three funds budgets; Community Development — Miscellaneous by
$1,300,000, Old School Technology TIF by $250,765, and Old School Industrial TIF by $57,360.
FISCAL IMPACT: $1,300,000 budget amendment for fund 2886, $250,765 budget
amendment for fund 2310, and $57,360 budget amendment for fund 2311.
ATTACHMENTS: Resolution 5725, Budget Amendment
RESOLUTION NO.5725
A RESOLUTION TO AMEND THE ANNUAL APPROPRIATIONS OF THE CITY OF
KALISPELL, MONTANA, AS SET FORTH IN THE 2014-2015 BUDGET ADOPTED BY
THE CITY COUNCIL.
WHEREAS, on August 18, 2014, the City Council adopted Resolution 5682 adopting the annual
appropriations of the City of Kalispell for fiscal year 2014-2015; and
WHEREAS, in the budget adopted by the City of Kalispell for the 2014-2015 fiscal year, certain
detailed and itemized estimates of expenditures were not included in the operation of
the Community Development - Miscellaneous Special Revenue Fund, the Old School
Station Technology TIF, and the Old School Station Industrial TIF for the 2014-2015
fiscal year; and
WHEREAS, the City of Kalispell will use the funds to purchase/obtain certain properties in the
Old School Station Industrial/Technology Park; and
WHEREAS, at a public hearing held on August 17, 2015, the City Council did consider all
objections made to said budgets.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL AS FOLLOWS:
SECTION 1. Amendments to the 2014-2015 fiscal budget as follows:
Community Development — Miscellaneous Special Revenue Fund
For line item 2886-480-470210-795 $1,300,000
Old School Station Technology TIF Special Revenue Fund
For line item 2310-480-470210-820 $ 250,765
Old School Station Industrial TIF Special Revenue Fund
For line item 2311-480-470210-820 $ 57,360
SECTION 2. That on August 17, 2015 at 7:00 o'clock P.M., the City Council authorized
and directed the Finance Director to increase the appropriations.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE
CITY OF KALISPELL, THIS 17TH DAY OF AUGUST, 2015.
Mark Johnson
Mayor
ATTEST:
Judi Funk
Deputy City Clerk