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H7. Res. of Intent 6050, Comm. Dev. Special Revenue Budget AdjustmentCITY OF City of Kalispell ALISPELL post Office Box 1997 -Kalispell, Montana 59903-1997 Telephone (406) 758-7000 Fax - (406) 758-7758 REPORT TO: Doug Russell, City Manager FROM: Rick Wills, Finance Director SUBJECT: Call for Public Hearing Budget Amendment for Fiscal year 2021 MEETING DATE: September 7, 2021 BACKGROUND: A public hearing is necessary prior to amending the City's fiscal year 2021 budget for the following fund. The Community Development Projects (2886) special revenue fund budget exceeded budget authority by $44,074. Unanticipated closing costs related to the sale of property at the Old School Station industrial/technological park resulted in an appropriation shortage in the fund of $44,074. RECOMMENDATION: It is recommended that the Kalispell City Council adopt Resolution 6050, a resolution of intent calling for a public hearing on September 20, 2021, to amend the Community Development Projects Special Revenue Fund budget of the City of Kalispell, Montana, as set forth in the 2020-2021 budget adopted by the City Council. FISCAL IMPACTS: $44,074 fiscal year 2021 budget amendment for fund 2886. ATTACHMENTS: Resolution 6050 and Notice Fiscal year 2022 CD Projects budget showing amendment for fiscal year 2021 RESOLUTION NO.6050 A RESOLUTION OF INTENT CALLING FOR A PUBLIC HEARING TO AMEND THE COMMUNITY DEVELOPMENT PROJECTS SPECIAL REVENUE FUND BUDGET OF THE CITY OF KALISPELL, MONTANA, AS SET FORTH IN THE 2021-2022 BUDGET ADOPTED BY THE CITY COUNCIL. WHEREAS, in the budget adopted by the City of Kalispell for the 2021-2022 fiscal year, certain detailed and itemized estimates of expenditures of the Community Development Projects Fund were not included at the time of adoption. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL AS FOLLOWS: SECTION 1. On the 20th day of September, 2021 at 7:00 o'clock P.M., in the Council Chambers, City Hall, 201 1st Avenue East, Kalispell, Montana, the City Council of the City of Kalispell shall hold a Public Hearing on the following amendment to the 2021-2022 fiscal budget: Community Development Miscellaneous Fund Redevelopment 2886-480-470210-795 $44,074 For the purpose of paying closing costs associated with the sale of Old School Station Property. SECTION 2. That notice of the passage of this resolution shall be published pursuant to Section 7-1-4127, MCA. PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE CITY OF KALISPELL, THIS 7TH DAY OF SEPTEMBER, 2021. Mark Johnson Mayor ATTEST: Aimee Brunckhorst, CMC City Clerk NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN, that on the 20th day of September 2021 at 7:00 P.M., in the Council Chambers, City Hall, 201 1st Avenue East, Kalispell, Montana, the City Council of the City of Kalispell shall hold a Public Hearing on the following amendments to the 2021-2022 fiscal budget: Community Development Miscellaneous Fund Redevelopment 2886-480-470210-795 $44,074 For the purpose of paying closing costs associated with the sale of Old School Station Property. Further information is available on-line athlt2s://www.kalis]2ell.com/agendacenter or contact the Finance Director at City Hall, telephone (406) 758-7950. Any person wishing to address the proposed budget amendment may appear at this hearing in person or online and make oral statements or present same in writing. Written comments may also be submitted for Council consideration by delivering the same to the City Clerk at 201 First Avenue East, Kalispell, MT 59901, (PO Box 1997, 59903) or by email to publiccomment2kalispell.com prior to the hearing. Dated this 7th day of September 2021. Aimee Brunckhorst, CMC City Clerk Publish: September 12, 2021 September 19, 2021 Community Development Projects FUND: 2886-480-470210 PROJECTED REVENUE AND FUND SUMMARY BEGINNING CASH 10100 CASH: 10150 CASH: Old School Redevelopment REVENUES 371010 Interest/Misc. 373010 Interest from Old School Lot sale Old School SID lot sale Total Revenue Total Available EXPENDITURES M&O M & O from Old School Redevelopment/Grants/Transfers Old School debt transfer (TRAIL) / redev Total Expenditures ENDING CASH 10100 CASH: 10150 CASH: Old School Redevelopment amended ACTUAL BUDGET ACTUAL BUDGET FY19/20 FY20/21 FY20/21 FY21/22 $264,880 $255,585 $255,585 $41,293 $68,194 $116,766 $116,766 $646,680 $4,699 $100 $1,993 $2,000 $5,376 $14,820 $14,166 $25,000 $87,900 $0 $672,500 $175,000 $97,975 $14,920 $688,659 $202,000 $431,049 $387,271 $1,061,010 $889,972 $12,994 $6,716 $8,367 $0 $0 $10,017 $8,367 $0 $45,704 $205,085 $207,919 $41,293 $0 $151,220 $148,386 $786,842 $58,698 $373,038 $373,038 $828,135 $255,585 $43,784 $41,293 $0 $116,766 $185,551 $646,680 $0 38 Community Development Projects FUND: 2886-480-470210 EXPENDITURE DETAIL amended ACTUAL BUDGET ACTUAL BUDGET FY19/20 FY20/21 FY20/21 FY21/22 Materials and Services: 353 Auditing $1,000 $1,000 $1,000 $0 373 Dues & Training $90 $0 $0 $0 379 Meetings $164 $0 $0 $0 522 Administrative Transfers $2,000 $2,000 $500 $0 528 Information Tech. Transfers $9,094 $15,233 $15,233 $0 532 Office Rent new bldg $646 $646 $0 $0 Total Materials & Services $12,994 $18,879 $16,733 $0 Redevelopment: 790 Redevelopment Activity $1,000 $5,000 $2,834 $0 795 Old School Taxes / other $44,704 $78,386 $78,386 $0 815 Transfer to WS TIF (trail) from Old School funds (General f $0 $65,688 $70,000 $786,842 810 Transfer to WS TIF $0 $205,085 $205,085 $41,293 Total Redevelopment $45,704 $354,159 $356,305 $828,135 GRAND TOTALS $58,698 $373,038 $373,038 $828,135 39