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H3. Res. 6051, Comm. Dev. Budget AmendmentCITY 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: Resolution amending the fiscal year 2021 Community Development Miscellaneous fund budget MEETING DATE: October 4, 2021 BACKGROUND: At the September 7, 2021, regular meeting, City Council set a date of September 20, 2021, for holding a public hearing regarding amending the fiscal year 2021 Community Development Projects special revenue fund budget. At the September 20, 2021, public hearing, there was no public comment regarding this amendment. Unanticipated closing cost 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 6051, amending the fiscal year 2021 Community Development Miscellaneous appropriation budget by $44,074. ATTACHMENTS: Fiscal year 2022 CD Projects budget showing amendment for fiscal year 2020 RESOLUTION NO. 6051 A RESOLUTION AMENDING THE COMMUNITY DEVELOPMENT MISCELLANEOUS SPECIAL REVENUE FUND BUDGET OF THE CITY OF KALISPELL, MONTANA, AS SET FORTH IN THE 2020-2021 BUDGET ADOPTED BY THE CITY COUNCIL. WHEREAS, on August 17, 2020, the City Council adopted Resolution 5987 adopting the annual appropriations of the City of Kalispell for fiscal year 2020-2021; and WHEREAS, in the budget adopted by the City of Kalispell for the 2020-2021 fiscal year, certain detailed and itemized estimates of expenditures of the Community Development Miscellaneous Fund were not included at the time of adoption; and WHEREAS, at the public hearing previously noticed and held on September 20, 2021, the City Council solicited and considered public comment made to said amendment request; and WHEREAS, it is in the best interest of the City at this time to amend the annual appropriations to include an unanticipated closing cost of $44,074 in the Community Development Miscellaneous Fund. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL AS FOLLOWS: SECTION 1. The City Manager is directed to immediately make amendments to the 2020- 2021 fiscal budget as follows: 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. PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE CITY OF KALISPELL, THIS 4TH DAY OF OCTOBER, 2021. Mark Johnson Mayor ATTEST: Aimee Brunckhorst, CMC City Clerk 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