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05. Resolution 5075 - 2005/2006 Budget Amendment - Old School Station SID 344i,,ity of Kali'spell M&929� Post Office .fox 1997 -- Kalispell, Montana 59903-1997 - 0 7 -7700 Fax 7 -77 REPORT Mayor Kennedy and City Council Members FROM: Amy Robertson, Finance Director James H. Patrick, City Manager SUBJECT: Budget Amendment for FY2006 —SID MEETING DATE: November 7, 25 BACKGROUND* The SD 344 project was not included in the rigi.i FY2006 budget. After Council approval of the S, budget authon4y needed to enter into a construction contract. Please amend the budget for $4,500,000 which will include construction as well as bond issue costs and reservations of ids for the SID Revolving fund and the Debt Service mod. RECOMMENDATION. TION. Adoption of Resolution amending the budget. FISCAL IMPACT. $4,500,000 for SID 344 Construction Fund which will provide infrastructure assets for the City. Amy H. Robertson. Finance Director Report compiled: November 3, 2005 x Jamesli. Patrick City Manager RESOLUTION NO, 5075 RESOLUTION TO AMEND THE ANNUAL APPROPRIATIONS of THE CITY of KALISPELL, MONTANA5 AS SET FORTH IN THE 2005-2006 BUDGET ADOPTED THE CITY COUNCIL, WHER-EAS, on August 1 , Zoo , the City Council adopted Resolution 5034 adopting the annual PP ro r atlons of the City of Kalispell for fl sal year 2 005 - and WHEREAS, in the budget adopted by the City of Kalispell for the 5-200fiscal year, certain detailed and itemized estimates of expenditures have proven inaccurate in the operation of said .funds for the 05-200fiscal year, and WHEREAS, at a public hearing held on November ", 20051 the City Council did consider al objections made to said budget, NOW THEREF10RE, BE IT RESOLVED BY THE CITY COUNCIL of THE CITY of KALISPELL AS FOLLOWS: SECTION 1. Amendments to the 2005-2006 fiscal budget are as follows: 4244-000-381030-000 Proceeds of Bonds 41Y5501000 4244-410-4303 - 50 Construction Account $3,9635100 4244-410-4203 5-352 Bond issue costs 131,boo 4244-410-430315-820 Transfer to Debt Service Reserve 2271500 4244-410-430315-830 Transfer to SID Revolving Fund227,500 Total Budget $41550,000 SECTION . That on November ber , 2 5 at : "clock- .M., the City Council authorized and directed the Finance Director to increase the aronations . PASSED AND APPROVED Y THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE CITY of KALISPELL, THIS 7TH DAY OF NOVEMaER, 2005. Pamela B. Kennedy Mayor ATTEST: Theresa White City Clerk