05. Resolution 5075 - 2005/2006 Budget Amendment - Old School Station SID 344i,,ity of Kali'spell
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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