SID 344 Budget AmendmentCity of Kalispell
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Post Office .Box 1997 - Kalispell, Montana 59903-1997 - Telephone (406)758-7700 Fax (406)758-7758
REPORT TO: Mayor Kennedy and City Council Members
FROM: Amy Robertson, Finance Director
James H. Patrick, City Manager
SUBJECT: Budget Amendment for FY2006 —SID 344
MEETING DATE: November 7, 2005
BACKGROUND: The SID 344 project was not included in the original FY2006
budget. After Council approval of the SID, budget authority is
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 funds for the SID Revolving
fund and the Debt Service fund.
RECOMMENDATION: .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
:ter, James H. Patrick
City Manager
RESOLUTION NO. 5075
A RESOLUTION TO AMEND THE ANNUAL APPROPRIATIONS OF THE CITY OF
KALISPELL, MONTANA, AS SET FORTH IN THE 2005-2006 BUDGET ADOPTED BY
THE CITY COUNCIL.
WHEREAS, on August 15, 2005, the City Council adopted Resolution 5034 adopting the annual
appropriations of the City of Kalispell for fiscal year 2005-2006; and
WHEREAS, in the budget adopted by the City of Kalispell for the 2005-2006 fiscal year, certain
detailed and itemized estimates of expenditures have proven inaccurate in the
operation of said Funds for the 2005-2006 fiscal year, and
WHEREAS, at a public hearing held on November 7, 2005, the City Council did consider all
objections made to said budget.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL AS FOLLOWS:
SECTION I. Amendments to the 2005-2006 fiscal budget are as follows:
4244-000-381030-000 Proceeds of Bonds $4,550,000
4244-410-430315-950 Construction Account $3,963,100
4244-410-420315-352 Bond issue costs 131,900
4244-410-430315-820 Transfer to Debt Service Reserve 227,500
4244-410-430315-830 Transfer to SID Revolving Fund $ 227,500
Total Budget $4,550,000
SECTION II. That on November 7, 2005 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 7TH DAY OF NOVEMBER, 2005.
Pamela B. Kennedy
Mayor
ATTEST:
Theresa White
City Clerk