HomeMy WebLinkAbout5.F.3. 2010 Budget Amendment-Res. No. 7038sF3.
CITY OF SHAKOPEE
Memorandum
M
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T0: Mayor and Council
Mark McNeill, City Administrator
FROM: Gregg Voxtand, Finance Director
RE: 2010 Budget Amendment Resolution No. 7038
DATE: August 31, 2010
Introduction
Attached is a resolution which amends the 2010 Budget in accordance with Council direction at the
August 30, 2010 meeting.
Background
The 2010 budget amendment is for;
General Fund
1. Transfer General Fund -fund balance to Park Reserve Fund to pay off the loan from the Sewer
Fund ($1,350,000).
2. Transfer General Fund -fund balance to Park Reserve Fund to pay for the development of
Greenfield/Park Meadows Park ($675,000).
3. Transfer General Fund -fund balance to Building Internal Services Fund to provide more
resources to the building fund ($671,000).
4. Transfer General Fund -fund balance to the IT fund for the $100,000 earmarked from the close
out of the Telecomm Fund for technology project ($100,000).
5. Increase the Recreation budget for minor remodeling work continued over from 2009 ($23,640).
6. Increase the Library budget for compressor replacement (Council authorized in May) and reduce
the contingency appropriation ($13,000).
Other Funds
7. Transfer from the Capital Improvement Fund to the 2011 Fire Station capital projects fund to
pay for station construction ($2,600,000).
8. Transfer from the Building Fund to the Park Reserve Fund for Riverside Bluffs park ($475,000
from money "parked" in 2009).
9. Transfer from the Employee Benefits Fund (Other Post Employment Benefits portion} to the
Park Reserve Fund for Riverside Bluffs park ($200,000).
10. Transfer from the Employee Benefits Fund (OPEB) to the Park Asset Fund to move the
remainder of the OPEB balance out of the Employee benefits Fund since OPEB is not being
funded ($377,265).
The net change for General Fund 2010 budget is increase of $2,819,640. The attached resolution is
provided for Council action. Of the funds cited above, only the General Fund has a "legally adopted"
budget and therefore the resolution attached does not include the other funds.
Staff did not perceive a decision on the parcel 75 assessments
Action
Offer Resolution Number 7038, A Resolution Amending Resolution N0. 6963 A Resolution Adopting The
2010 Budget, and move its adoption.
Move to transfer;
$675,000 from the General Fund to the Park Reserve Fund for Greenfield Park.
$1,350,000 from the General Fund to the Park Reserve Fund for paying off the inter-fund loan from
the Sewer Fund.
$671,000 from the General Fund to the Building Fund
$100,000 from the General Fund to the IT Fund
$2,600,000 from the Capital Improvement Fund to the 2011 Fire Station Capital Projects Fund.
$475,000 from the Building Fund to the Park Reserve Fund for Riverside Bluffs Park.
$200,000 from the Employee Benefits Fund (OPEB portion) to the Park Reserve Fund for Riverside
Bluffs Park.
$377,265 from the Employee Benefits Fund (OPEB portion) to the Park Asset Fund.
Gr gc~ g Voxland
Finance Director
RESOLUTION N0.7038
A RESOLUTION AMENDING RESOLUTION N0.6963
A RESOLUTION ADOPTING THE 2010 BUDGET
WHEREAS, the City Council of the City of Shakopee has adopted a Budget for 2010, and
WHEREAS, due to changing conditions and circumstances, there is reason to amend the Budget,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE, MINNESOTA, that
the 2010 Budget is amended as follows:
General Fund increase
Recreation Division $ 23,640
Library 13,000
Unallocated (13,000)
Transfer Out 2,796,000
Adopted in
day of September, 2010.
session of the City Council of the City of Shakopee, Minnesota held this
Mayor of the City of Shakopee
ATTEST:
City Clerk