HomeMy WebLinkAbout07397ORDINANCE NO. 7397
A ORDINANCE APPROVING THE TRANSFER OF $214,000 FROM THE GENERAL FUND
RESERVES FUND BALANCE IN THE 2005 BUDGET TO THE PUBLIC WORKS DEPARTMENT
TO BE USED FOR STREETLIGHT UTILITY ACCOUNT.
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
Funds in the amount of $214,000 shall be transferred from the 2005 general fund reserves
fund balance into the 2005 Public Works Department budget.
SECTION 2.
Said funds shall be used to supplement the streetlight utility account.
INTRODUCED October 24, 2005
BY Randy Thurston
Councilperson
APPROVED:
PR E CITY C IL
ATTESTED BY:
CITY CLERK
PASSED AND APPROVED November 14, 2005
Background Paper for Proposed
ORDINANCE
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AGENDA ITEM # 37
DATE: OCTOBER 24, 2005
DEPARTMENT:
TITLE
FINANCE
PUBLIC WORKS
BOB HAIN, DIRECTOR
DAN CENTA, PE, DIRECTOR
A ORDINANCE APPROVING THE TRANSFER OF $214,000 FROM THE GENERAL FUND
RESERVES FUND BALANCE IN THE 2005 BUDGET TO THE PUBLIC WORKS
DEPARTMENT TO BE USED FOR STREETLIGHT UTILITY ACCOUNT.
ISSUE
Should City Council transfer $214,000 from the 2005 general fund reserves fund balance to the
Public Works Department budget to provide additional funds for the streetlight utility account.
RECOMMENDATION
Approval of Ordinance
There will be an estimated $422,000 shortfall in the 2005 streetlight utility account. The salary
savings from the 2005 Public Works budget in the amount of $208,000 will be transferred to the
streetlight utility account leaving a shortfall of $214,000.
FINANCIAL IMPACT
Funds in the amount of $214,000 will be transferred from the 2005 general fund reserves fund
balance into the 2005 Public Works Department budget.