Title
Amendment to Ordinance 6965 (Special Funds)
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve amending ordinance on second reading.
Report
Issue:
Amendment to Ordinance 6965
Staff Contact:
Dean Walz, Fiscal Services Director, Administrative Services Department, 360.753.8465
Presenter(s):
Dean Walz, Fiscal Services Director
Background and Analysis:
There is no change in background and analysis from first to second reading.
To change the budget the Council must approve a new ordinance amending the budget. Generally, budgetary amendments are made quarterly. On occasion a budget change needs to be made between the quarterly updates and a separate ordinance will come before the council. These ordinances do not officially amend the budget ordinance, but does provide authorization to expend funds. The attached ordinance reflects ordinances which may have been adopted relating to the budget since the last quarterly update, and other proposed changes to the budget.
One ordinance was passed since the adoption of Ordinance 6965 related to the Special Funds Budget.
Ordinance 6962 passed on June 9, 2015. The ordinance appropriated $150,000 of The Washington Center Endowment Fund for operation needs of the Washington Center and $200,000 for a development position. Funding was from the fund balance of The Washington Center Endowment Fund.
Budget Item Not Previously Presented to the Council:
1) Appropriation of $245,000 of program income of the HUD Fund. Funding is from loan repayments.
2) Appropriation of $20,000 for exterior painting at the Farmers Market. Funding is from the Farmers Market Fund, fund balance (prior payments to the Fund from the Farmers Market association).
3) Appropriation of $960,000 for the purchase of 3 front-loader Waste ReSource vehicles by fleet equipment replacement fund. These vehicles were originally schedule for replacement in 2016. Due to order lead time, ordering them now will allow for the vehicles to be in service by May 2016. Funding is from fund balance of the replacement fund (previous rent payments).
Neighborhood/Community Interests (if known):
None noted.
Options:
1) Approve ordinance amending ordinance 6965.
2) Do not approve the amending ordinance. The budget items would not be authorized.
Financial Impact:
Total increase in appropriations is $1,575,000. The sources of funding for these appropriations are noted above.