Title
Approval of an Ordinance Appropriating 2017 Year End Funds
Recommended Action
Committee Recommendation:
Not referred to Committee
City Manager Recommendation:
Move to pass the Ordinance on second reading.
Report
Issue:
Whether to approve an ordinance appropriating $991,990 of 2017 year end funds.
Staff Contact:
Dean Walz, Fiscal Services Director, Administrative Services, 360.753.8465
Presenter(s):
Dean Walz, Fiscal Services Director, Administrative Services
Background and Analysis:
Background and analysis has not changed from first to second reading.
On March 27, 2018 the City Council approved the Finance Committee’s recommendations to allocate $34,831 of 2017 year-end funds and directed staff to prepare an ordinance appropriating the funds.
In addition to the funding for biohazard remediation, the ordinance includes $957,159 to meet Council’s commitment to the Olympia Metropolitan Park District for Park’s operating ($12,159) and capital budgets ($500,000). It also includes $445,000 to fund the 2018 CFP for building repair and major maintenance.
Neighborhood/Community Interests (if known):
N/A
Options:
1) Move to pass the Ordinance on first reading and move to second reading.
2) Direct staff to make changes to the ordinance.
3) Do not approve the ordinance
Financial Impact:
Appropriates $991,990 of General Fund, fund balance.
Attachments:
Ordinance
Year-End Fund Balance and Critical Needs Status