City of Olympia - File #: 14-0229

• File #: 14-0229
• Version: 3
• Type: ordinance
• Status: Passed
• File created: 3/3/2014
• In control: City Council
• Agenda date: 4/15/2014
• Final action: 4/15/2014
• Title: Approval of 2013 Year End Financial Review and Adoption of Ordinance Appropriating Fund Balance for Various Purposes

Date	Ver.	Action By	Action	Result
4/15/2014	3	City Council	adopted on second reading	Pass
4/1/2014	2	City Council	approved on first reading and moved to second reading	Pass
3/12/2014	1	Finance Committee	recommended for approval and referred	Pass

Title
Approval of 2013 Year End Financial Review and Adoption of Ordinance Appropriating Fund Balance for Various Purposes

Recommended Action
Committee Recommendation:
Finance Committee recommends approval of the financial review and adoption of the attached appropriating ordinance.

Recommended Action
City Manager Recommendation:
Move to approve the 2013 Year End Financial Review; and adopt on second reading the ordinance appropriating Fund Balance for various purposes.

Report
Issue:
2013 Year-end financial review and appropriation ordinance.

Staff Contact:
Dean Walz, Finance Manager, 360.753.8465

Presenter(s):
Dean Walz, Finance Manager

Background and Analysis:
On April 1, the Council directed staff to make the following changes to the appropriation detail.

$ 88,880
Parking Special Account
200,000
Information Technology
325,000
PSE - LED light conversion
500,000
Isthmus Park Project - Added
836,300
Facilities major repair & maintenance - Reduced
$ 1,950,180


April 1 proposed appropriation:
The City of Olympia ended 2013 with $1.1 million excess revenue compared to budget and expenses $1.2 million under budget. The Finance Committee recommends the appropriation of $1,950,180 for various purposes.

$ 88,880
Parking Special Account
200,000
Information Technology
325,000
PSE - LED light conversion
1,336,300
Facilities major repair & maintenance
$ 1,950,180



Neighborhood/Community Interests (if known):
N/A

Options:
1) Pass the ordinance on second reading as presented.

2) Pass the ordinance on second reading with different amounts. The ordinance would be changed as directed by Council for presentation on second reading.

3) Do not pass the ordinance.

Financial Impact:
$836,300 from the general fund balance will be appropriated to the Building Repair and Replacement Fund, $500,000 will be appropriated to the Isthmus Park project, and $325,000 will be appropriated...