Title
Approval of Amendment to Ordinance 7022 (Capital Budget)
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve the amending ordinance on second reading.
Report
Issue:
Whether to approve the amendment to Ordinance 7022.
Staff Contact:
Dean Walz, Fiscal Services Director, Administrative Services Department, 360.753.8465
Presenter(s):
None - Consent Calendar Item
Background and Analysis:
To change the budget the Council must approve an ordinance amending the budget. Generally, budgetary amendments are made quarterly. On occasion a budget change is made between the quarterly updates with separate ordinances approved by 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.
No separate ordinances were passed since the adoption of ordinance 7022 relating to the Capital Budget.
Budget Items Not Previously Presented to the Council:
1) Appropriation of $50,061 within the Storm Water Capital Fund for utility mapping and asset management. This is funded by a grant from the State of Washington, Department of Ecology ($25,000) and existing resources within the Utility Funds. This grant was originally budgeted within the operating budget. Those appropriations will be cancelled.
2) Appropriation of $10,000,000 for acquisition of parks. This will appropriate the proceeds of a Bond Anticipation Note (BAN) approved by the Council earlier this year. The proceeds of the BAN are drawn down as needed for acquisitions.
3) Appropriation of $1,000,000 for the purchase of the Dawley property (portion of LBA Woods acquisition). This appropriation is for the general government portion of the purchase. Funding is provided by $500,000 to be transferred from the General Fund and $500,000 of fund balance of the Capital Improvement Fund.
Neighborhood/Community Interests (if known):
None noted.
Options:
1) Approve ordinance amending Ordinance 7022.
2) Do not approve the amending ordinance or reallocation of budget. The budget items would not be authorized.
Financial Impact:
Total appropriation increase of $11,050,061. Funding for these appropriations noted above.
Attachments:
Ordinance