HomeMy WebLinkAbout6.e. Budget Assignments 4 ROSEMOUNT EXECUTIVE SUMMARY
CITY COUNCIL
City Council Meeting Date: February 3, 2014
AGENDA ITEM: Budget Assignments AGENDA SECTION:
Consent
PREPARED BY: Jeff May, Finance Director AGENDA NO. A
ATTACHMENTS: Resolution and 2013 Assignment Journal APPROVED BY:
Entries DbJ
RECOMMENDED ACTION: Motion to adopt a Resolution Approving the Assignment of
Certain 2013 Budget Items to 2014.
ISSUE
The issue before the City Council is the annual assignment of General Fund and CIP Funds items forward
from the prior year to the current year.
BACKGROUND
This item is on the agenda for consideration of the approval of the proposed assignment items for the
General Fund, the Building CIP Fund, the Street CIP Fund and the Equipment CIP Fund. The attached
journal entry worksheet summarizes the reasons for the assignment requests. Back in November, 2011,
the City Council approved a revised Fund Balance Policy that reflected changes required by the
Governmental Accounting Standards Board (GASB). As I stated in the November 15, 2011, Executive
Summary: "The only real difference is how we will treat encumbrances. Encumbrances as the Council has
known them in the past will not exist anymore. By the use of"assignments"we will still be able to
dedicate funds to purposes like we have done in the past. Assignments will be handled by the City
Administrator or Finance Director. Anything that is "assigned / encumbered"like in the past with
encumbrances will be discussed with the City Council as has been done in the past so the Council is aware
of and o.k. with the assignments." Assignments are typically made for items unspent in one year that can
be carried forward ("assigned") to future years. Examples of items that have assignments are: (1) multi-
year programs like the Government Buildings Repairs &Maintenance account and the Parks Maintenance
Repairs &Maintenance account; (2) items or projects that are not completed in the previous year that
require the budgeted funding to be carried forward;and (3) upcoming one-time expenditures to be made
with unused funds from the previous years.
SUMMARY
Staff is recommending that the City Council adopt the attached resolution assigning the listed items from
2013 forward to 2014.
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2014 -
A RESOLUTION APPROVING THE ASSIGNMENT OF
CERTAIN 2013 BUDGET ITEMS TO 2014
WHEREAS, the City Council recognizes the need to carry forward to 2014 certain
balances from the 2013 General Fund Operating Budget, the 2013 Building CIP
Budget, the 2013 Street CIP Budget and the 2013 Equipment CIP Budget, which are
summarized as follows:
(1) General Fund items that total an amount of$45,600.00;
(2) Building CIP items that total an amount of$14,000.00;
(2) Street CIP items that total an amount of$121,000.00;
(3) Equipment CIP items that total an amount of$115,000.00;
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Rosemount
hereby approves the assignment of the above listed account items from the 2013
budgets to 2014.
ADOPTED this 3rd day of February, 2014.
William H. Droste, Mayor
ATTEST:
Amy Domeier, City Clerk
2013 Assignment General Journal Entries
101-41110-01-225.00 5,600.00 Waste Connections(SKB)Landscaping Program
101-24420 5,600.00
To assign excess 2013 funds not spent from the Waste Connections payment
101-43121-01-402.00 25,000.00 Parking Lot Maintenance
101-24454 25,000.00
To assign excess 2013 funds not spent to help pay for future parking lot maintenance costs
101-45202-01-409.06 15,000.00 Non-Recurring Athletic Field Costs
101-24460 15,000.00
To assign excess 2013 funds not spent for future non-recurring athletic field costs
202-49002-01-528.00 14,000.00 Erickon Park Shelter Improvements
202-24436 14,000.00
To assign 2013 Building CIP funds forward to 2014 for delayed purchases/projects
203-49003-01-532.00 121,000.00 Pedestrian Improvements
203-24433 121,000.00
To assign 2013 Street CIP funds forward to 2014 for delayed purchases/projects
207-49007-01-580.00 45,000.00 SCBA Compressor-Fire
207-24495 45,000.00
207-49007-01-584.00 20,000.00 Replace Video Equipment in Squads
207-24486 20,000.00
207-49007-01-588.00 50,000.00 City Wide Software
207-24489 50,000.00
To assign 2013 Equipment CIP funds forward to 2014 for delayed purchases/projects