HomeMy WebLinkAbout6.h. Approval of SKB Environmental Donation for Expenditure for the Rosemount Activity CenterROSEMOUNTEXECUTIVE SUMMARY
CITY COUNCIL
City Council Meeting: January 20, 2014
AGENDA ITEM: Approval of SKB Environmental
AGENDA SECTION:
Donation for Expenditure for the
Consent
Rosemount Activity Center
PREPARED BY: Kim Lindquist, Community Development
AGENDA NO. 6.f.
Director
ATTACHMENTS: Donation Worksheet
APPROVED BY: ddj
RECOMMENDED ACTION: Motion to approve the donation expenditure of $400,000 for
the costs of the second floor build -out at the Rosemount Activity Center
SUMMARY
The Rosemount Activity Center is currently under construction at the Steeple Center site. Due to funding
constraints, the City had discussed constructing the entire two -story building but not finishing off the
second floor. This would mean that the public would not have access to the second floor until later, when
additional investments would be made. SKB Environmental approached the City and indicated they would
be able to assist in funding this important new amenity in the community. SKB Environmental will be
donating $400,000 to be used for improvements at the Center to permit full construction of the entire
facility, including the second floor. The donation roughly equates to the amount of the project bid allocated
to second floor construction work. Per our policy, the Council must take formal action to accept the
donation and expend the funds. The donation acceptance occurred in December 2014.
RECOMMENDATION
Staff recommends the expenditure of $400,000 from the Building CIP Fund to defray costs for the second
floor build -out at the Rosemount Activity Center.
DONATION REVENUE WORKSHEET
RECEIPT OF DONATION
Donation Received On: December 16, 2014
Amount Received: $400,000
Purpose of Donation: Defray costs of second floor build -out, Rosemount Activity Center
Account # for Donation: Building CIP Fund number 202 -22225
(Must be Liability # Assigned for Each Individual Department)
EXPENDITURE OF DONATION
Amount to be Spent: $400,000.00
To be Spent from Account #: 202 - 49002 -01- 529.00
(Must be Expenditure # Corresponding to Individual Department)
Purpose of Expenditure: Defray costs of second floor build -out, Rosemount Activity
Center
AMENDMENT OF BUDGETS
Amend Donation Revenue Account #101- 36230.00: $400,000.00
Amend Expenditure Account #202 - 49002 -01- 529.00:$ 400,000.00
(The Two Dollar Amounts Must be the Same)
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Debit: 202 -22225 (Donation Liability #) $400,000.00
Credit: 101-36230.00 $400,000.00
Journal entry to reduce deferred donation revenue account and increase donation
revenue account to actual per City Council action on: January 20, 2015.