HomeMy WebLinkAbout6.e. Budget Assignments � RQSEMO�� EXECUTIVE SUMMARY
CITY COUNCIL
City Council Meeting Date: February 3, 2015
AGENDA ITEM: Budget Assignments AGENDA SECTION:
Consent
PREPARED BY: Jeff May, Finance Director AGENDA NO.
.e .
ATTACHMENTS: Resolution and 2014 Assignment Journal APPROVED BY:
Entries
RECOMMENDED ACTION: Motion to adopt a Resolution Approving the Assignment of
Certain 2014 Budget Items to 2015.
ISSUE
The issue befoYe 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 foY 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
jouxnal entry worksheet summarizes the Yeasons for the assignment requests. Back in November, 2011,
the City Council approved a revised Fund Balance Policy that reflected changes YequiYed 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 e�st 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 oY 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." rlssignments 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 progxams like the Government Buildings Repairs &Maintenance account and the Parks Maintenance
Repairs &Maintenance account; (2) items or pYOjects that are not completed in the previous year that
require the budgeted funding to be carried forward; and (3) upcoming one-time expendituYes 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
2014 forward to 2015.
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2015 -
A RESOLUTION APPROVING THE ASSIGNMENT OF
CERTAIN 2014 BUDGET ITEMS TO 2015
WHEREAS, the City Council recognizes the need to carry forward to 2015 certain
balances from the 2014 General Fund Operating Budget, the 2014 Building CIP
Budget, the 2014 Street CIP Budget and the 2014 Equipment CIP Budget, which are
summarized as follows:
(1) General Fund items that total an amount of $239,000.00;
(2) Building CIP items that total an amount of $2,054,000.00;
(2) Street CIP items that total an amount of $50,000.00;
(3) Equipment CIP items that total an amount of $83,000.00;
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 2014
budgets to 2015.
ADOPTED this 3rd day of February, 2015.
William H. Droste, Mayor
ATTEST:
Clarissa Hadler, City Clerk
2014 Assignment General Journal Entries
101-41110-01-598.00 41,000.00 Health Insurance Premiums
101-24405 41,000.00
To assign excess 2014 funds to replenish the balance assinged for health insurance premiums
101-42210-01-308.06 5,000.00 Fire Department-Outside Schools
101-24421 5,000.00
To assign excess 2014 funds not spent to help pay for special Fire Department training
101-43121-01-402.00 65,000.00 Parking Lot Maintenance
101-24454 65,000.00
To assign excess 2014 funds not spent to help pay for future parking lot maintenance costs
101-43121-01-403.03 13,000.00 Christmas Light Replacements
101-24424 13,000.00
To assign excess 2014 funds not spent to help pay for Christmas light replacement costs
101-45202-01-530.00 115,000.00 Parks Maintenance Long-Term Repair&Maintenance
101-24430 115,000.00
To assign excess 2014 funds not spent for future Parks Maintenance long-term repair&maintenance costs
202-49002-01-526.00 1,589,000.00 SKB Trust Fund-Future Projects
202-24425 1,589,000.00
202-49002-01-532.00 174,000.00 Council Chambers Equipment Upgrades
202-24428 174,000.00
202-49002-01-534.00 60,000.00 Landscaping at Steeple Center
202-24427 60,000.00
202-49002-01-535.00 97,000.00 HVAC at Steeple Center
202-24426 97,000.00
202-49002-01-536.00 41,000.00 Senior Exercise Equipment
202-24437 41,000.00
202-49002-01-537.00 41,000.00 Neighborhood Amenities
202-24438 41,000.00
202-49002-01-538.00 22,000.00 Jaycee Park Batting Cage
202-24439 22,000.00
202-49002-01-539.00 30,000.00 Shade Canopies for Dugouts
202-24440 30,000.00
To assign 2014 Building CIP funds forvvard to 2015 for delayed purchases/projects
203-49003-01-532.00 50,000.00 Pedestrian Improvements
203-24433 50,000.00
To assign 2014 Street CIP funds forvvard to 2015 for delayed purchases/projects
207-49007-01-551.00 55,000.00 4x4 Brush Truck Replacement
207-24483 55,000.00
207-49007-01-579.00 3,000.00 Hose Testers
207-24484 3,000.00
207-49007-01-588.00 25,000.00 City Wide Software
207-24489 25,000.00
To assign 2014 Equipment CIP funds forward to 2015 for delayed purchases/projects