HomeMy WebLinkAbout6.d. Budget Assignments
EXECUTIVE SUMMARY
City Council Meeting Date: February 16, 2016
AGENDA ITEM: Budget Assignments AGENDA SECTION:
Consent
PREPARED BY: Jeff May, Finance Director AGENDA NO. 6.d.
ATTACHMENTS: Resolution and 2015 Assignment Journal
Entries APPROVED BY: ddj
RECOMMENDED ACTION: Motion to adopt a Resolution Approving the Assignment of
Certain 2015 Budget Items to 2016.
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 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
2015 forward to 2016.
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2016 -
A RESOLUTION APPROVING THE ASSIGNMENT OF
CERTAIN 2015 BUDGET ITEMS TO 2016
WHEREAS, the City Council recognizes the need to carry forward to 2016 certain
balances from the 2015 General Fund Operating Budget and the 2015 Equipment CIP
Budget, which are summarized as follows:
(1) General Fund items that total an amount of $213,200.00;
(23) Equipment CIP items that total an amount of $71,000.00;
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 2015
budgets to 2016.
ADOPTED this 16th day of February, 2016.
_____________________________
William H. Droste, Mayor
ATTEST:
__________________________
Clarissa Hadler, City Clerk
2015 Assignment General Journal Entries
101-41810-01-304.00 20,000.00 Legal Fees
101-24440 20,000.00
To assign excess 2015 General Government funds for future legal expenses
101-43100-01-394.03 1,200.00 Fleet Maintenance Laptop
101-24441 1,200.00
To assign excess 2015 funds for purchase of Mechanics laptop
101-43121-01-402.00 55,000.00 Parking Lot Maintenance
101-24454 55,000.00
To assign excess 2015 funds not spent to help pay for future parking lot maintenance costs
101-45202-01-530.00 137,000.00 Parks Maintenance Long-Term Repair & Maintenance
101-24430 137,000.00
To assign excess 2015 funds not spent for future Parks Maintenance long-term repair & maintenance costs
207-49007-01-580.00 10,000.00 Body Cameras
207-24467 10,000.00
207-49007-01-588.00 25,000.00 City Wide Software
207-24489 25,000.00
207-49007-01-589.00 20,000.00 Phone Server Replacement
207-24490 20,000.00
207-49007-01-591.00 16,000.00 Plotter/Scanner Replacement
207-24491 16,000.00
To assign 2015 Equipment CIP funds forward to 2016 for delayed purchases / projects