HomeMy WebLinkAbout6.m. Budget Assignments
EXECUTIVE SUMMARY
City Council Regular Meeting: February 21, 2017
AGENDA ITEM: Budget Assignments AGENDA SECTION:
Consent
PREPARED BY: Jeff May, Finance Director AGENDA NO. 6.m.
ATTACHMENTS: Resolution and 2016 Assignment Journal
Entries APPROVED BY: LJM
RECOMMENDED ACTION: Motion to adopt a Resolution Approving the Assignment of
Certain 2016 Budget Items to 2017.
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
The item for consideration is the approval of 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. In November 2011, the City Council
approved a revised Fund Balance Policy that reflected changes required by the Governmental Accounting
Standards Board (GASB). As 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” will be discussed with the City Council as has been done in the
past so the Council is aware of and okay 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
2016 forward to 2017.
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2017 -
A RESOLUTION APPROVING THE ASSIGNMENT OF
CERTAIN 2016 BUDGET ITEMS TO 2017
WHEREAS, the City Council recognizes the need to carry forward to 2017 certain
balances from the 2016 General Fund Operating Budget, the 2016 Building CIP Budget,
the 2016 Street CIP Budget and the 2016 Equipment CIP Budget, which are
summarized as follows:
(1) General Fund items that total an amount of $214,480.00;
(2) Building CIP items that total an amount of $1,070,000.00;
(3) Street CIP items that total an amount of $114,000;
(4) Equipment CIP items that total an amount of $301,900.00;
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 2016
budgets to 2017.
ADOPTED this 21st day of February, 2017.
_____________________________
William H. Droste, Mayor
ATTEST:
__________________________
Clarissa Hadler, City Clerk
2016 Assignment General Journal Entries
101-41810-01-391.00 480.00 Laserfiche Maintenance Costs
101-41810-01-392.00 7,000.00 Laserfiche Software Costs
101-41810-01-393.00 4,000.00 Laserfiche Hardware Costs
101-24438 11,480.00
To assign excess 2016 General Government funds for future Laserfiche expenses
101-41940-01-530.00 63,000.00 Government Buildings Long-Term Repair & Maintenance
101-24429 63,000.00
To assign excess 2016 funds not spent to help pay for future government building repair & maintenance costs
101-43100-01-404.02 10,000.00 Paint Loader
101-24439 10,000.00
To assign excess 2016 funds to paint loader
101-43121-01-402.00 30,000.00 Parking Lot Maintenance
101-24454 30,000.00
To assign excess 2016 funds not spent to help pay for future long-term parking lot maintenance costs
101-45202-01-530.00 100,000.00 Parks Maintenance Long-Term Repair & Maintenance
101-24430 100,000.00
To assign excess 2016 funds not spent for future Parks Maintenance long-term repair & maintenance costs
202-49002-01-531.00 750,000.00 Community Center Roof - City Share
202-24435 750,000.00
202-49002-01-532.00 55,000.00 Drain Tile - Bloomfield Park
202-24436 55,000.00
202-49002-01-533.00 265,000.00 Steeple Center Rehab
202-24441 265,000.00
To assign 2016 Building CIP funds forward to 2017 for delayed projects
203-49003-01-532.00 114,000.00 Pedestrian Improvements
203-24433 114,000.00
To assign 2016 Street CIP funds forward to 2017 for delayed projects
207-49007-01-540.00 195,900.00 Balance Due on Fire Department R-11 Rescue Truck
207-24463 195,900.00
207-49007-01-572.00 35,000.00 Replace SCBA Bottles
207-24464 35,000.00
207-49007-01-578.00 16,000.00 City Hall Surveillance Equipment
207-24465 16,000.00
207-49007-01-584.00 30,000.00 P.W. Equipment Underbody Wash
207-24466 30,000.00
207-49007-01-588.00 25,000.00 City Wide Software
207-24489 25,000.00
To assign 2016 Equipment CIP funds forward to 2017 for delayed purchases / projects
2015 Excess General Fund Assignment General Journal Entry
101-41110-01-598.00 296,000.00
101-24454 296,000.00 City Parking Lot
To assign excess 2015 General Funds forward for special costs / projects