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Home My WebLink About4.f. Expenditure Approval From Donation Account - Parks and Recreation • CITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION CITY COUNCIL MEETING DATE: FEBRUARY 20, 1996 AGENDA ITEM: Expenditure Approval from Donation Account - AGENDA SECTION: Consent Parks and Recreation. PREPARED BY: Jim Topitzhofer, Parks and Recreation and AGENDA NO. Community Center Director. ITEM #4 F ATTACHMENTS: Donation Revenue Worksheet. APPROVED BY: First State Bank of Rosemount has graciously donated funds for the Community Center in the amount of $4,933.65. The purpose of the donation was to purchase a secondary scoreboard for the Arena and the associated electrical installation costs. The total purchase price of the scoreboard was $4,274.65. The electrical costs were $659.00. RECOMMENDED ACTION: MOTION TO APPROVE THE EXPENDITURE OF $4,274.65 FOR PURCHASE OF ARENA SCOREBOARD AND THE EXPENDITURE OF $659.00 FOR THE ASSOCIATED ELECTRICAL COSTS AND TO APPROVE AMENDMENTS TO THE BUDGETS AS INDICATED ON THE ATTACHED DONATION REVENUE WORKSHEETS. COUNCIL ACTION: • DONATION REVENUE WORKSHEET RECEIPT OF DONATION Donation Received on: February 5, 1996 Amount Received: $4,933.65 Receipt # for Donation: Purpose of Donation: Purchase of Arena Scoreboard & Electrical Account # for Donation: 101-22226 (Must be Liability # assigned for each individual Department.) EXPENDITURE OF DONATION Amount to be Spent: $4,933.65 To be Spent from Acct #: 101-45100-01-439 (Must be Expenditure# corresponding to individual Department.) Purpose of Expenditure: Purchase of Arena Scoreboard & Electrical AMENDMENT OF BUDGETS Amend Donation Revenue Acct #101-36230-00-000: $4,933.65 Amend Expenditure Acct #101-45100-01-439 $4,933.65 (The two dollar amounts should be the same.) GENERAL JOURNAL ENTRY TO ADJUST DONATION LIABILITY # Debit: 101-45100-01-439 (Donation Liability #) $4,933.65 Credit: 101-36230-00-000 $4,933.65 Credit: 101-29300 $4,933.65 Journal entry to reduce deferred donation revenue and increase donation revenue to actual per council action on 2/20/96