HomeMy WebLinkAbout4.v. Expenditures from Donation Revenuesa
EXECCITY OF ROSEMOUNT
IVE SUHKARY FOR ACTION
CITY COUNCIL MEETING DATE: July 21, 1992
AGENDA ITEM:
AGENDA SECTION:
Approve Expenditures from
Donation Revenues
Consent
PREPARED BY:
Jeff May, Finance Director
worksheet.
AGEND4
M # 4-V
ATTACffiKENTS: Donation Revenue
Worksheet
MPOBY:
According to our Donation Policy(F-2),-Council must authorize
expenditures of monies received through donations to the City.
We have received $100 from the Rosemount VFW to help fund the
Leprechaun Days activities. This money was put into a deferred
revenue account when received.
Now, as part of our policy, we are asking Council approval to
make expenditures totalling no more than $100 for activities
related to the Leprechaun Days events and to amend both the
Donation Revenue account and the applicable Expenditure account
as noted on the attacked Donation Revenue worksheet. Rather than
approving each `individual expenditure as it is made, we are
asking that Council approve the total dollar amount received from
the VFW to be spent on the various activities. We have done this
in thepastwith no problems whatsoever.
RECOMONDED ACTION:
Motion to approve expenditures
totalling $100 for Leprechaun Days
:activities and to approve.,
amendments to the budgets as given on the
attached Donation Revenue
worksheet.
COUNCIL ACTION:
DONATION REVENUE WORKSHEET
RECEIPT OF DONATION
Donation Received on: 7-16-92
Amount Received: $ 100.00
Receipt # for Donation: 30486
',; Leprechaun Days Activities
Purpose of Donation'
Account # for Donation: 101-22223
(Must be Liability '# assigned for each individual Department)
EXPENDITURE OF DONATION
Amount to be Spent: $
100.00
To be Spent from Acct #: 101-45100-01-208
(Must be Expenditure # corresponding to individual Department)
Purpose of Expenditure • Leprechaun Days Activities
AMENDMENT OF BUDGETS
Amend Donation Revenue Acct #101-36230-00-000: $ 100.00
Amend Expenditure Acct # 101-45100-01-208 $ 100.00
(The two dollar amounts should be the same)
GENERAL JOURNAL ENTRY TO ADJUST DONATION LIABILITY #
Debit: 101-22223, (Donation Liability #) $ 1.00.00
Credit: 10136230-00-000 $ 100.00
Credit: 101+29300 $ 100.00
Journal entry to reduce deferred donation revenue and increase
donation revenue to actual per council action on 7-21-92