HomeMy WebLinkAbout6.i. Budget Amendments
EXECUTIVE SUMMARY
City Council Meeting Date: December 15, 2020
AGENDA ITEM: Budget Amendments AGENDA SECTION:
Consent
PREPARED BY: Jeff May, Finance Director AGENDA NO. 6.i.
ATTACHMENTS: Council Memo, Resolution, Donation
Worksheets & Supporting Documents APPROVED BY: LJM
RECOMMENDED ACTION: Motion to adopt A Resolution Approving the Amendment of
Certain 2020 Budget Items.
BACKGROUND
This item is on the agenda for Council to formally amend the 2020 General Fund budget by resolution for
donation items that Council had previously authorized covering expenditures made during the third and
fourth quarters of 2020 and for the additional revenues received the CARES program from the Federal
government.
The requested action amends the General Fund budget to reflect donations expended during the 3rd and
4th quarters of 2020 and to the General Fund budget to acknowledge the receipt of $1,833,933 of CARES
money from the Federal government to assist with the COVID-19 pandemic. These funds have been
used for related expenditures and grants to local businesses and will be used for future projects, as
discussed during the 2021 Budget process.
Rather than bringing a resolution before the Council each time there is a need to spend money from
donations previously received, we have developed procedures that allow us to have you authorize the
expenditure and amend the budgets at the time the expenditure is made and then periodically bring to you
a resolution that formally amends the budgets for a number of these donation expenditures. The attached
memo and donation worksheets support the figures given in the resolution.
RECOMMENDATION
Staff recommends the Council approve the above motion to approve the budget amendments for the 3rd
and 4th quarters of 2020 and the receipt of the Federal government CARES money.
MEMORANDUM
To: Mayor Droste
Council Members Block, Essler, Freske & Weisensel
From: Jeff May, Finance Director
Date: December 11, 2020
Subject: Budget Amendments
This is a request to amend both the revenue and expenditure budgets for the General Fund for
expenditures of donations previously received. The General Fund will also have amendments to
allocate funds received from our CARES payment received earlier this year to acknowledge an
additional $1,833,933 that was received as part of the COVID-19 aid package disbursed by the
Federal government. These funds will be used for expenditures incurred this year for COVID type
supplies and other items needed to continue to operate during the pandemic. Some of the funds
were used for business assistance grants to help businesses in our community. Some of the funds
will be used for future projects. This memo is to show the line by line detail of the actual changes
to be made to the budgets, of which the totals are summarized in the Resolution before you.
GENERAL FUND DETAIL
Detail for Revenues:
101-36230.00 (Donations) $ 5,250.00
101-33100.00 (Federal Grants) 1,833,933.00
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Total Revenues $1,839,183.00
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Detail for Expenditures:
101-41110-01-598.00 (Council Designated) $ 54,933.00
101-41810-01-440.00 (COVID-19 Expenses) 220,000.00
101-41810-01-441.00 (COVID-19 Grant Payments) 484,000.00
101-41940-01-530.00 (L/T Building Maintenance) 450,000.00
101-42110-01-208.02 (Equipment Donations/Forfeitures) 5,250.00
101-43121-01-402.00 (Parking Lot Maintenance) 175,000.00
101-45202-01-530.00 (L/T Parks Maintenance) 450,000.00
-----------------
Total Expenditures $1,839,183.00
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CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2020 -
A RESOLUTION APPROVING THE AMENDMENT OF
CERTAIN 2020 BUDGET ITEMS
WHEREAS, the City Council recognizes the need to amend certain items from the 2020 General
Fund Operating Budget, the totals which are as follows:
(1) General operating revenues, the total which reflects an increase of $1,839,183.00;
(2) General operating expenditures, the total which reflects an increase of $1,839,183.00;
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Rosemount
hereby approves the amendment of the above listed budget items for the 2020 General Fund
Operating Budget.
ADOPTED this 15th day of December, 2020.
_____________________________
William H. Droste, Mayor
ATTEST:
__________________________
Erin Fasbender, City Clerk