HomeMy WebLinkAbout~Master - FY 2018/19 and FY 2019/20 Transfers Between Funds RESOLUTION NO. 19-270
RESOLUTION APPROVING FY 2018/19 AND FY 2019/20
TRANSFERS BETWEEN FUNDS
FOR THE CITY OF AMES, IOWA
WHEREAS, a recent change to the Iowa Administrative Code requires the City Council
approval for transfer between City funds; and,
WHEREAS,the City Council has always approved transfers as part of the budget approval
process,the new Code section requires that more detailed information about the transfers be included
in the schedule that is approved by City Council, and that the approved transfer amount no be
exceeded without further Council approval; and,
WHEREAS, the detailed transfer schedule will be included in the draft budget for FY
2020/21 and be approved as part of the normal budget process; and,
WHEREAS, a summary for both FY 2018/19 and FY 2019/20 lists the transfers that are
budgeted to be made from each fund,the fund where the transfer will be directed,and the reason for
the transfer.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that FY 2018/19 budget transfers of$23,488,878 and FY 2019/20 budgeted transfers of$23,371,112,
as shown in the attached summary, are hereby approved.
ADOPTED THIS 28`h day of May, 2019.
Diane-7-Voss, City Clerk John A. I laila, Mayor
Introduced by: Gartin
Seconded by: Corrieri
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Martin, Nelson
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 28`h day of May, 2019.
i
2018/19 Final Amended Budget Transfer Detail
Amount
of Transfer
Funding Sources:
General Fund:
-to Hotel/Motel Tax Fund 2,450,000 Hotel/Motel Tax receipts
-to Airport Construction Fund 57,031 Airport Operations net revenue
-to Transit Operations Fund 1,907,085 Transit Levy receipts
-to Resource Recovery Fund 522,533 City of Ames per capita payment
-to Debt Service Fund 70,982 Debt service for Airport terminal building
Total General Fund Transfers 5,007,631
Road Use Tax Fund:
-to Fleet Reserve Fund 10,490 Public Works share of Fleet Maintenance CIP
Local Option Sales Tax;
-to General Fund 4,758,540 Property tax relief
-to Park Development Fund 100,000 Park development annual funding
-to Ice Arena Capital Reserve Fund 20,000 City contribution to capiatl reserve
Total Local Option Sales Tax Transfers 4,878,540
Hotel/Motel Tax:
-to General Fund 210,000 HIM share of property tax relief
-to Local Option Sales Tax Fund 140,000 HIM share of Community Betterment
Total Hotel/Motel Tax Transfers 350,000
Employee Benefit Property Tax:
-to General Fund 2,152,498 Tax collected forPolice/Fire benefits
Police/Fire Retirement Trust:
-to General Fund 38,000 Use of fund balance for Police/Fire benefits
Library Friends Foundation:
-to Library Donations/Grants Fund 36,000 Project Smy/es support
TIF/South Bell.-
-to Debt Service Fund 114,841 Debt service for South Bell TIF project
TIF/ISU Research Park:
-to Debt Service Fund 304,700 Debt service for ISU Research Park TIF project
Special Assessments:
-to Debt Service Fund 490,869 Debt service on projects with special assessments
Water Utility Fund:
to Water Sinking Fund 4,208,932 Water Utility SRF loan debt service
to Debt Service Fund 440,224 Water Utility G.O. Bond debt service
to Fleet Services Reserve Fund 10,490 Public Works share of Fleet Maintenance CIP
Total Water Utility Fund Transfers 4,659,646
2018/19 Final Amended Budget Transfer Detail (continued)
Sewer Utility Fund.
to Debt Service Fund 387,855 Sewer Utility G.O. Bond debt service
to Sewer Sinking Fund 344,287 Sewer Utility SRF loan debt service
to Fleet Services Reserve Fund 10,490 Public Works share of Fleet Maintenance CIP
Total Sewer Utility Fund Transfers 742,632
Electric Utility Fund:
to General Fund 2,200,537 In-Lieu-of-Property Tax payment
to Electric Sinking Fund 964,619 Electric Utility revenue bond debt service
Total Electric Utility Fund Transfers 3,165,156
Parking Operations:
-to Parking Reserve Fund 335,983 Excess Parking Operations Fund balance transfer
Transit Operations:
-to Transit Capital Reserve Fund 800,000 Annual Transit Operations capital funding
Transit Student Govt Trust.
-to Transit Operations Fund 235,904 Additional share of Transit operations funded by
ISU Student Government
Resource Recovery.-
-to Debt Service Fund 165,988 Resource Recovery G.O. Bond debt service
Total Transfers 23,488.878
2019/20 Adopted Budget Transfer Detail
Amount
of Transfer
Funding Sources:
General Fund:
-to Hotel/Motel Tax Fund 2,450,000 Hotel/Motel Tax receipts
-to Airport Construction Fund 41,043 Airport Operations net revenue
-to Transit Operations Fund 1,994,811 Transit Levy receipts
-to Resource Recovery Fund 522,533 City of Ames per capita payment
-to Debt Service Fund 70,979 Debt service for Airport terminal
Total General Fund Transfers 5,079,366
Road Use Tax Fund:
-to Fleet Reserve Fund 25,000 Public Works Share of Fleet Maintenance CIP
Local Option Sales Tax,-
to General Fund 4,901,296 Property tax relief
to Park Development Fund 100,000 Park development annual funding
-to Ice Arena Capital Reserve Fund 20,000 City contribution to capital reserve
Total Local Option Sales Tax Transfers 5,021,296
Hotel/Motel Tax.-
to General Fund 210,000 HIM share of Local Option property tax relief
to Local Option Sales Tax Fund 140,000 HIM share of Community Betterment
Total Hotel/Motel Tax Transfers 350,000
Employee Benefit Property Tax.-
-to General Fund 2,159,434 Tax collected forPolice/Fire benefits
Library Friends Foundation.
-to Library Donations/Grants Fund 30,000 Project Smyles support
TIF/South Bella
-to Debt Service Fund 110,837 Debt service for South Bell TIF project
TIF/ISU Research Park:
-to Debt Service Fund 303,700 Debt service for ISU Research Park TIF project
TIF/John Deere.
-to Debt Service Fund 32,038 Debt service for John Deere TIF project
Special Assessments:
-to Debt Service Fund 321,415 Debt service on projects with special assessments
Water Utility Fund:
to Water Sinking Fund 4,216,247 Water Utility SRF loan debt service
-to Debt Service Fund 385.377 Water Utility G.O. Bond debt service
to Fleet Services Reserve Fund 25,000 Public Works Share of Fleet Maintenance CIP
Total Water Utility Fund Transfers 4,626,624
2019/20 Adopted Budget Transfer Detail (continued)
Sewer Utility Fund.
-to Debt Service Fund 386.452 Sewer Utility G.O. Bond debt service
-to Sewer Sinking Fund 827,882 Sewer Utility SRF loan debt service
-to Fleet Services Reserve Fund 25,000 Public Works Share of Fleet Maintenance C/P
Total Sewer Utility Fund Transfers 1,239,334
Electric Utility Fund.
-to General Fund 2,143,240 In-Lieu-of-Property Tax payment
-to Electric Sinking Fund 965,640 Electric Utility revenue bond debt service
Total Electric Utility Fund Transfers 3,108,880
Transit Operations:
-to Transit Capital Reserve Fund 800,000 Annual Transit capital funding
Resource Recovery:
-to Debt Service Fund 163,188 Resource Recovery G.O. Bond debt service
Total Transfers 23,371,112