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  Item #   4. A. 9.    
City Council
Meeting Date: 03/11/2019  
Submitted For: Warren Porter Submitted By: Nagesh Chopra, Finance

Information
Item
Approval of Supplemental Appropriation for the General Fund for Right of Way True Up.
Background
We are required to annually "true up" General Fund revenues for transfer to Police and Fire funds. After closing of the City Financial Reports for the previous year, a calculation and additional transfer of funds is made to the Police and Fire funds. We had an increase in revenues in FY 18 and an additional payment was required. Additionally, a portion of the additional payments requires additional right of way fees from the applicable utilities to the General Fund. A majority of the increase is from the increase of Sales Tax and Use Tax above the budget estimate.
Time Frame
Upon City Council approval.
Issue
Supplemental appropriation is needed to meet the requirement for additional revenues to be transferred to the Police and Fire funds.
Recommendations
Staff recommends approval.
Action Needed
Council approval of the supplemental appropriation request.
Public Notification
Posted City Council Agenda.

Fiscal Impact
Funding/Cost: $1,709,105
Budgeted Item Y/N or N/A: N
Account:
The Funding Cost is $1,709,105 (total increase in additional transfer to Police/Fire Fund)

General Fund Reserves
To: Transfer to Fire Fund 001002-8812 $17,621,200
To: Transfer to Police Fund 001002-8813 $21,615,335

Electric Reserves
To: Electric ROW Fees 562032-8364 $3,705,752

Water Reserves
To: Water ROW Fees 563332-8364 $1,335,622

Wastewater Reserves
To: Wastewater ROW Fees 565352-8364 $770,156
Attachments
No file(s) attached.

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