Resolution - #07-08-185 - 08/14/2007

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Councilmember Elvig introduced the following resolution and moved for its adoption: RESOLUTION #07-08-185 RESOLUTION AUTHORIZING 2007 MIDYEAR BUDGET AMENDMENT FOR THE PURPOSE OF AMENDING THE CITY'S GENERAL FUND BUDGET WHEREAS, during the year 2007, the Ramsey City Council acted on matters impacting revenue and expenditures budgets of the City's General fund for items that were not included in the original budget for December 31, 2007; and WHEREAS, for financial reporting purposes, amendments to the City's General Fund Budget are to be made in the form of a Budget Amendment Resolution; and WHEREAS, due to a significant decrease in budgeted building perinit revenue, the City needed to amend their General Fund Expenditures to offset this reduction. WHEREAS, the total amount of General Fund Revenues increased by $416,500 for this midyear amendment; and WHEREAS, the total amount of General Fund Expenditures decreased for this midyear amendment in the amount of $225,050; and WHEREAS, the total amended amount of revenues and expenditures totals $641,550; and WHEREAS, $47,544 needs to be transferred from the Lawful Gambling Fund to the General Fund for program services. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the 2007 General Fund Budget will be amended in the total amount of $641,550 with revenues being increased by $416,500 and expenditures being decreased by $225,050 2) A transfer in the amount of $47,544 from the Lawful Gambling Fund to the General Fund to offset the costs of Youth First, Community School Programming and the Juvenile Diversion program. The motion for adoption of the foregoing resolution was duly seconded by Councilmember Jeffrey, and upon vote being taken thereon, the following voted in favor thereof: Mayor Gamec Councilmember Elvig Councilmember Jeffrey. Councilmember Dehen Councilmember Look