Resolution - #16-03-043 - 03/08/2016

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Councilmember Kuzma introduced the following resolution and moved for its adoption: RESOLUTION #16-03-043 RESOLUTION AUTHORIZING 2015 FINAL BUDGET AMENDMENT FOR THE PURPOSE OF AMENDING THE CITY'S GENERAL FUND BUDGET WHEREAS, during the year 2015, 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, 2015; 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, the following budget amendments are in addition to those previously adopted and are required to reflect actual activity for the year ended December 31, 2015; GENERAL FUND #101 To amend revenue activities based on budget amendments made by Council action during 2015 and actual moneys received over (under) budget from $10,423,759 to $10,083,743 for a total net increase of $333,608: Taxes $ 35,301 Licenses and Permits 367,822 Intergovernmental Revenues 52,113 Changes for Services 280,903 Fines and Penalties (10,764) Miscellaneous Revenues 16,026 Interest Earnings 16,953 Transfers in From Other Funds (71,759) Net Increase in General Fund Budgeted Revenues $ 686,595 To amend expenditure activities based on actual moneys spent over (under) budget for the 2015 calendar year. This amendment incorporates budget amendments made by Council action during 2015 and also calculating in the estimated excess revenue over expenditures for 2015 which are transferred per policy. This amendment will amend expenditure activities from $10,423,759 to $10,943,247 for a net increase of $519,488. General Government $ (89,768) Public Safety (156,211) Public Works (421,703) Parks and Recreation 79,646 Contingency (74,778) Transfers to Other Funds -Excess Revenue Transfer 1,182,302 Net Increase in General Fund Budgeted Expenditures $ 519,488