HomeMy WebLinkAboutRESOLUTION NO. 2006-21 RESOLUTION NO.
RESOLUTION AMENDING THE CURRENT BUDGET
FOR FISCAL YEAR ENDING TUNE 0, 2006
WHEREAS, The Council, after hearing all taxpayers wishing to be heard and
considering the statements made by them, gave final consideration to the proposed
amendment to the budget and modifications proposed at the hearing.
BE IT RESOLVED by the City Council of the City of Fairfax, Iowa:
Section 1. Following notice published on April 20, 2006 and the Public
Hearing held on May 9, 2006 the current budget(as previously
amended) is amended as set out herein and in the detail by fund
type and activity that supports this resolution which was considered
at the hearing.
Section 2. The City Clerk is directed to submit these forms to
the Lim County Auditor on or before May 31, 2006,
NOW, THEREFORE, BE IT FURTHER RESOLVED,by the City Council of
Fairfax, Iowa,that the Mayor and the City Clerk are hereby authorized and directed to
execute said Resolution.
Passed and approved this '. day of '� e` `* , 2006.
AYES:
NAYS:
ABSENT:
Bill Voss, Mayor
Y
ATTEST , .
Connie Frame, City Clerk
The foregoing Resolution Na. having been approved this date by the Fairfax
City Council, I hereby approve the same by affixing my signature as City Clerk on this
''r�
_day of afi: _5 2006.
Connie Frame, City Clerk
Nav-O+V'
NOTICE OF PUBLIC HEARING
Facetas3..iGt AMENDMENT OF CURRENT CITY BUDGET
The City Council of Fairfax in LINN
will meet at Fairfax City Hall
at 7:00 PM on May 9th,2006
(huo (Dale)
,for the(purpose of amending the current budget of the city for the fiscal year ending June 30, 2006
rvean
by changing estimates of revenue and expenditure appropriations in the following functions for the reasons given.
Additional detail is available at the city clerk's office showing revenues and expenditures by fund type and by activity.
Total Budget Total Budget
as certified Current after Current
or last amended Amendment Amendment
Revenuer.8 Daher Financin Sources = ,,:,:;:.,:„:,>:::;::.::::::>:;:::>:-:<:;;:::::
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Taxes ILavied on Property 1 s.._............::`285,245 ..........:..:............:..,V :::285,245
Less:Uiincolliectted Property Taxes-Levy Year 2 0
Not Current Prop"Taxes 3 285,245 Oil 285,245
Delinquent Property Taxes 4 0
TIF Revenues 5 230,227 230,227
Other City Taxes s 72,758 86,000 158,758
Licenses s Pemnts d 15,000 15,000
Use of Money and Property 8 5,912 3,7848 9,700
Intergovernmental s 194,518 54,651 249,169
Charges'ior&ervlces 10 408,747 408,747
Special Assessments 11 0
Miscellaneous 12 2,000 13,000 15,000
Other Financing Sources 13 410,986 764,156 1,175,142
TotalRevenues and Other Sources 1.4 1,625,393 921,595 2,546,988
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a a ..�.,:
Expenditures&Other Fi n nein Uses
Public Safety 1s 156,929 6,0001 162,929
PublicWarks 15 245,287 30,000 275,287
Health and Social Services 17 0
CuHureand Recreation 18 153,975 110,000 263,975
Communr"tyand Economic Develo meet 1s 21,036 10,000 31,036
General Government 21) 194,659 194,659
Debt Service 21 274,240 14,672, 288,912
Capital(Protects 22 0
Total GovemmantActivities Expenditures 23 1,046,126 170,672, 1,216,798
Business Type J Enterprises 24 482,335 369,369 851,704
Tatat Glov Activities&Business Expenditures 25 1,528,461 540,041 2,068,502
Transfers Out 28 410,986 764,156 1,175,142
Total Expendlturesrrransfers Out 27 1,939,447 1,304,197 3,243,644
Excess Revenues&OtherSourcest]ver _
(Under)Expenditures/Transfers Out Fiscal Year 28 -314,054 382,602 696,656
Continuing Appropriation 29 NIA 0
Beginning Fund Balance July 1 30 792,489 792,489
Endingi Fund Balance June 30 31 478,435 -382,602 95,833
Explanation of increases or decreases in revenue estilmates,appropriations,or available cash:
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:.,.............:vn':�::::::::::::::r.f:.::v:•.:v.v:::::.::::•.•:r.•::J:::,v, $ti.ti'n.:...:.`:*:'.:..i.::.J:..::...........:::'::::.�:::'t:�:::';:':.:...............se.»....i»'..n.:n.:::::.�:::.�:::.�: ...i:•
Unexpected expenditures/purchases.
There will be no increase in tax levies to be paid in the current fiscal year named above. Any increase in
expenditures set out above will be met from the increased non-property tax revenues and cash balances not
budgeted or considered in this current budget. Thils will provide for a balanced budget.
Nancy Flickinger
City Clerlcl Finance Officer Name
EXPLANATION OF 2005-2006 BUDGET AMENDMENT
REVENUE INCREASE
Line 6, Other City Taxes - $86,000 - Local Option Sales Tax Revenue
Line 8. Use of Money- $3,788 -Interest revenue due to bond money
Line 9. Intergovernmental-$54,651 -Road Use Tax money due to census
Line 12. Miscellaneous $13,000-Building permits,newsletter,miscellaneous revenue
Line 13. Other Financing Sources - $764,156 - $650,00 Bond& other transfers in
EXPENDITURE INCREASE/DECREASE
Line 15. Public Safety - $6,000 -Fire Department Savings.
Line 16. Public Works - $30,000-Road Use Tax due to increase of revenue
Line 18. Culture &Recreation- $110,000 -Park purchase, legal,prevention!
Line 19. CommunitvDevellopment - $10,000 -Visioning
Line 21. Debt Service - $14,,672 - $650,000 bond interest/principal
Line 24. Business Type/Enterprises (total increase $369,369) as follows:
Water& Trust &Agency- $10,000 - Refund of deposits
Sewer- minus $66,631 (Previously budgeted to spend
WWTF - $426,000
Line 26, Transfers Out- $764,156- $650,000 Bond&miscellaneous transfers out