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Home My WebLink AboutRESOLUTION NO. 2015-14 RESOLUTION NO. 2015-14 RESOLUTION AMENDING THE CURRENT BUDGET FOR FISCAL YEAR ENDING JUNE 30, 2015 WHEREAS, the Fairfax City Council published the required notice concerning the proposed amendment to the current budget for the fiscal year ending June 30, 2015, on February 26, 2015; and WHEREAS, the Fairfax City Council held a public hearing concerning the proposed amendment to the current budget for the fiscal year ending June 30, 2015, on March 10, 2015; and WHEREAS, the Fairfax City 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. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Fairfax, Iowa that the current budget is amended as set out in the attached paperwork; and BE IT FURTHER RESOLVED, by the City Council of the City of Fairfax, Iowa, that the Mayor and City Clerk/Treasurer are hereby authorized and directed to execute this resolution; and BE IT FURTHER RESOLVED, by the City Council of the City of Fairfax, Iowa, that the City Clerk/Treasurer is hereby directed to submit this budget amendment to the Linn County Auditor. Passed and approved this 10th day of March 2015. AYES: Beer, Frieden, Otto, Magers, and Wainwright NAYS: Nays Jason Rabe, ayor ATTEST: � `` '• °:te: Cy hia Stimson, City Clerk/Treasurer .p ¢ W t� Received STATE OF IOWA MAR 1 , "2CE5 Counties of Linn and Johnson ss. `` NOTICE OF PUBLIC HEARING AMENDMENT OF CURRENT CITY BUDGET Linn County Auditor Form 653.C1 -.- The City Council of Fairfax in UNN County,Iowa will meet at 525 Vanderbilt Street,Fairfax,Iowa at 7:00 PM on March 10,2015 (hour) (Date) ,for the purpose of amending the current budget of the city for the fiscal year ending June 30, 2015 (year) Io state that I am the publisher THE by changing estimates of revenue and expenditure appropriations in the following programs for the reasons given.Additional detail is available at the city clerk's office showing revenues and expenditures by fund type Newspaper of general circulation in and by activity. runties, in Iowa. The notice, a printed Total Budget Total Budget :ached, was inserted and published in as certified Current after Current wspaper in the issue(s) February 26, or last amended Amendment Amendment Revenues&Other Financing Sources - - Taxes Levied on Property 1 579,901 0 579,901 Less:Uncollected Property Taxes-Levy Year 2 0 0 0 Net Current Property Taxes 3 579,901 0 579,901 r publishing said notice is Delinquent Property Taxes 4 0 0 0 TIF Revenues 5 887,461 0 887,461 Other City Taxes 6 264,117 0 264,117 Licenses&Permits 7 30,000 17,000 47,000 Use of Money and Property 8 28,000 0 28,000 Intergovernmental 9 861,550 0 861,550 Charges for Services 10 771,095 0 771,095 Special Assessments 11 0 0 0 Miscellaneous 12 52,100 7,000 59,100 -�--..-�� Other Financing Sources 13 4,967,877 350,000 5,317,877 Total Revenues and Other Sources 14 8,442,101 374,000' 8,816,101 Expenditures&Other Financing Uses . Public Safety 15 366,093 62,000 428,093 �knowledged by Tim McDougall Public Works 16 1,440,200 200,000 1,640,200 C Health and Social Services 17 0 0 0 r 26, 2015. Culture and Recreation 18 1,324,803 0 1,324,803 Community and Economic Development 19 8,000 42,000 50,000 General Government 20 238,000 68,000 306,000 /�, Debt Service 21 1,132,877 25,000 1,157,877 Capital Projects 22 0 0 0 Total Government Activities Expenditures 23 4,509,973 397,000 4,906,973 H the State of Iowa Business Type/Enterpnses 24 1,093,900 0 1,093,900 Total Gov Activities&Business Expenditures 25 5,603,873 397;000 6,000,873 Transfers Out 26 3,067,877 100,000 3,167,877 Total Expenditures/Transfers Out 27 8,671,750 497,000 9,168,750 Excess Revenues&Other Sources Over (Under)Expenditures/Transfers Out for Fiscal Year 28 -229,649 -123,000 352,649 Sandra K.Smith Beginning Fund Balance July 1 29 2,683,336 0 2,683,336 Commission Number 753223 Ending Fund Balance June 30 30 2,453,687 -123,000 2,330,687 My Commission Expires: June 11,2017 Explanation of increases or decreases in revenue estimates,appropriations,or available cash: Licenses&Permits and Miscellaneous revenues collected are higher than anticipated. The amount of a bond is now known more accurately and that changed the Other Financing Sources amount. Public Safety expenditure total is increased due to the sale and replacement of equipment. The other expenditure totals are increased due to projects. The Transfers Out amount changed due to the change in the bond amount. 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 This will provide fora balanced budget. Cynthia Stimson City Clerk/Finance Officer Mar-14 NOTICE OF PUBLIC HEARING Form 653.C1 AMENDMENT OF CURRENT CITY BUDGET The City Council of Fairfax in LINN County,Iowa will meet at 525 Vanderbilt Street,Fairfax, Iowa at 7:00 PM on March 10,2015 (hour) (Date) ,for the purpose of amending the current budget of the city for the fiscal year ending June 30, 2015 (year) 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 Revenues&Other Financing Sources Taxes Levied on Property 1 579,901 579,901 Less:Uncollected Property Taxes-Levy Year 2 0 Net Current Property Taxes 3 579,901 0 579,901 Delinquent Property Taxes 4 0 TIF Revenues 5 887,461 887,461 Other City Taxes 6 264,117 264,117 Licenses&Permits 7 30,000 17,000 47,000 Use of Money and Property 8 28,000 28,000 Intergovernmental 9 861,550 861,550 Charges for Services 10 771,095 771,095 Special Assessments 11 0 Miscellaneous 12 52,100 7,000 59,100 Other Financing Sources 13 4,967,877 350,000 5,317,877 Total Revenues and Other Sources 14 8,442,101 374,000 8,816,101 Expendituresenditotes&Oth r Financing Uses Public Safety 15 366,093 62,000 428,093 Public Works 16 1,440,200 200,000 1,640,200 Health and Social Services 17 0 Culture and Recreation 18 1,324,803 1,324,803 Community and Economic Development 19 8,000 42,000 50,000 General Government 20 238,000 68,000 306,000 Debt Service 21 1,132,877 25,000 1,157,877 Capital Projects 22 0 Total Government Activities Expenditures 23 4,509,973 397,000 4,906,973 Business Type/Enterprises 24 1,093,900 1,093,900 Total Gov Activities&Business Expenditures 25 5,603,873 397,000 6,000,873 Transfers Out 26 3,067,877 100,000 3,167,877 Total Expenditures/Transfers Out 27 8,671,750 497,000 9,168,750 Excess Revenues&Other Sources Over (Under)Expenditures/Transfers Out Fiscal Year 28 -229,649 -123,000 -352,649 . .. Beginning Fund Balance July 1 29 .... 2,683,336 2,683,336 Ending Fund Balance June 30 30 2,453,687 -123,000 2,330,687 Explanation of increases or decreases in revenue estimates,appropriations,or available cash: Licenses&Permits and Miscellaneous revenues collected are higher than anticipated.The amount of a bond is now known more accurately and that changed the Other Financing Sources amount. Public Safety expenditure total is increased due to the sale and replacement of equipment. The other expenditure totals are increased due to projects. The Transfers Out amount changed due to the change in the bond amount. There will be no increase in tax levies to be paid in the current fiscal year named above related to the proposed budget amendment. 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. Cynthia Stimson City Clerk/Finance Officer Name 57 _544 1 CITY BUDGET AMENDMENT AND CERTIFICATION RESOLUTION To the Auditor of LINN County, Iowa: The City Council of Fairfax in said County/Counties met on March 10,2015 ,at the place and hour set in the notice,a copy of which accompanies this certificate and is certified as to publication.Upon taking up the proposed amendment, it was considered and taxpayers were heard for and against the amendment. The Council,after hearing all taxpayers wishing to be heard and considering the statements made by them,gave final consideration to the proposed amendment(s)to the budget and modifications proposed at the hearing, if any. thereupon,the following resolution was introduced. RESOLUTION No. 2015-14 A RESOLUTION AMENDING THE CURRENT BUDGET FOR THE FISCAL YEAR ENDING JUNE 3 2015 (AS AMENDED LAST ON .) Be it Resolved by the Council of the City of Fairfax Section 1. Following notice published February 26,2015 and the public hearing held, March 10,2015 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 that hearing: Total Budget Total Budget as certified Current after Current or last amended Amendment Amendment Revenues&OtherFinancing inancin Sources n Taxes Levied on Property 1 579,901 0 579,901 Less:Uncollected Property Taxes-Levy Year 2 0 0 0 Net Current Property Taxes 3 579,901 0 579,901 Delinquent Property Taxes 4 0 0 0 TIF Revenues 5 887,461 0 887,461 Other City Taxes 6 264,117 0 264,117 Licenses&Permits 7 30,000 17,000 47,000 Use of Money and Property 8 28,000 0 28,000 Intergovernmental 9 861,550 0 861,550 Charges for Services 10 771,095 0 771,095 Special Assessments 11 0 0 0 Miscellaneous 12 52,100 7,000 59,100 Other Financing Sources 13 4,967,877 350,000 5,317,877 Total Revenues and Other Sources 14 8,442,101 374,000 8,816,101 Expenditures&Other Financing Uses Public Safety 15 366,093 62,000 428,093 Public Works 16 1,440,200 200,000 1,640,200 Health and Social Services 17 0 0 0 Culture and Recreation 18 1,324,803 0 1,324,803 Community and Economic Development 19 8,000 42,000 50,000 General Government 20 238,000 68,000 306,000 Debt Service 21 1,132,877 25,000 1,157,877 Capital Projects 22 0 0 0 Total Government Activities Expenditures 23 4,509,973 397,000 4,906,973 Business Type/Enterprises 24 1,093,900 0 1,093,900 Total Gov Activities&Business Expenditures 25 5,603,873 397,000 6,000,873 Transfers Out 26 3,067,877 100,000 3,167,877 Total Expenditures/Transfers Out 27 8,671,750 497,000 9,168,750 h r Sources Over x Excess Revenues&Ote (Under)Expenditures/Transfers Out Fiscal Year 28 -229,649 123,000 -352,649MHMi �• r��•�� • ............... . F t'" Beginning Fund Balance Jul 1 29 2,683,336 0 2,683,336, Ql .,... *, Ending Fund Balance June 30 30 2,453,687 -123,000 2,330,687\ct'C''•' . s' �� . :, r Passed this 10 day of March 2015 : 0 d :-..f •): I ; (Day) (Month/Year • �.{� Signature Signature '.,.. ••..•t 0,9 City Clerk/Finance Officer Mayor '•.,y. �� •...NI/IN/.0