HomeMy WebLinkAbout10-52FEBRUARY 23, 2010 10 -52 RESOLUTION
(CARRIED 7 -0 LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE FUND BALANCE RESERVATIONS
INITIATED BY: DEPARTMENT OF FINANCE
BE IT RESOLVED by the Common Council of the City of Oshkosh that the proper
City Officials are hereby authorized and directed to transfer $22,104 from the 2009 Budget
to the 2010 Budget to fund specific items as outlined on the attached Exhibit A.
BE IT FURTHER RESOLVED that the proper City Officials are hereby authorized
and directed to adjust the 2010 Budget to cover specified items.
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City of Oshkosh
Finance Department
215 Church Ave., PO Box 1130
Oshkosh, WI 54903 -1130
(920) 236 -5080 (920) 236 -5039 FAX
OfHKOIH
ON THE WATER
MEMORANDUM
TO: Honorable Mayor and Members of the Common Council
FROM: Peggy Steeno, Finance Director
DATE: February 23, 2010
RE: Approve Fund Balance Reservations
BACKGROUND
A `Fund Balance Reservation' preserves funds from the prior year budget, before closing the year, for
specific items that were budgeted, but not able to be spent during the fiscal year. This is part of the year
end evaluation process, and it accomplishes two things: it allows funds from the previous year to be
carried forward to fund specific items that were budgeted and needed, and it gives a truer picture of the
year -end Fund Balance for 2009. In addition, it keeps Fiscal Year 2010 clean with respect to budgeted
items and spending.
ANALYSIS
Below is a list of the items included in the requested Fund Balance Reservation, along with the cost and
reason for the requests:
o Police Ammunition ($7,350) — Although this item was ordered in 2009, it is not expected to
arrive until well into 2010 due to delays in vendor response time which is related to the fact that
the vendor is also supporting the US war efforts.
o Police Body Armor ($1,120) — Although this item was ordered in 2009, it is not expected to
arrive until well into 2010 due to delays in vendor response time which is related to the fact that
the vendor is also supporting the US war efforts.
o Installation of Irrigation System ($9,500) — The contractor that was selected to install the system
in 2009 was unable to begin the project before winter set in. Therefore, the project needed to be
delayed until 2010. The intent is to complete this project as soon as the frost leaves the ground in
the spring.
o Traffic Signal Materials and Supplies ($4,134) — This purchase is needed to replenish the
inventory that was used in the 2009 construction season. However, due to the increased demand
for traffic signal materials across the country, the lead time for obtaining these materials has
increased to approximately 6 -9 months, and we were not able to obtain the materials in 2009.
FISCAL IMPACT
By doing a Fund Balance Reservation for items that were budgeted in the previous year, we will not
negatively impact the current year's budget. Rather, the $22,104 is set aside from the remaining funds of
the previous year as intended in the 2009 budget. This will allow the City to better evaluate the previous
year, as well as the current year, as to overall performance.
RECOMMENDATION
Staff recommends that Council adopt this resolution.
Re ectfully Submitted,
tee Steen
Finance Director
Approved:
Mark Rohloff
City Manager