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HomeMy WebLinkAbout12. 12-107 MARCH 13, 2012 12-107 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 $579,546.30 from the 2011 Budget to the 2012 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 2012 Budget to cover specified items. o o CD CD CD «� 0 0 O 0 0 0 N- r \ 2 0 0 R ® m ® E N- 7 Nr \ q � q � 0 0 E_ p o o Nr q q CD o CO 0 CD 0 3 E # U 7 7 S R ( 69 ER ER 6s 2 k 2 z z> z> IL IL I c I ¢Et ./ / k � m - % CD c 2 ® d CD Z cCI c @ k ® c 75 ca O g f 2 / k § ` o ® > 2 k q u. $ 3 a ° - o @ x 2 -Q o a) 2 ) u) / ® © a) k 0 2 o a) O c r o 76 2 2 c 2 c 2 c R c 2 § @ - c 2 fx O co ) 0 •E - E 2 LL ct 2 % 2 D 2 a) — & LY k a U) ƒ I- 0) 0 cNi ■ o o § 22 E Cl) q q q a) o k t• 0 0 0 0 0 1 m A a EL CL CL CL CL a)CI -e vs 0 0) o o CD CD o 0 K 0 § CD CD CD 9 a 9 , o — - CO k 2 k ® b c § ri '9 (9 '9 '9 CD 1 0 0 G < q q q q q 9 , CD 0 0 o a - - ( (N (N (N_ _ (N City of Oshkosh Finance Department 215 Church Ave.,PO Box 1130 Oshkosh,WI 54903-1130 (920)236-5080 (920)236-5039 FAX OJHKQfH ON THE WATER MEMORANDUM TO: Honorable Mayor and Members of the Common Council FROM: Peggy Steeno, Finance Director DATE: March 13, 2012 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 2011. In addition, it keeps Fiscal Year 2012 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 Vehicle ($25,013.00 + $1,000.00) —Although this item was ordered in 2011, it is not expected to arrive until sometime in 2012 due to longer lead times for this type of purchase. o Police Ammunition ($1,570.00) —Although this item was ordered in 2011, it is not expected to arrive until sometime in 2012 due to longer lead times for this type of purchase. This is due to the additional paperwork and processing for these items. o Police Tactical Rifles ($14,464.00) —Although this item was ordered in early November(2011), it is not expected to arrive until sometime in 2012 due to delays in vendor response time. Police Training Guns for OPD Explorers ($240.00)—Although this item was ordered in 2011, it is not expected to arrive until sometime in 2012 due to longer lead times for this type of purchase. o Street Lighting Materials ($44,629.75) - Although these items were ordered in 2011, they are not expected to arrive until sometime in 2012 due to longer lead times for this type of purchase. These purchases are needed to replenish the inventory that was used in the 2011 construction season as well as other repairs that were needed. o Museum Office Furniture ($2,629.55) —Although this item was ordered in 2011, it is not expected to arrive until sometime in 2012 due to longer lead times for this type of purchase. o Garbage Collection Vehicle ($490,000) —Funds for this 2012 purchase are being reserved as presented during the 2012 budget process. This is being done to spread the cost of the replacement vehicles over a number of years, and recognize that funds are available and have been identified from the 2011 budget year for this purpose. (Note: Additional funds were reserved in 2010. The 2010 and 2011 funds will be combined with 2012 funds to complete the purchase of 5 garbage trucks.) 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 $579,546.30 is set aside from the remaining funds of the previous year as intended in the 2011 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. Respectfully Submitted, Approved: Peggy Steeno Mark Rohloff Finance Director City Manager