HomeMy WebLinkAbout12. 13-191
APRIL 23, 2013 13-191 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 $52,759.20 from the 2012
Budget to the 2013 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 2013 Budget to cover the specified items.
City of Oshkosh
Finance Department
215 Church Ave., PO Box 1130
Oshkosh, WI 54903 -1130
(920) 236 -5080 (920) 236 -5039 FAX
Of HKQIH
ON THE WATER
MEMORANDUM
TO: Honorable Mayor and Members of the Common Council
FROM: Peggy Steeno, Finance Director
DATE: April 23, 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 2012. In addition, it keeps Fiscal Year 2013 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 Alarm Upgrades ($5,000.00) —Although this item was initiated in 2012, it is not expected
to be completed until sometime in 2013 due to the need to work through FCC issues.
o Police Tactical Rifles ($830.00) —Although this item was ordered in September of 2012, it is not
expected to arrive until sometime in 2013 due to delays in vendor response time.
Electrical Supplies ($17,473.40) —Although these items were ordered in 2012, they are not
expected to arrive until sometime in 2013 due to longer lead times for this type of purchase.
o Street Lighting Materials ($29,455.80) - Although these items were ordered in 2012, they are not
expected to arrive until sometime in 2013 due to longer lead times for this type of purchase.
These purchases are needed to replenish the inventory that was used in the 2012 construction
season as well as other repairs that were needed.
FISCAL IMPACT
By doing Fund Balance Reservations for items that were budgeted in the previous year, we will not
negatively impact the current year's budget. Rather, the $52,759.20 is set aside from the budgeted funds
of the previous year as intended in the 2012 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,
PIX 'I (?0 U
Peggy tS�eeno
Finance Director
Approved:
mark Rohloff
City Manager
EXHIBIT A
2012 Year -End Fund Balance Reservations
Account Number
Department
Description
Amount
100 -0211- 7204 -00000
GF - Police
Alarm Upgrades
$5,000.00
215- 0211 -6550 -02160
Police-Special Fund
Tactical Rifles
$830.00
Subtotal - General Fund/Police Special Fund Items
$5,830.00
100 -0801- 6542 -00000
GF - Electric
Electrical Supplies
$17,473.40
Subtotal - General Fund Electrical Items
$97,473.40
223 - 0460 -6517 -00000
Street Lighting Fund
Street Lighting Materials
$29,455.80
Subtotal - Street Lighting Fund Items
$29,455.80
Subtotal - General Fund Items
$22,473.40
2012 Fund Balance Reservations
$52