HomeMy WebLinkAbout1996-07 Transfer AppropriationsRESOLUTION NO. 96- 07
A RESOLUTION TRANSFERRING APPROPRIATIONS WITHIN THE 1995-96 BUDGET
THE CITY OF ASHLAND RESOLVES AS FOLLOWS:
SECTION 1. Due to the circumstances stated below, the Mayor and City Council of the City of
Ashland determine that it is necessary to transfer appropriations as follows:
AIRPORT
To Transfers to Debt Service Fund
From Contingency
$1.000
1,000
This will cover the final portion of the debt service on the Airport Hangars.
DEBT SERVICE FUND
To Interest
From Transfers from Airport Fund
This transaction shows the offsetting side of the transfer shown above.
ADVANCED REFUNDING BOND FUND
To Transfer to General Fund
From Carryover
Interest Expense
The final transfer is over budget by $111.54.
closure of this fund.
1.000
500
500
This appropriations transfer will allow for the
GENERAL FUND
To Transfer from Advance Refunding Bond Fund 1.000
From Miscellaneous Revenues $1,000
This transaction shows the offsetting side of the transfer shown immediately above.
GOLF COURSE FUND
To Debt Service $ 6,000
To Capital Outlay 30,000
Subtotal 36,000
From Contingency 20,000
From Matetiffs and Services 16,000
Subtotal $ 36,000
This appropriation will pay for the additional costs of improvements to the Club House and
reconditioning of greens, tees and fairways. The lease payments have been properly classified
as debt services resulting in an increase in the debt service category.
This resolution was read by title only in accordance with Ashland Municipal Code §2.1M.090 duly
PASSED and ADOPTED this/~ day of jd///;~ , 1996.
Barbara Christensen, City Recorder
SIGNED and APPROVED this/7 day of ~/t~/t~/~, 1996.
Catherine M. Golden, Mayor
R~wed a~~
Paul ~ City Attorney
G:Xjili~w~\budgei\tofal
January 7, 1996
Mayor and City Council
Jill Turner, Director of Finance
Budget Transfers
Recommendations Staff recommends the approval of the attached resolution amending the
]qqS-qG '1'994-95 Budget.
DiscUssion
These small changes in the budget are a result of under budgeting the final interest
earnings on the advance refunding account, an under estimating the final debt
transfer on the Airport hangars. Each change is explained after the numbers.