Ordinance 11-47 Transfer $415,873 from City Hall/Town Center Project Construction Account to the New City Hall Expansion and Renovation Project Construction Account

CITY OF HOMER
HOMER, ALASKA

City Manager/Finance

ORDINANCE 11-47

AN ORDINANCE OF THE HOMER CITY COUNCIL AMENDING THE FY 2011 CAPITAL BUDGET BY TRANSFERRING $415,873 FROM THE CITY HALL / TOWN CENTER PROJECT CONSTRUCTION ACCOUNT TO THE NEW CITY HALL EXPANSION AND RENOVATION PROJECT CONSTRUCTION ACCOUNT.

WHEREAS, Ordinance 07-29 authorized the transfer of $415,873 from the City Hall Depreciation Reserves (Acct: 156-384) to the City Hall / Town Center project construction account (Account 170-173); and

WHEREAS, The proposed financing package for the City Hall / Town Center project was rejected by the voters and the funds remaining in a Legislative Grant for this project were subsequently re-appropriated by the Legislature to be used for the City Hall Expansion and Renovation Project (Acct: 151-775); and

WHEREAS, The Council accepted and appropriated the re-appropriated Legislative Grant (Ordinance 11-04) however, it did not formally transfer the $415,873 from the City Hall / Town Center Project account (170-173) to the City Hall Expansion and Renovation Project account ( 151-775); and

WHEREAS, It is important from an accounting perspective that this transfer take place before the end of the year and before the FY 2011 audit takes place; and

WHEREAS, The Council intended that this money be transferred and used for the new project as evidenced by the adoption of Ordinance 11-19(S) and supporting Memorandum 11-066 which established a preliminary project budget and showed the transfer of these funds to the project account.

NOW, THEREFORE, THE CITY OF HOMER ORDAINS:

Section 1. The Homer City Council hereby amends the FY 2011 Capital Budget by transferring $415,873 from the City Hall / Town Center Project account to the City Hall Expansion and Renovation account as follows:

Account Description Amount
170-173 City Hall / Town Center Project $415,873

Transfer to:
151-775 City Hall Renovation and
Expansion Project $415,873

Section 2. This is a budget amendment ordinance, is temporary in nature, and shall not be codified.

ENACTED BY THE CITY COUNCIL OF HOMER, ALASKA, this ________ day of ______________ 2011.

CITY OF HOMER

_____________________________
JAMES C. HORNADAY, MAYOR
ATTEST:

______________________________
JO JOHNSON, CMC, CITY CLERK

YES:
NO:
ABSTAIN:
ABSENT:

First Reading:
Public Hearing:
Second Reading:
Effective Date:

Reviewed and approved as to form:

________________________ ____________________________
Walt E. Wrede, City Manager Thomas F. Klinkner, City Attorney

Date: ___________________ Date: _______________________