Ordinance 12-32 Budget Amendment for Depreciation Reserves for Years 2010 and 2011

CITY OF HOMER
HOMER, ALASKA

City Manager/
Finance Director

ORDINANCE 12-32

AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA, AMENDING THE FY 2012 GENERAL FUND BALANCE BY ALLOCATING $544,280 FOR DEPRECIATION RESERVES FOR THE YEARS 2010 AND 2011 TO CITY HALL, PARKS AND RECREATION, PLANNING, AIRPORT TERMINAL, LIBRARY, FIRE, POLICE, PUBLIC WORKS, LEASED PROPERTIES, FIRE, POLICE, AND PUBLIC WORKS FLEET DEPRECIATION RESERVE ACCOUNTS AND AUTHORIZING THE CITY MANAGER TO TRANSFER FUNDS.

WHEREAS, The City’s General Fund Reserve for FY 2011 increased by $1,125,890; and

WHEREAS, Due to budget constraints for the years of 2010 and 2011 Depreciation Reserves were not set aside; and

WHEREAS, Pursuant to Resolution 06-100 which requires the City to attain a cash balance in depreciation reserve accounts equal to 40% of depreciable capital assets, it is sensible financial management to allocate the depreciation funds for FY 2010 and FY 2011.

NOW, THEREFORE, THE CITY OF HOMER ORDAINS:

Section 1. The Homer City Council hereby appropriates to the City Hall, Parks and Recreation, Planning, Airport Terminal, Library, Fire, Police, Public Works, Leased Properties, and the Fire, Police, and Public Works Fleet Depreciation Reserves as follows:

Account Description Amount
Revenue: 2010 2011
156-384 City Hall Reserves 10,000 10,000
156-385 Parks & Recreation 20,000 20,000
156-387 Planning 10,000 10,000
156-388 Airport Terminal 15,000 15,000
156-390 Library 15,000 15,000
156-393 Fire 30,000 30,000
156-394 Police 30,000 30,000
156-395 Public Works 50,000 50,000
156-396 Leased Properties 10,000 10,000
152-381 Fire Fleet 15,000 15,000
152-382 Police Fleet 15,000 15,000
152-383 Public Works Fleet 52,140 52,140
Expenditure:
Account Description Amount

100-100-5990 General Fund Balance ($544,280)

Section 2. The City Manager is authorized to execute the appropriate documents.

Section 3. This is a budget amendment ordinance, is temporary in nature, and shall not be codified.

ENACTED BY THE HOMER CITY COUNCIL this ___ day of ______________, 2012.

CITY OF HOMER

______________________________
JAMES C. HORNADAY, MAYOR
ATTEST:

______________________________
JO JOHNSON, CMC, CITY CLERK

YES:
NO:
ABSENT:
ABSTAIN:

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

Reviewed and approved as to form:

______________________________ ______________________________
Walt Wrede, City Manager Thomas F. Klinkner, City Attorney

Date:_________________________ Date:__________________________