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Ordinance 14-38(A) Amending Port and Harbor Enterprise Fund for Mid Year Adjustments and Transfers to the Depreciation Account
Summary
An Ordinance of the City Council of Homer, Alaska, Amending the FY 2014 Port and Harbor Enterprise Fund Operating Budget by Making Necessary Mid-Year Adjustments to Certain Expenditure Line Items and Transfers to the Depreciation Account. City Manager.
Ordinance/Resolution ID:
14-38(A)
Ordinance/Resolution Status:
Adopted
Introduction Date:
07/28/2014
Effective Date:
08/12/2014
Public Hearing Date:
08/11/2014
Second Reading Date:
08/11/2014
Related Meetings
Related Memorandums
Details
CITY OF HOMER
HOMER, ALASKA
City Manager
ORDINANCE 14-38(A)
AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA, AMENDING THE FY 2014 PORT AND HARBOR ENTERPRISE FUND OPERATING BUDGET BY MAKING NECESSARY MID-YEAR ADJUSTMENTS TO CERTAIN EXPENDITURE LINE ITEMS AND TRANSFERS TO THE DEPRECIATION ACCOUNT.
WHEREAS, The Port and Harbor Director recommends that certain mid-year budget adjustments to the Port and Harbor budget are necessary and appropriate and he has explained and justified them in Memorandum 14-114; and
WHEREAS, The Port and Harbor Director recommends further that transfers from the Enterprise Fund / Fund Balance and from the Revenue Bond Reserve Account to the Depreciation Account are desirable and consistent with City Council policy; and
WHEREAS, The proposed transfer from the Fund balance represents the excess of revenues over expenses in 2013, the prior fiscal year and the transfer from the Revenue Bond Reserve Account represents the amount that the Alaska Municipal Bond Bank says is above and beyond the required balance; and
WHEREAS, The Finance Director and the City Manager concur and recommend approval.
NOW, THEREFORE, THE CITY OF HOMER ORDAINS:
Section 1. The Homer City Council hereby amends the FY 2014 Port and Harbor Enterprise Fund Operating Budget as follows:
Account Original Budget ($) Increase Decrease Amended Budget Description
400-0601-5202 $12,000 $10,500 $32,500$22,500
400-0601-5207 $ 4,000 $ 4,000 $ 8,000
Account Original Budget ($) Increase Decrease Amended Budget Description
400-0601-5287 $ 3,000 $13,600 $16,600
400-0602-5218 $ 3,260 $12,000 $15,260
400-0604-5218 $ 2,000 $30,000 $32,000
400-0382 (Bond Reserve) $500,000 Transfer to Depreciation
400-0380 (Depreciation) $500,000 Transfer from Bond Reserve
400-0380 (Depreciation) $800,000 Transfer from Fund Balance
Section 2. This is a mid-year budget adjustment ordinance, is not permanent in nature, and shall not be codified.
ENACTED BY THE CITY COUNCIL OF HOMER, ALASKA, this ______ day of ___________, 2014.
CITY OF HOMER
_______________________
MARY E. WYTHE, MAYOR
ATTEST:
____________________________
JO JOHNSON, MMC, 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:__________________________