CITY OF HOMER

HOMER, ALASKA

                                                                                                            Wythe

RESOLUTION 05-48

 

 

A RESOLUTION OF THE CITY COUNCIL EXPRESSING ITS INTENT REGARDING FUNDING FOR DEPRECIATION AND MAKING IT A PRIORITY.

 

WHEREAS, Due to budget constraints, the City has been under-funding depreciation accounts for the past few years, and

 

WHEREAS, The Council was only able to appropriate 40% of the recommended amount to depreciation in the FY 05 Operating Budget, and

 

WHEREAS, The Council believes that adequately funding depreciation is sound and prudent fiscal policy and that it should be a top priority when it develops the Operating Budget, and

 

WHEREAS, The Council recently reduced projected revenues by $40,000 in the FY 05 Operating Budget by eliminating certain library fees, and

 

WHEREAS, The Council subsequently balanced the Operating Budget by reducing the FY 05 appropriation to depreciation by $40,000.

 

NOW THEREFORE BE IT RESOLVED, That the Council believes replacing the $40,000 that was cut from depreciation accounts in the FY 05 Budget should be a top priority and hereby states its intent to do so if possible, and

 

BE IT FURTHER RESOLVED, That if the fund balance in the General Fund exceeds $2 Million Dollars at the end of Fiscal Year 2005, the first priority of the Council will be to restore the $40,000 either by adding it to the FY 05 budget or by increasing its appropriation to depreciation in FY 06 by that amount.

 

PASSED AND ADOPTED by a duly constituted quorum of the Homer City Council this 25th day of April, 2005

 

                                                                                    CITY OF HOMER

 

 

                                                                        JAMES C. HORNADAY, MAYOR

ATTEST:

 

 

MARY L. CALHOUN, CMC, CITY CLERK

Fiscal Note: No fiscal Impact