Agenda Date: 12/16/2014
Subject:
Title
Ordinance on second reading amending Ordinance No. 28 Series of 2013 known as the Annual Appropriation Bill for all municipal purposes for the fiscal year beginning January 1, 2014 and ending December 31, 2014.
Body
Presented By:
Doug Farmen, Finance Director
POLICY QUESTION:
Does city council support an amendment to the 2014 annual appropriation for the City of Littleton?
BACKGROUND:
The following funds are recommended to be increased:
General Fund - $700,000
It is city policy to transfer an amount above the 17% estimated annual operating fund balance reserve amount to the Capital Projects Fund. This is a budgeted amount for the interfund transfer; the actual amount will not be known until May 31, 2015 when the annual audit is completed.
Impact Fee Funds - $6,000
In 2014, a project was completed to update the impact fee study. The total costs to perform the study were under $6,000 and allocated to the six impact fee funds.
Public Facilities Fund - $196,000
The library chiller project was budgeted in 2013 for $109,000 in the Conservation Trust Fund. Competitive bids were much higher than the original budget so this project was deferred. The chiller failed in the summer of 2014 and replacement is now necessary. The dry cooler is over 30 years old. Staff is recommending the $196,000 appropriation to fund the chiller replacement and several small projects. Staff's recommendation during the 2015 budget meetings was to utilize this fund as a primary source for city capital needs.
Consolidated Special Revenue Fund - $110,000
This request is for additional funds for wildland fires such as overtime, vehicle maintenance, and supplies expended during the year that will be fully reimbursable to the city via intergovernmental agreements.
Employee Health Insurance Fund - $340,000
Workers compensation and health claims are major components of this fund. The city experienced a $50,000 higher ...
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