HomeMy WebLinkAbout9/7/2005 - STAFF REPORTS (36) ' z
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cA`'F°"N`p City Council Staff Report
DATE: September 7, 2005 CONSENT CALENDAR
SUBJECT: AUTHORIZE TRANSFER OF $200,000 TO CAPITAL PROJECTS FUND
i FOR CONVENTION CENTER EXPANSION
FROM: David H. Ready, City Manager
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BY: Department of Finance and Treasury
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SUMMARY
The recommended action would amend the budget allowing for a transfer of $200,000
j to the Capital Improvement Fund for work dealing with the Convention Center
Expansion.
RECOMMENDATION:
Adopt Resolution No. "A RESOLUTION OF THE CITY COUNCIL OF
j THE CITY OF PALM SPRINGS, CALIFORNIA AMENDING THE BUDGET FOR THE
2005-06 FISCAL YEAR" (TO TRANSFER $200,000 FROM THE GENERAL FUND TO
THE CAPITAL IMPROVEMENT FUND).
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STAFF ANALYSIS:
Last month the City entered into a sewer services agreement with the Desert Water
Agency. Under the agreement DWA made a one-time contribution of$200,000 to the
City as payment for the reclaimed water that they would produce and sell. Staff would
like to use these funds for the Convention Center Expansion Project; however, under
the agreement these funds were received in the General Fund. In order for these funds
to be used on the Convention Center Project they need to be transferred to the Capital
Improvement Fund. The attached resolution provides for the necessary authority to
transfer the funds.
ITEM NO.
a
City Council Staff Report
September 7, 2005 -- Page 2
,Authorize transfer of$200,000 to Capital Projects Fund for Convention Center Expansion
FISCAL IMPACT:
Provides an additional $200,000 for use on the Convention Center Expansion Project.
Craig A,,Uraves, Director of Finance David H. Ready, City Manager---�
and ,T(asurer
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,Attachments: Resolution
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RESOLUTION NO.
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA,AMENDING THE BUDGET FOR THE 2005-06
FISCAL YEAR.
WHEREAS Resolution 21283 approving the budget forthe fiscal year2005-06was adopted
on June 8, 2005; and
WHEREAS the City Manager has recommended, and the City Council desires to approve,
certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized to record
inter-fund cash transfers as required in accordance with this Resolution, and that Resolution
21283, adopting the budget for the 2005-06 fiscal year is hereby amended as follows:
SECTION 1. ADDITIONS
Fund Activity Account Amount
261 N/A 37120 $200,000
Capital Project WW Value Sharing
Fee
Purpose
SECTION 2. SOURCE
Fund Activity Account Amount
001 N/A 37120 $200,000
General Fund WW Value Sharing
Fee
Adopted this 7t" day of September, 2005.
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ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
James Thompson David H. Ready
City Clerk City Manager
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CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. is a full, true and correct copy, and was duly adopted at a
regular meeting of the City Council of the City of Palm Springs on September 7,
2005, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
James Thompson, City Clerk
City of Palm Springs, California
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