AGENDA #4j

MEMORANDUM

 

TO:                  Mayor and Town Council

 

FROM:            W. Calvin Horton, Town Manager

 

SUBJECT:       Year-End Budget Amendment for 2001

 

DATE:             June 25, 2001

 

The attached budget amendment reflects technical accounting and budget adjustments or transfers for the General Fund that do not affect the overall current revenue and expenditure estimates for the funds as presented in the Manager's Recommended Budget for 2001-2002. Below is a brief description of each item.

 

General Fund

 

In the General Fund, the attached amendment would:

 

• Increase General Fund expenditures by $156,000 to account for the lease purchase authorized earlier this year for acquisition of the mobile roll carts in the Public Works Department budget.  In accord with appropriate accounting principles, the full cost of $156,000 for this purchase should be recorded in the year of purchase.  The full cost is then offset by the bank loan for the purchase, which is recorded as revenue in the current year.

 

• Increase General Fund expenditures in the Public Works Department by $868,200 to account for the lease purchase authorized in April for acquisition of land for a new Public Works facility.  In accord with appropriate accounting principles, the full cost of $868,200 for this purchase should be recorded in the year of purchase.  The full cost is then offset by the bank loan for the purchase, which is recorded as revenue in the current year.

 

• Increase Non-Departmental expenditures in the General Fund to provide a transfer of $34,000 to the multi-year Capital Improvements Fund for the Town’s matching share of a N.C. Department of Transportation Grant for improvements to the intersection of N.C. 54 and Hamilton Street.  Funding for this match is available from fund balance in the General Fund.  The attached budget ordinance amendment to the Multi-year Capital Improvements Fund would increase appropriations to provide total funding of $170,000 for these improvements, with $34,000 from the General Fund and the balance of $136,000 from the Department of Transportation grant.

RECOMMENDATION

That the Council adopt the attached year-end budget amendment for 2000-2001.

AN ORDINANCE TO AMEND “THE ORDINANCE CONCERNING APPROPRIATIONS AND THE RAISING OF REVENUE FOR THE FISCAL YEAR BEGINNING JULY 1, 2000 (2001-06-25/O-3)

 

BE IT ORDAINED by the Council of the Town of Chapel Hill that the Budget Ordinance entitled “An Ordinance Concerning Appropriations and the Raising of Revenue for the Fiscal Year Beginning July 1, 2000” as duly adopted on June 26, 2000, be and the same is hereby amended as follows:

ARTICLE I

 

                                                  Current                                                                       Revised

APPROPRIATIONS                  Budget                Increase           Decrease                  Budget

 

GENERAL FUND

 

      Public Works                   9,440,889             1,024,600                                    10,465,489

      Non-Departmental

          Transfer to Multi-

          Capital Project Fund                  0                  34,000                                           34,000

 

ARTICLE II

 

REVENUES

 

GENERAL FUND

    

     Transfers/Other Sources       885,000             1,024,600                                      1,909,600

     Fund Balance                    2,382,243                  34,000                                      2,416,243

 

 

 

This the 25^th day of June, 2001.

 

AN ORDINANCE TO AMEND THE MULTI-YEAR CAPITAL PROJECTS ORDINANCE FOR VARIOUS CAPITAL PROJECTS (2001-06-25/O-4)

 

BE IT ORDAINED by the Council of the Town of Chapel Hill that, pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, that the capital projects ordinance for various capital projects funded from a variety of sources is hereby amended as follows:

SECTION I

The capital projects as authorized by the Town Council includes various capital projects funded from grants, the Capital Improvements Program funds, and other miscellaneous sources of revenue for a variety of projects extending beyond one fiscal year.

SECTION II

The Manager of the Town of Chapel Hill is hereby directed to proceed with implementation of these projects within terms of funds appropriated here.

SECTION III

Revenues anticipated to be available to the Town to complete the project are as follows:

 

                                                                        Current Budget             Revised Budget

 

         Adopt-A-Trail Grant                                                        35,000                         35,000

         Clean Water Management Grant                                     200,000                       200,000

         Chapel Hill-Carrboro School                                          148,059                       148,059

         Metropolitan Planning Grant                                              79,000                         79,000

         State Bicycle/Pedestrian Grant                                        300,000                       300,000

         Pritchard Park Gift                                                          100,193                       100,193

         Pritchard Park Interest & Rental Income                           63,807                         63,807

         Donations                                                                           2,000                           2,000

         Orange County Bond Funds                                           205,000                       205,000

         Transfer from CIP Fund                                                  346,549                       346,549

         Transfer from General Fund                                              25,000                         59,000

         Interest Earnings                                                               88,156                         88,156

         N.C. Transportation Grant                                              212,865                       212,865

         OWASA Reimbursement                                                 42,931                         42,931

         Pedestrian Signal Reimbursement                                        5,000                           5,000

         N. C. DOT Grant                                                                      0                       136,000

 

         Total                                                                           1,853,560                    2,023,560

 

SECTION IV

 

        Amounts appropriated for the various projects are as follows:

 

                                                                        Current Budget             Revised Budget

 

         Booker Creek Linear Park                                               20,000                         20,000

         Dry Creek Trail                                                              270,800                       270,800

         Lower Booker Creek Trail                                             651,749                       651,749

         Pritchard Park                                                                164,000                       164,000

         Southern Community Park                                              205,000                       205,000

         Willow Drive Bridge                                                       343,952                       343,952

         Hargraves                                                                         50,000                         50,000

         Scroggs School Athletic Fields                                        148,059                       148,059

         N. C. 54/Hamiliton Improvements                                              0                       170,000

         Total                                                                           1,853,560                    2,023,560

 

SECTION V

 

The Manager is directed to report annually on the financial status of the project in an informational section to be included in the Annual Budget, and shall keep the Council informed of any unusual occurrences.

 

SECTION VI

 

Copies of this projects ordinance shall be entered into the Minutes of the Council and copies shall be filed within 5 days of adoption with the Manager, Finance Director and Clerk.

 

 

This the 25^th day of June, 2001.