HomeMy WebLinkAbout20070116 - VI-03
MEMO V-3
TO: Honorable Mayor and City Council members
FROM: Charlene A. Stark, Finance Director
RE: 06 Budget Adjustments & Transfer
DATE: January 10, 2007
,
$ 13,804.29 Adjust the 2006 budget for the Dept of Safety-Code Enforcement and
Transit Department for the insurance check received for the City's
claim on the damage done to the Code Enforcement officer's car and
one of the Trac buses. Increase the Code Enforcement budget for
$5,525.00 for the insurance recovery revenue account and
miscellaneous expense account to cover the storage costs incurred.
Increase the TRAC budget by $8,279.29 for insurance recovery
revenue account and the repair & labor expense account for the cost
incurred to repair the TRAC bus.
$ 8,869.02 Transfer to the Le-Duc Mansion operations Fund. This is interest
earned on the C.Simmons Residuary Fund. This Fund is held and
invested at US Bank and then the interest is received quarterly and
held in the Trust account until the end of the year and then the
money is turned over to the operations Fund to fund expenses
incurred by the City for the Le-Duc Mansion.
$ 4,483.00 Transfer to the Le-Duc Mansion operations Fund. This is interest
earned on the principal amount of the C.Simmons trust held at the
City and the interest earned on these funds is to be transferred to the
operations fund.
$ 300.00 Transfer budget balance from office supplies and conferences for the
Heritage Preservation Fund to the miscellaneous expense line item,
the funds will be used to pay for shipping and framing of some class
pictures.
Council Action Reauested
Authorize the above 2006 budget adjustment and transfer of funds.