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HomeMy WebLinkAboutResolution 2017-0003CITY OF WHEAT RIDGE, COLORADO RESOLUTION NO. 03 Series of 2017 TITLE: A RESOLUTION AMENDING THE FISCAL YEAR 2017 BUDGET TO REFLECT THE APPROVAL OF A SUPPLEMENTAL BUDGET APPROPRIATION FOR THE RE-APPROPRIATION AND RE- ENCUMBRANCE OF 2016 FISCAL YEAR ENCUMBERED FUNDS IN THE AMOUNT OF $1,577,773.37 WHEREAS, the City's independent auditor has recommended that the City utilize generally accepted accounting principles (GAAP) for its budgeting basis which requires all encumbrances to expire at year end; and WHEREAS, 42 open purchase orders from 2016 were closed on December 31,2016;and WHEREAS, to continue these projects in 2017 a supplemental budget appropriation is necessary to transfer the funds from unreserved fund balances to specific 2017 budget line items: NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wheat Ridge, Colorado, as follows: A. The City of Wheat Ridge fiscal year 2017 Budget be amended accordingly, specifically transferring a total of $1,577,773.37 from the following unreserved fund balances to specific 2017 Budget line items as detailed in the attached spreadsheets: General Fund $ 290,244.29 Capital Investment Program Fund (CIP) $ 819,311.33 Open Space Fund $ 442,417.75 Conservation Trust Fund -"'-$---"2=5"""".8"""'0'""""0""".0~0 Total: $ 1,577,773.37 DONE AND RESOLVED this 13th day of February 2017. ATTEST: