HomeMy WebLinkAboutResolution-2006-0059
RESOLUTION NO. 59
Series of 2006
TITLE:
A RESOLUTION AMENDING THE 2006 FISCAL YEAR
GENERAL FUND BUDGET TO REFLECT THE
APPROVAL OF A SUPPLEMENTAL BUDGET
APPROPRIATION IN THE AMOUNT OF $5,500 FOR
MONTHLY FEE EXPENDITURES ASSOCIATED WITH
IMPLEMENTATION OF A SWEEP ACCOUNT
WHEREAS, on September 1, 2006, the City switched three of its accounts to two
accounts to facilitate a sweep account; and
WHEREAS, the monthly fee charge associated with the sweep account will be
offset by the higher interest rates and savings of staff time as money does not have to be
moved manually; and
WHEREAS, the sweep account will be reviewed on a regular basis to assure that
additional interest income offsets the fees; and
WHEREAS, a supplemental budget appropriation is necessary to cover 2006
expenditures associated with implementation of the sweep account; and
WHEREAS, the Wheat Ridge Charter requires that amendments to the budget be
effected by the City Council adopting a Resolution;
NOW THEREFORE BE IT RESOLVED by the City Council of the City of
Wheat Ridge, Colorado, as follows:
The following amendment to the 2006 General Fund Budget is hereby approved:
(a) A supplemental budget appropriation from General Fund undesignated reserves in
the amount of $5,500 to account #01-103-700-799 for monthly fee expenditures
associated with implementation of a sweep account.
This resolution shall be effective immediately upon adoption.
DONE AND RESOLVED TillS 11th DAY~ri~O;{)Jit.,~
(\\ < ~ ~. (\ Jetry ~iMlio, Mayor
ATTEST: ~~. \~~:J'N}~\ ~~
Pam Anderson, ~! Clerk \