2003-23 SUPPLEMENTAL APPROPRIATION

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FINANCIAL MANAGEMENT DEPARTMENT #2003- 06 April 11, 2003 MEMO TO: The Honorable Mayor and City Council Members FROM: Steve Garman, City Manager �f�,� Beth Couter,Director of Financial Management `�� SUBJECT: Supplemental Appropriations for Fiscal Year 2002-2003 Attached aze six supplemental appropriations for fiscal yeaz 2002-2003, for funding received or required after the passage of the Appropriation Ordinance, approved July 2002. Fire Programs and Grants Fund - Fund 04 Fire Services has received funding through grants and contributions from local businesses and citizens. This money is restricted as it can only be spent on fire services functions, such as the purchase of residential smoke alarms and fire equipment used by the Fire Department. Olde Towne Redevelopment TIF- Fund 17 The City received more TIF real estate tax money than budgeted. The additional appropriation authority allows this fund to transfer this additional real estate taxes to the City's Capital Projects Fund which initially had paid for some of the central business district buildings in the TIF district. Letter of Credit - Fund 32 The City issued its first letter of credit to purchase some property for economic development projects in the downtown area and for expenses related to the Mound and 51 project. Self Insurance Fund- Fund 65 As discussed with the Council, the Self Insurance Fund has paid claims in excess of its budgeted amount for medical and worker compensation cases this fiscal yeaz. This supplemental appropriation will allow the City to use a portion of the fund's beginning fund balance to pay these claims for this iscal year. Police Grant 2002-2004 -Fund 95 This is a two year grant from the Federal Government. When the budget was prepared for the current fiscal year, the grant application had not been completed and the authorized grant amount was unknown. Section 108 - Wabash Crossing Project - Fund 96 This funding is from the Federal Government and became available after the current budget document was completed. During the summer of 2002, the City was able to access this loan money for the Wabash Crossing Proj ect from HUD.