HomeMy Public PortalAboutAB 14-183 Contingent Revenue and Contingent Expense Line Item Transfers for Unanticipated Revenue
McCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 14-183
Meeting Date October 09, 2014
AGENDA ITEM INFORMATION
SUBJECT:
Contingent Revenue and Contingent Expense line
Item transfer for unanticipated revenue
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Supporter
Treasurer
Originator
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
$93,000 Local Option Taxes
Parks and Recreation
FUNDING SOURCE:
Rec & Cultural Activities $14,500, Econ Growth/Marketing $8,500, Pave/Park/Bike Paths $50,000, Recreation Facilities $20,000
Airport
Library
TIMELINE:
N/A
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
The City Clerk’s office anticipates receiving approximately $93,000 additional Local Option Taxes to fund most if not all of the projects on the FY14 LOT Contingency List. Should the
City receive the total anticipated amount of $93,000 the following entities will receive funding in priority order as follows:
$25,000 – City of McCall-Public Works
$2,500 – McCall Folklore Society Summer Music Festival
$2,500 – Friends of Payette Avalanche Center
$20,000 – Richard Sabala Foundation
$3,000 – Chamber of Commerce-July 4 fireworks
$3,000 – Chamber of Commerce-Winter Carnival
$25,000 – City of McCall-Public Works
$12,000 – City of McCall-Public Art
These revenues were not included in the FY14 budget. In order to use these funds in FY14, contingent revenue and contingent expense line item transfers must be made.
See the attached memo for the detail of each line item transfer and the corresponding General Ledger accounts of these unanticipated revenues and expenses.
RECOMMENDED ACTION
Approve the FY14 contingent revenue and contingent expense line item transfers.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION