HomeMy Public PortalAbout2023-052 Resolution Approving FY23 Fund TransfersRESOLUTION 2023-052
Resolution Approving FY23 Fund Transfers
WHEREAS, the City of Riverdale, Iowa (City), is a Municipal Corporation, organized and operating under
the laws of the State of Iowa; and,
WHEREAS, on May 23, 2023, in Resolution #2023-042, Resolution Approving a Budget Amendment for
FY23, the City approved a FY23 budget amendment that included transfers between funds, and the
budget amendment was accepted by the State of Iowa; and,
WHEREAS, as a result of the forensic audit that the City engaged in, and the necessity to make
corrections in the City's accounting software, the Clerk closed out FY23 behind schedule, which will
necessitate these transfers to be made retroactive to June 30, 2023; and,
WHEREAS, the City Administrator consultant recommends several transfers, including transfers out of
the Local Option Sales Tax (LOST) fund, and on August 23, 1988, an election was held in which voters in
Bettendorf, Davenport, Eldridge, Panorama Park, and Riverdale passed a referendum allowing City
Council to define the use of LOST funds, thus permitting these transfers out of the LOST fund; and,
WHEREAS, the City Administrator consultant's recommended transfers are outlined in the attached
spreadsheet, which is made part of this Resolution.
NOW THERE FOR IT BE RESOLVED that:
Section 1. City Council approves the attached fund transfers recommended by the City Administrator
consultant.
Section 2. The Clerk is directed to make the above noted fund transfers retroactive to June 30, 2023.
Passed and approved this llth day of July 2023.
APPROVED: I ATTEST:
riCttet
Anthony Heddlesten, Mayor Kelly Kre , CI
City of Riverdale, Iowa
110 Manor Drive, Riverdale, Iowa 52722 (563) 355-2511 www.riverdaleia.org
UPDATED 07/11/2023
City of Riverdal e
Estimat ed Fund Balance Worksheet
Fund
Bef ore Transfers
C orrected Current Proj C urrent Pr oj Jun e 30, 2023
FY22 End Bal FY23 Prop RV FY23 Pr op XP End Fund Bal
001- GENERAL FUND
002- GENERAL-FEMA
General Subt otals
110 -ROA D USE
121 -LOCAL OPTION SALES TAX
150- FIRE AWARDS
Special Rev Subtotals
125- STATE STREET TIF
126- WELCH FARM TIF
145- LMI TIF
200 -DEBT SERVICE
1,295.11 556,204 .09
11,250.00 1,500.00
12,545.11 557,704.09
(782,191.01)
(11,250.00)
(793,441.01) (223,191.81)
(224,691.81)
1,500.00
127,129.50 48,401 .03
497,418.69 143,179.77
96.32 - -
(1,620.44)
173,910 .09
640,598 .46
96.32
624,644.51 191,580.80
(10,775 .50) 3,536.53
158.00 28,439.03
0.00 - -
(1,620.44) 814,604 .87
(7,238.97)
28,597.03
TIF Spec Rev Subto tals (10,617.50) 31,975.56
Debt Service Subto tals
300 -CAPITAL IMPROVEM ENT LEVY
301- CAPITAL PROJECTS
302- ROAD REPLACEMENT
303- FIRE EQUIPMENT REPL
304- 2011 CAPITAL PROJECT
305- STATE ST TIE CAPITAL PROJECTS
306- WELCH FARM TIF CAP PROJ
307- FENNO TIF CAP PROJ
Cap Projects Subtotals
42,133.57
42,133.57 0 .00
0.00 21,358.06
42,133 .57
125,529.67 72,600 .12
191,454.90 = 3,049.93
51,097.74 _ -
92, 505.03
0.00 f -
(1,390.50) -
(134,099,34)
(5,578.99)
319,518.51
610 -SANITARY SEWER (281,306. 59)
611- SEWER CAPITAL PROJECTS (29,245.61)
Pro prietary Subto tals (310,552.20)
Grand Totals
Mess Transfe rs
677,672.00
0,00 42,133,57
(171,125.99)
(20,418.29)
198,129.79
23,378 .84
51, 097 ,74
92,505.03
(1,390.50)
(154,517 .63)
(5,578 .99)
75,650.05 (191,544.28)) 203,624.28
140,773.01 (171,630.37) (312,163.95)
(29,245 .61)
140,773,01 (171,630.37) (341,409.56)
997683.51
36,206,30
(1,158,236.10)
(196,758.89)
517,119.41
Transfers 7/10/23 (Propos ed -
Edited)
In
368,073.00
After Transf ers
Current Proj Curr ent Proj Jun e 30, 2023
O ut FY23 Prop RV FY23 Pr op XP End Fund Bal
(1,500.00)
368,073.00 (1,500.00)
(563,445.00)
0 .00 (563,445.00)
(28, 597.03)
10,718 .67
10,718.67 (28,597.03)
0 ,00
394,999 .32
17,878.36
0.00
(198,127.32)
412,877 .68 (198,127 .32)
924,277.09
1,500.00
(782,191 .01)
(12,750.00)
143,381.19
925,777.09 (794,941.01) 143,381.19
48,401.03 (1,620 .44)
143,179.77 (563,445.00)
173, 910.09
77153.46
96.32
191,580.80 (565,065.44) 251,159.87
3,536.53
28,439 .03
10.718 .67
(28,597.03)
(7,238.97)
10, 718 .67
42,694.23
(28,597 .03) 3,479.70
42,133 .57
0.00
72,600 .12
398,049.25
17,878 .36
0 .00 42,133 .57
(198,127.32)
(171,125.99)
(20,418.29)
2.47
418, 378.16
51, 097.74
92, 505 .03
(1,390.50)
(136, 639.27)
(5,578.99)
488,527.73 (389,671.60)! 418,374 .64
140,773 .01 (171,630.37) (312,163.95)
(29,245 .61)
0.00 0.00 140,773.01 (171,630 .37) (341,409.56)
791,669.35 (791,669.35)
1,789, 352.86
997,683.51
(1,949,905 .45)
(1,158,236.10)
517,119.41