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Home My WebLink AboutR08-118 Fifth Supplementary BudgetCommissioner ~STT"~t/r'r" moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO ar ` RESOLUTION NO. 2008 - ~' V RESOLUTION ADOPTING A SUPPLEMENTARY BUDGET AND APPROPRIATION OF UNANTICIPATED REVENUES FOR FISCAL YEAR 2008, AND AUTHORIZING THE TRANSFER OF BUDGETED AND APPROPRIATED MONEYS BETWEEN VARIOUS SPENDING AGENCIES WHEREAS, the County has received certain unanticipated revenues, hereinafter described; and WHEREAS, said revenues were not anticipated at the time of the adoption of the 2008 budget and/or such revenues were not assured at the time of the adoption of the 2008 budget and therefore were not appropriated; and WHEREAS, in view of the needs of the various offices, depart- ments, boards, commissions, and other spending agencies, it is also necessary to transfer certain previously budgeted and appropriated moneys; and WHEREAS, the Board has the authority to expend such unantici- pated or unassured revenues by enacting a supplementary budget and appropriation, and to transfer budgeted and appropriated revenues from one county fund to another county fund, pursuant to C.R.S. 29-1-109 and C.R.S. 29-1-111; and WHEREAS, Eagle County's Finance Director has determined that such budget appropriations are in compliance with the provisions of the Colorado Constitution, Article X, Section 20, also known as "Amendment One: The Taxpayer's Bill of Rights"; and 1 WHEREAS, this Resolution, as proposed, has been published in full one time in a newspaper having general circulation within the territorial limits of the County of Eagle, State of Colorado. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, the Board hereby authorizes a supplementary budget and appropriation of unanticipated revenues, unassured funds, and transfers from fund balance as described in Exhibit A attached hereto and incorporated herein by this reference. THAT, the Treasurer of the County of Eagle is hereby requested and directed to take all action necessary to effectuate the intent of this Resolution. THAT, the Eagle County Budget Officer is hereby requested and directed to immediately transmit an original or certified copy of this Resolution to the affected spending agencies and the officer or employee of the County of Eagle whose duty it is to draw warrants or orders for the payment of money. THAT, the Eagle County Budget Officer is hereby further requested and directed to file an original or certified copy of this Resolution with the Division of Local Governments in the Department of Local Affairs. THAT, this resolution is necessary for the public health, safety and welfare of the citizens of Eagle County, Colorado. 2 MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the day of f~N~11~ISN~ 2008. ATTEST: County Commissioners~~-~ l.i ~, ~ II~YJ u P COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS _ ~%'~~ Peter Runyon Cha~Y~man Sarfi F'isher~ Commissioner Arn Menconi, Commissioner Commissioner ~-^~~.. i seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Runyon ~ Commissioner Fisher ~ Commissioner Menconi '+ This Resolution passed by `~ ~~ vote of the Board of County Commissioners of the County of Eagle, State of Colorado. 3 EAGLE COUNTY GOVERNMENT EXHIBIT A _ ine # Fift De artment h Supplemental Appropriation to FY2008 Bud et Descri tion - _ 10/7/2008 Amount ___ _ _ _ __ I 1 GENERAL FUND ___ _ 2 Revenues: _ _ _ 3 Riverview Mgt Fees $ (236,066.00) 1001-590-4411.15 Annual Mgt Fees Riverview _ __ 4 Golden Eagle Mgt Fees , $ ___(56,856.00) 1001-590-4411.17 Annual Mgt Fees Golden Eagle __ _ 5 Unallocated Fund Balance $ - 1001-149-6611 _ _ g _ Total Revenue $ 292,922.00 _ 7 -- - - 8 Expenditures: _ - - 9 Housing Move housing budget to Housing Development Authority Fund $ _ (821,760.00) See attached General Fund Housing budget-Chopon, Leona/Riverview salaries/Golden Salanes _ hority Fund Transfer to Housing Development Au t $ 528,838.00 -_ Net transfer from the General Fund __ 10 _ _ Total Expenditures $ 292,922.00 __ - - ~-- 11 _ --- - - - 12 --- - __ ___ ' Housing Fund (now called the Housing Development - 13 Authority Loan Fund) __ 14 Revenues: _ _ - - 15 Transfer to Housing Development Authority Fund $ _ 300,000.00 _ Transferfrom Housing Development Authority Fund for Additional down payment assistance _ 16 Move Miller Ranch Sales Revenue (89,000.00) $ Move Miller Ranch sales revenue to Housing Development Authority Fund 16 -- Fund Balance ___ $ 152,912.00 Transfer 1401-590-85 Miller Ranch Budget to Housin Authority Fund g Development 17 _ _ Total Revenue $ 58,088.00 _ 18 - -- __ _ , - -- - - - 19 Expenditures: _ _ I _ _ _ - - ~ 20 Additional Loans 300,000.00 , $ Additional down payment assistance _ _ 21 Move budget to Housing Development Authority Fund _ __ $ 241,912.00 __ Miller Ranch Budgeted expenses _ 22 23 __~ tal Expenditures _ $ 58,088.00 _ _ _ _ _ - - -- 25 26 27 ' _ Affordable Housing Fund _ Revenues: _ Fund Balance __ _ __ __ _- __ $ 3,833,322.00 _-- _ - ' Net Budgeted 1002 amount transferred to Housing Development Authority Fund _ - -- _ 28 _ Total Revenue $ 3,833,322.00 _ _ ~_ 30 ' Expenditures: ~ _ __ _ -_ -_ - -- f - _ -_ __ - ___ ~ - , 31 ' Move budget to Housing _ Development Authorty Fund- (Transfer to Housing Development Authority Fund 32, - ~ $ _(4,727,814 00) $ 894,492.00 Move Budgeted Affordable Housing expense to ! Housing Development Authority fund Stratton Flats & see attached ~ Legal __ Transfer fund balance to Housing Development _ Authority Fund to close out fund - _ ~ ~ __- _ _ ~ Total Ex enditures 33 P $ 3,833,3 - _ 34 - - - - ~ - ~ - 35 - - I ---~ - - - ~ -- -~ - EAGLE COUNTY GOVERNMENT EXHIBIT A Fift h Supplemental Appropriation to FY2008 Bud et 10/7/2008 Line # De artment Descri tion Amount 36 Housing Development Authority Fund ___ 37 Revenues: 38 _ Riverview Mgt Fees $ 236,066.00 1401-590-4411 15 Budgeted Annual Riverview Mgt fees moved from General Fund ~ 39 __ _ Golden Eagle Mgt Fees _ $ 56,856 00 1401-590-4411.17 Budgeted Annual Golden Eagle Mgt fees moved from General Fund 40 Miller Ranch Sales Revenue $ 89,000.00 1401-590-85-4411.19 Miller Ranch sales revenue moved from Housing Fund _ 40 -- ransfer in from Affordable Housing Fund T $ 894,492.00 Transfer m fund balance from Affordable Housing Fund 40 _ Transfer in from General Fund $ 528,838 00 Transfer in budget to cover housing expenses from the General Fund 41 Fund Balance $ 4,581,254.00 Transfer Budgeted Affordable Housing fund Bal ~ 42 _ Total Revenue $ 6,386,506.00 - _4~ - 44 45 ~Expenditures: Housing Budget from General Fund $ 821,760.00 see attached __ Housing expenses from the General Fund _ _ __ _ 46 __ Housing Budget from Affordable Housing Fund ~ $ 4,727,814.00 Housing expenses from the Affordable Housing Fund _ 47 Purchase of Miller Ranch Home $ 295,020.00 Purchase of home at Miller Ranch _ 47 Transfer to Housing and Development loan Fund _ _ $ 300,000.00 _ Transfer to Housing Development Authority Loan Fund for additional down payment assistance _ 48 Transfer Budget from Housing Fund $ 241,912.00 Move miller ranch expense budget from the Housing Fund 49 Total Expenditures $ 6,386,506.00 _ 50 - 51 __ _ 52 53 SUMMARY All Funds General Fund _ 54 Additional Revenue ~ $ 292,922.00 (292,922.00) $ _ _ 55 __ __ Previously Funded I $ (292,922.00) __ $ __ 56 Restricted Fund Balance 57 Unallocated Fund Balance used for additional appropriations __ _ ~ ~ $ _ 595,020.00 ___ 58 _ _ Transfers In $ 1,723,330.00 __ _ _ 59 Total Appropriations $ 2,318,350.00 ($ 292,922.00 EAGLE COUNTY GOVERNMENT EXHIBIT A ____-- - - ___ _ ___ _ Fift h Supplemental Appropriation to FY2008 Bud et _ _ 10/7/2008 _ _-__ Line # De artment Descri lion Amount _ _ 1 GENERAL FUND __ _ ___ - 2 Revenues: __ ~- Riverview Mgt Fees _____ $ (236,066.00) 1001-590-4411 15 Annual Mgt Fees Riverview 4 Golden Eagle Mgt Fees $ (56,856.00) 1001-590-4411.17 Annual Mgt Fees Golden Eagle__ _ 5 Unallocated Fund Balance $ - 1001-149-6611 _ __ _____ ~ __ __ __ g Total Revenue $ 292,922.00 -- - 7 8! Expenditures: _-_-_ __ 9 Housing Move housing budget to Housing Development Authority Fund $ (821,760.00) See attached General Fund Housing budget-Chopon, Leona/Riverview salaries/Golden Salaries Transfer to Housing Development Authority Fund $ 528,838.00 _ Net transfer from the General Fund 1p Total Expenditures $ 292,922.00 _ _ ~ 11 i 12 ~~ - -- --- --- - I Housing Fund (now called the Housing Development --- 13 Authority Loan Fund) __ 14 Revenues: 15 ~ Transfer to Housing Development Authority Fund $ 300,000.00 _ Transfer from Housing Development Authority Fund for Additional down payment assistance 16 Move Miller Ranch Sales Revenue (89,000.00) $ Move Miller Ranch sales revenue to Housing Development Authority Fund - - - 16 Fund Balance _ $ 152,912.00 Transfer 1401-590-85 Miller Ranch Budget to Housin Authority Fund g Developm ent _ 17 Total Revenue $ 58,088.00 18 _ 19 Expenditures: ______ _ ___ 20 Additional Loans $ 300,000.00 _ Additional down payment assistance ___ __ 21 _ Move budget to Housing Development Authority Fund $ 241,912.00 __ Miller Ranch Budgeted expenses _ _ _ ! 22 Total Expenditures $ 58,088.00 __ ___ 23 ' - --- - - __ -- - -- --- 24 -- i ~ -- 25 Affordable Housing Fund __ ___ ___ 26 __ __ Revenues: --- -- 27 28 _ Fund Balance _ Total Revenue i __ $ 3,833,322.00 $ 3,833,322.00 Net Budgeted 1002 amount transferred to Housing Development Authority Fund __ ___ ____ 30 Expenditures: ___ _ ~ _ _ _ - _ ~_ i _ _ _ 1 32 - -_ -- - - 33 - _ -- ' Mov_e_budget to Housing Development Authority Fund- _ _ Transfer to Housm Develo ment Authorit_ Fund _ p y -- -- - Total Expenditur s ,' $ - (4,727,814.00) _ i $ 894,492.00 $ 3,833,322 00 i see attached __ _ ~ Move Budgeted Affordable Housing expense to Housing Development Authority fund Stratton Flats & Legal Transfer fund balance to Housing Development ,Authorit Fund to close ou_t fun y _ ~ ~_ - _ __ _ _ 34 -- - --- -- - - - -- - -- - - 351 -- - -- - T-- ., ; '~*w EAGLE COUNTY GOVERNMENT EXHIBIT A I _ Fifth Supplemental Appropriation to FY2008 Bud et __ __ _ 10/7/2008 Line # De artment Descri tion Amount 36 Housin Develo ment Authori Fund _ __ 37 Revenues: 38 Riverview Mgt Fees $ ___ 23__6,066.00 1401-590-4411.15 Budgeted Annual Riverview Mgt fees moved from General Fund 39 Golden Eag I e Mgt Fees $ 56,85_6._0__0_ 1401-590-4411.17 __ Budgeted Annual Golden Eagle Mgt fees moved from General Fund 40 _ _ _ Miller Ranch Sales Revenue $ 89,000.00 1401-590-85-4411.19 Miller Ranch sales revenue moved from Housing Fund _ 40 Transfer in from Affordable Housing Fund $ 894,492.00 Transfer in fund balance from Affordable Housing Fund 40 Transfer in from General Fund $ 528,838.00 Transfer in budget to cover housing expenses from the General Fund 41 Fund Balance $ 4,581,254.00 Transfer Budgeted Affordable Housing fund Bal 42 _ Total Revenue $ 6,386,506.00 -- __ 43 -- _ 44 Expenditures: 45 Housing Budget from General Fund $ _ _ 821,760.00 see attached Housing expenses from the General Fund __ 46 ___ Housing Budget from Affordable Housing Fund $ 4,727,814.00 Housing expenses from the Affordable Housing Fund 47 Purchase of Miller Ranch Home 295,020.00 $ Purchase of home at Miller Ranch 47 Transfer to Housing and Development loan Fund __ $ 300,000.00_ _ Transfer to Housing Development Authority Loan Fund for additional down payment assistance 48 Transfer Budget from Housing Fund $ 241,912 00 Move miller ranch expense budget from the Housing Fund _ _ 49 i _ _ Total Expenditures $ 6,386,506.00 ___ 50 52 _._ 53 SUMMARY All Funds General Fund __ __ 54 Additional Revenue $ _ 292,922.00 $ (292,922.00) _ _ ____ _ 55 _ _ Previously Funded _ $ (292,922.00) $ - __ ___ _____ 56 Restricted Fund Balance _ __ 57 _ Unallocated Fund Balance used for additional appropriations _ _ $ _ 595,020.00 _ _ __ 58 Transfersln $ 1,723,330.00 _ _______ 5g _ Total Appropriations $ 2,318,350.00 $ 292,922.00 Housing Funds Consolidation General Fund Housing Dept. (1001- 590) Housing Admin/Training/Education Riverview and Golden Eagle Affordable Housing Fund (1002-) Stratton Flats Housing Development Authority Fund (1401-) Housing Authority (1401-) Valley Home Store Housing Fund (1400-) Loans, Miller Ranch ~~~~ O~ c ~ ~~m ~~ ~~' ~~ o~ v Housing Development Authority Loan Fund (1400-) All Down Payment Assistance Brett Ranch, Deed Restricted Transfers