HomeMy WebLinkAboutORDINANCE 1379-1990 4. ~ ~
~ ~.~
Suggested by: Administration
CITY OF KENAI
1379-9t}
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAr, ALASKA INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS BY $16,153 IN THE FEDERAL
REVENUE SHARING FUND, AND TRANSFERRING THE MONEY TO THE GENERAL FUND.
WHEREAS, the Federal Revenue Sharing program was abolished in 1986.,
and
WHEREAS, substantially all Federal Revenue Sharing receipts have been
expended, and the City attempted to close the Fund with an
appropriation of $100,000 to Police Salaries in the 1989-90 annual
budget, and
WHEREAS, because of timing of interest accruals and expenditures of
open purchase orders that existed at July 1, 1989, the Fund has a
current cash balance of approximately $12,928 and is expected to earn
approximately $3,225 of interest during the 1989-90 fiscal year, and
WHEREAS, it is in the City's best interest to close the Fund by the
end of the current fiscal year .
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI,.
ALASKA, that estimated revenues and appropriations be increased as
follows, with the intention of expending all Federal Revenue Sharing
money by June 30, 1990:
Federal Revenue Sharing Fund
Increase Estimated Revenues:
Appropriation of Fund Balance $12,928
Interest Revenue 3,225
a~3 6
Increase Appropriations:
Transfer to General Fund $16,153
General Fund
Increase Estimated Revenues:
Transfer from F.R.S. Fund $16,153
Increase Appropriations:
Police Salaries $16,153
,.,:....
. ... .
..
.,_,,..
i ~
~ .~~ ...
i•
PASSED $Y THE COUNCIL OF THE CITY OF KENAI, ALASKA,, this 20th day of -
June, 1990.
ATTEST:
.~
Carol Freas, City Clerk
Introduced: June 6, 1990
Adopted: June 20, 1990
Effective Date: June 20, 1990
•
Approved by Finance:~g /r ,~
(5/23/90)
kl