HomeMy WebLinkAboutOrdinance No. 2294-2008Suggested by: Administration
CYTY OF KENAY
ORDINANCE NO. 2294-2008
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS BY $31,500 IN THE CONGREGATE
HOUSING ENTERPRISE FUND FOR TRANSFER TO THE GENERAL FUND PER KMC
7.32.030.
WHEREAS, KMC 7.32.030 requires that cash balances in excess of $500,000 in the
Congregate Housing Enterprise Fund be transferred to the General Fund; and,
WHEREAS, the cash balance of the Congregate Housing Enterprise Fund net of
accounts receivable and accounts payable at June 30, 2007 was $531,500; and,
WHEREAS, the current cash balance of the Congregate Housing Enterprise Fund is
$546,000.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI,
ALASKA that estimated revenues and appropriations be increased as follows:
Con~re~ate Housing Enterprise Fund
Increase Estimated Revenues:
Appropriation of Retained Earnings $31 500
Increase Appropriations:
Transfer to General Fund $31,500
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this second day of
April, 2008.
PAT PORTER, MAYOR
ATTEST:
~~ ~ ,~~--
Carol L.L. Fre~Clerk
Approved by Finance:
(03/ 11 /2008) hl
Introduced: March 19, 2008
Adopted: April 2, 2008
Effective: April 2, 2008