HomeMy WebLinkAboutOrdinance No. 2357-2008,~
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KENA~ SKA
Suggested by: Administration
CITY OF IZENAI
OIZDINEINCE NO. 2357-2®®8
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS BY $48,044 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, during preparation of the FY2009 budget this amount was estimated at
$40,000; and,
WHEREAS, the cash balance of the Congregate Housing Enterprise Fund net of
accounts receivable and accounts payable at June 30, 2008 was X588,044; and,
WHEREAS, the current cash balance of the Congregate Housing Enterprise Fund is
$658,028.
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 $48,044
Increase Appropriations:
Transfer to General Fund $48,044
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 19th day of
November, 2008.
RICK ROSS. VICE MAYOR
ATTEST:
C..-~.e-~~-~-e-P C..~.~ ~ C.~e.,~~.-.
Carol L. Freas, City
Introduced: November O5, 2008
Adopted: November 19, 2008
~y f ~/ Effective: November 19, 2008
Approved by Finance:_~~--
(10/28/2008) hl
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