HomeMy WebLinkAboutOrdinance No. 2504-2010the ai of
KENAI. ALASKA
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS BY $281.80 IN THE PRISM SPECIAL
REVENUE FUND.
WHEREAS, in FY07 and FY08 the PRISM Special Revenue Fund was used to account
for the activity at the City's Fire Training Center; and,
WHEREAS, beginning in FY09 the activity for the Center has been accounted for as
the Airport Training Facility Department of the Airport Special Revenue Fund; and,
WHEREAS, $281.80 remains in the PRISM Special Revenue Fund and must be
transferred to the Airport Special Revenue Fund to close the PRISM Fund; and,
WHEREAS, the remaining balance of the PRISM Fund reflects activity prior to FY11
and it is in the best interest of the City to have this transaction reflected in the FY10
financial statements as opposed to being represented in FY 11 financial activity.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI,
ALASKA that estimated revenues and appropriations be increased as follows:
PRISM Special Revenue Fund
Increase Estimated Revenues:
Appropriation of Fund Balance
Increase Appropriations:
Transfer to Airport Fund
FURTHER BE IT ORDAINED, the Administration is directed to reflect this transaction
in FY10 to effect the closure of the PRISM fund at June 30, 2010.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 18th day of August,
2010.
ATTEST:
L. C it e
Carol y
Approved by Finance:
CITY OF KENAI
ORDINANCE NO. 2504 -2010
PAT PORTER, MAYOR
New Text Underlined; [DELETED TEXT BRACKETED]
Suggested by: Administration
$281.80
$281.80
Introduced: August 4, 2010
Adopted: August 18, 2010
Effective: August 18, 2010
KENAI, ALASKA
"Kffiaye with a Past, C# with a Future"
FINANCE DEPARTMENT
210 Fidalgo Avenue, Kenai, Alaska 99611 -7794
Telephone: 907 283 -7535 ext 221 FAX: 907 283 -3014
To: Rick Koch, City Manager
From: Terry Eubank, Finance Director
Date: July 28, 2010
Re: Ordinance 2504 -2010 Closure of PRISM Training Facility Special Revenue Fund
The operations of the City's Fire Training Facility was accounted for in the PRISM Training
Facility Special Revenue Fund (PTFSRF) in FY07 and FY08. Beginning in FY09 operations of
the Center have been accounted for in the Airport Training Facility Department of the Airport
Special Revenue Fund. The creation of the Airport Training Facility Department eliminated the
needed for the PTFSRF.
In order to close the PTFSRF the remaining equity balance of $281.80 needs to be transferred to
the Airport Special Revenue Fund. Making this transfer effective June 30, 201 will eliminate
the fund and its reporting in FY11.