HomeMy WebLinkAboutRes2022-089 Sidewalk FundingSponsored by: Vice Mayor McClure & Council Member Calhoon
CITY OF SEWARD, ALASKA
RESOLUTION 2022-089
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, APPROPRIATING $746,000 FROM THE CITY'S GENERAL
FUND UNASSIGNED FUND BALANCE TO THE CAPITAL
ACQUISITION PROJECTS FUND AND APPROPRIATING $350,000
FROM THE CAPITAL ACQUISITION PROJECTS FUND FOR THE
PURPOSE OF CONDUCTING SIDEWALK AND ADA RAMP REPAIRS
WHEREAS, for the first time in several years, the City of Seward has funds in reserve in
excess of the needed six-month emergency reserve; and
WHEREAS, the Capital Acquisition Projects Fund language states: the city will designate
50% of the previous fiscal years' General Fund's positive change in fund balance into the Capital
Acquisition Fund in any year where the General Fund balance is within the band of established
fund balance reserves; and
WHEREAS, there is a continuing need for sidewalk and ADA ramp repair for the safety
of our residents and funds for that are almost gone; and
WHEREAS, it is appropriate and prudent to transfer $746,000 of the reserve funds to the
Capital Acquisition Projects Fund, and appropriate $350,000 from the Capital Acquisition Projects
Fund for sidewalk and ADA ramp repair; and
WHEREAS, the city's reserves account will still meet the six-month emergency reserve
minimum following this appropriation.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA that:
Section 1. The Seward City Council hereby authorizes the city manager to transfer funds
in the amount of $746,000 from Reserves Fund Unassigned Fund Balance account no. 01000-
0000-3400 to the Capital Reserve Infrastructure Fund account no. 80010-0000-8101 and
appropriate $350,000 for the purpose of conducting sidewalk and ADA ramp repairs.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 22" d
day of August, 2022.
CITY OF SEWARD, ALASKA
RESOLUTION 2022-089
AYES:
Osenga, Calhoon, Casagranda, DeMc
NOES:
None
ABSENT:
Wells
ABSTAIN:
None
ATTEST:
16nda J. Ballou/4mc
City Clerk
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City Council Agenda Statement
Meeting Date: August 22, 2022
To: City Council
From: Vice Mayor McClure & Council Member Calhoon
Agenda Item: Resolution 2022-089: Appropriating $746,000 from the City's General Fund
Unassigned Fund Balance to the Capital Acquisition Projects Fund and
Appropriating $350,000 from the Capital Acquisition Fund for the Purpose of
Conducting Sidewalk and ADA Ramp Repairs
Background and justification:
For the first time in a couple of years we have funds in excess of our six-month emergency reserve
need. It is appropriate and prudent to transfer $746,000 of those excess funds to the Capital
Acquisition Fund. There is also a need to fund sidewalk and ADA ramp repairs.
The intent of this resolution is to make the transfer to the Capital Acquisition Fund and to fund
needed sidewalk and ADA ramp repairs.
Comprehensive and Strategic Plan Consistency Information
This legislation is consistent with (citation listed):
Comprehensive Plan:
Strategic Plan:
Other:
Certification of Funds
Total amount of funds listed in this legislation: $ 746,000 (from Unassigned Fund Balance)
This legislation (✓):
Creates revenue in the amount of: $
x Creates expenditure in amount of: $ 350,000 (for sidewalk and ADA ramp repairs)
Creates a savings in the amount of: $
Has no fiscal impact
Funds are (✓):
Budgeted Line item(s):
x Not budgeted
Not applicable
Unassigned Fund Balance and Available Unrestricted Cash Balance Information
Fund (✓):
General SMIC Electric Wastewater
Boat Harbor Parking Water Healthcare
Motor Pool ✓ Other Capital Acquisition
Unassigned Fund Balance*: $ 800,940.24 *unaudited numbers
Available Unrestricted Cash Balance*: $ 645,673.44
Finance Signature:
207
Attorney Review
RV
Yes Attorney Signature:
Not applicable Comments:
Administration Recommendation
e✓ Adopt Resolution
Other:
041R:?