REPORT TO THE BOARD OF MAYOR AND ALDERMEN

Transcription

1 REPORT TO THE BOARD OF MAYOR AND ALDERMEN DATE: August 14, 2017 FROM: SUBJECT: INTRODUCTION: Valesa S. J. Wells, Budget Officer Resolution , a resolution to amend the FY 2018 General Fund Budget and the FY 2018 Water and Sewer Budget and to approve a transfer between departments. The purpose of this Agenda item is: A. to amend the FY 2018 General Fund budget to recognize donation revenue and budget line-item expenditures; B. to amend the FY 2018 Water and Sewer Fund budget to appropriate retained earnings and to budget the lineitem expenses; and, C. to approve a General Fund interdepartmental transfer. BACKGROUND & DISCUSSION: A. General Fund Budget Amendment Library Parks The Library is requesting a budget amendment to recognize donations from various sources in the amount of $11, and to budget line-item expenditures to fund some of its programming functions, to purchase materials, equipment, a laptop, and to support the Library s public relations efforts. (Please refer to Board Report Acceptance of Donations to the Lucius E. and Elsie C. Burch, Jr. Library and Exhibit A.) Parks is requesting a budget amendment to recognize donations associated with Camp Smile grants that were awarded in July (Please refer to Board Report Acceptance of Donation: Orion Credit Union for Camp Smile and Exhibit A.) B. Water and Sewer Fund Budget Amendment Water Valve GIS Mapping The Finance Department is requesting a budget amendment to appropriate $30,000 of Water and Sewer Retained Earnings to cover contractual services expenses related to the planned water valve GIS mapping project. These funds were approved during the budget process but were inadvertently omitted from the adopted budget. (Please refer to the attached dated April 21, 2017 and Exhibit B.) GASB 68 Pension Reporting The Finance Department is requesting a budget amendment to appropriate $10,000 of Water and Sewer Retained Earnings to cover non-departmental pension expenses related to GASB 68 reporting requirements. (Please refer to Exhibit B.) C. Interdepartmental Transfer As mentioned above, the Library received a donation to purchase a new laptop. The Town s practice is to have the IT Department make all computer related purchases. Thus, the Library is requesting that the appropriated funds be transferred to ITs budget so the purchase can be made. (Please refer to Board Report Acceptance of Donations to the Lucius E. and Elsie C. Burch, Jr., Library and Exhibit C.)

2 BUDGET & STAFFING IMPACT: A. The FY 2018 General Fund budget would be amended as follows: Revenue Expenditures Current Budget $ 58,390,823 $ 57,289,741 Amendment 13,485 11,985 Amended Budget 58,404,309 57,301,726 Other Funding Sources: Fund balance appropriation Assigned - - Committed - - Restricted 25,000 - Unassigned - - Totals $ 58,429,309 $ 57,301,726 B. The FY 2018 Water and Sewer Fund budget would be amended as follows: Revenue Expenses Current Budget $ 13,033,541 $ 12,754,514 Amendment - 40,000 Amended Budget 13,033,541 12,794,514 Other Funding Sources: Retained earnings appropriation 40,000 - Totals $ 13,073,541 $ 12,794,514 C. Transfer funds between departments within the FY 2018 General Fund budget: Fund / Department / Account Transferred From Transferred To $ 2, $ $ -0- $ 2, Finance Department authorization PROPOSED MOTION: To approve Resolution to amend the FY 2018 General Fund Budget, the FY 2018 Water and Sewer Fund Budget, and to approve a transfer between departments within the General Fund. Board Action: Motion By Seconded By Vote Total Allen Fraser Patton Stamps Worley Joyner Yes No Abstain

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6 Valesa Wells From: Sent: To: Cc: Subject: Attachments: Importance: Danette Wisher Friday, April 21, :42 AM tspears; Valesa Wells; Mark Krock Bill Kilp; Tim Overly Fwd: CycloMedia Quote CycloMedia Quote for Collierville 4_22_2017.pdf High Terri, Per Bill's request below, please roll the $50,000 that is in FY 17 Utility budget account for mapping into FY18 budget account and add $30,000 for a total of $80,000. Thanks. Danette From: "Bill Kilp" <wjkilp@ci.collierville.tn.us> To: "Danette Wisher" <dwisher@ci.collierville.tn.us> Cc: "Tim Overly" <toverly@ci.collierville.tn.us>, "Kevin Bingham" <kbingham@ci.collierville.tn.us> Sent: Friday, April 21, :31:51 AM Subject: FW: CycloMedia Quote Danette I need you to roll the $50,000 that is in FY 17 Utility budget for mapping into FY18 and add $30,000 for a total of $80,000. I talked to James L today and cleared it with him. Bill From: Kevin Bingham [mailto:kbingham@ci.collierville.tn.us] Sent: Friday, April 21, :54 AM To: Bill Kilp <wjkilp@ci.collierville.tn.us>; Tim Overly <toverly@ci.collierville.tn.us>; Richard Mills <rmills@ci.collierville.tn.us>; Clay Holabird <cholabird@ci.collierville.tn.us>; John Fox <jfox@ci.collierville.tn.us> Cc: Jaime Groce <jgroce@ci.collierville.tn.us> Subject: FW: CycloMedia Quote Attached is a revised quote from CycloMedia showing the cost breakdown. Let me know if you have any questions or concerns. Thanks, Kevin 1

7 RESOLUTION A RESOLUTION TO AMEND THE GENERAL FUND BUDGET, WATER AND SEWER FUND BUDGET, AND TO APPROVE AN INTERDEPARTMENTAL TRANSFER FOR THE FISCAL YEAR NOW, THEREFORE, BE IT RESOLVED by the Board of Mayor and Aldermen of the Town of Collierville, Tennessee, that: Section 1. The General Fund appropriations for Fiscal Year as established in Resolution are amended as follows: General Fund Current Amended Revenues $ 58,390,823 $ 58,404,309 Expenditures $ 57,289,741 $ 57,301,726 Section 2. The Water and Sewer Fund appropriations for Fiscal Year as established in Resolution are amended as follows: General Fund Current Amended Revenues $ 13,033,541 $ 13,033,541 Expenditures $ 12,754,514 $ 12,794,514 Section 3. Transfer funds between departments within the FY 2018 General Fund budget as follows: Fund / Department / Account Transferred From Transferred To $ 2, $ $ -0- $ 2, Adopted this the 14th day of August, Stan Joyner, Mayor ATTEST: Town Clerk Res