Ordinance 2695-03 - Laserfiche WebLink

2003 Budget Adjustments Tally Sheet Department Code Rev Exp FB NGA-7 Debt Svc Amendment-2003 Debt Svc on$15 million bonds and refunded bonds. 210A 854,975 854,975 - NGA-7 CIP 2 Amendment-2003 Debt Svc on$15 million bonds and refunded bonds. 162A 238,418 (238,418) On January 3,2003 the City issued$15 million in general obligation bonds for the Special Events Center Public Space construction. A budget amendment is needed to appropriate the funds required to pay the 2003 Debt Service for both the Public Space bonds and the refunded bond issuance. See GGA-11 Increase Debt Service Fund Principal Payments 210-5120249710 55,000 Increase Debt Service Fund Interest Payments 210-5120249830 799,975 Transfer in from Fund 114-Public Space Operating Fund 210-3970249000 661,833 Transfer in from other funds-refunding portion of bond issuance 210-3970249000 193,142 Transfer from CIP 2 to Fund 114 Public Space Operating Fund 162-5xxxxxxxxx 238,418 Reduce Ending Fund Balance in CIP 2 162-5xx0999490 238,418 Department Code Rev Exp FB NGA-8 CIP 2 Amendment-Contribution from General Fund 162A 747,000 747,000 In December 2001 the City issued$13 million in variable rate demand limited tax general obligation bonds for the Special Events Center land. There was$747,000 left of bond proceeds which was restricted to Capital expenditures due to IRS regulations.These funds were used to pay for Street Improvements in Fund 119 in 2002. Therefore, Fund 119 has a year end 2002 fund balance of$747,000 that will be used for 2003 street improvements. Property taxes budgeted in 2003 for Street Improvements will revert to the General Fund, and be allocated to CIP 2. See GGA-12. Property Tax allocation 162-3111055000 747,000 Increase Ending Fund Balance 162-5550999490 747,000 Tally 2003 5/14/2003 ATTACHMENT A