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2008 <br /> Budget Adjustments <br /> Tally Sheet <br /> Department Code Rev Exp FB <br /> NGA-15 Debt Service Funds Amendment-Close Two Bond Programs 210A 7,396 7,396 <br /> The City made final payments on its outstanding 94 GO Unlimited Refunding Bonds and 1990 <br /> Library Lid Lift Bonds this year. These bonds were issued to fund the 1988 Senior Housing <br /> project and the Main Library expansion, respectively. Over the life of the bonds, these programs <br /> accumulated interest earnings on property taxes received in advance of bond payment dates. As <br /> a result, there are residual monies in these programs. It is recommended that the remaining <br /> monies in these programs be redistributed as follows: <br /> *$78,126 from the Senior Housing Bond program to Property Management Fund 146 to <br /> be used for the Senior Center renovations currently underway. <br /> *$96,159 from the Main Library Expansion Bonds to CIP 4 to be used for the self-check <br /> out project at the Main Library. <br /> These transfers were budgeted in the 2008 Adopted budget, but for less than the current <br /> balance to be transferred. <br /> This amendment provides authority to transfer the full amount available. <br /> Increase Investment Earnings-Library Levy Lid Lift Program 210 3611232000 1,353 <br /> Increase Transfer Out Budget-Library Levy Lid Lift Program 210 5120232550 1,353 <br /> Increase Investment Earnings-Senior Housing Bonds 210 3611239000 6,043 <br /> Increase Transfer Out Budget-Senior Housing Bonds 210 5120239550 6,043 <br /> Department Code Rev Exp FB <br /> NGA-16 'Boeing Mitigation Amendment-Interest Refund to Boeing 158A 150,000 (150,000) <br /> The Boeing Mitigation Fund, established in 1992, is expected to make its final disbursement <br /> before the end of the year. According to Addendum 8 to the 1991 Boeing Everett Mitigation <br /> Decision Document, the City agreed to accumulate interest earnings on the $500,000 allocation <br /> to the Smart Card project and remit them to Boeing after the final distribution. The final <br /> distribution to the Smart Card project is expected to occur before the end of this year. A budget <br /> amendment is needed to provide authority to return the accumulated interest to Boeing. <br /> Increase miscellaneous Expense Budget 158 5590000000494 150,000 <br /> Decrease Ending Fund Balance 158 5999000099490 150,000 <br /> ATTACHMENT A <br /> Tally 2008.xls 11/7/2008 <br />