HomeMy WebLinkAbout1996-11-25 97-29 RESOLVECOUNCIL ACTION
Data: 11-25-96 Item No. 97-29
Item/Subject: RESOLVE, Making an Appropriation from the General
Fund's Improvement Reserve to the Capital Fund for
Various Projects
Responsible Department: City Manager
Commentary:
As aee
sult of positive financial performance over a number of
years the City has met and exceeded our goal of an undesignated
fund balance of 9.58 of expenditures. In addition, our Workers'
Compensation Reserve has also exceeded needs allowing for a
release of funds from this source. As a result, a portion of our
fund balance has been recommended for transfer to our improvement
reserve to address immediate needs.
This Resolve would appropriate $303,163 for three capital
projects: repair of the Kenduskeag Stream Retaining Nall behind
the County Sail ($190,000), energy conservation projects at
various City facilities (108,913), and a consultant study of the
City's traffic signal system which can be useful for assisting in
potential state funding ($4,250).
These projects have been reviewed by the Finance Committee which
recommends your approval.
n a
Manager's Comments;
Associated Information:
Resolve
Budget Approval:
Fi
Legal Approval:
CITY
_Introduced For
passage
First Reading page_of
Referral
9J-29
"signed to Councilor Saucy November 25, 1996
CITY OF BANGOR
(TITLE.)salue..............Making an Appropriation from the General
.... _... ._...._....._...._...._...._......._..._......................._...._........_..._...
Fund's improvement Reserve to the Capital Fund for Various
Projects
BFW Cay Causal of W city o(B47114r.
BBSOLVSD,
the amount of $303,163 is hereby appropriated from
the General Fund's Improvement Reserve to the Capital Fund for
the following purposes,
xenduskeag Stream Retaining Wall $190,000
Energy Conservation Projects 108,913
Traffic Signal System Study 4.250
Total $303,163
AND, BE IT FURTHER RESOLVED, THAT: Grant funds in the amount
Of $108,000 from the Federal Emergency Management Agency are
hereby accepted and appropriated to the Capital Fund for the
repair of the Renduskeag Stream Retaining Wall. The Finance
Director is authorised to establish the necessary revenue and.
expenditure accounts for these projects.
IN CITY COUNCIL
November 25, 1996
First Reading
C
IN CITY COUNCIL
December 9. 1996
Pass d
9]-29
N E S O L V E
Mak1vR an Appropriation fron the
General Funa's Impro ement Reserve to
the Capital fund for Various Projects
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