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HomeMy WebLinkAbout1991-05-29 91-224 ORDERDaft w5n2R-91 Item No. 91-224 Imm/8ebjecn Transfer of Funds Bass Park Capital Project Responsible Department Finance Commentary:. The Bass Park track lighting project (5292) is overdrawn $31,462.58. This action would transfer funds from the Bass Park Capital Reserve Account, the -Auditorium Roof project and Race Track improvements projects to fund the deficit. The net effect would be to: close the Lighting project (5292) close the Auditorium project (5256) zero the Capital Reserve Acct. (89-2230), and reduce track improvement project (5340) (attached 5/20/91 memo) Depapamerad Manager's Comments:—fl -Yna F.,.-e....�� /fLO Cew.R.,�itdM�II , Ciiy Mnmgf Associated InformatiomQ IresaisaD Budget APpmvai:a nnCsa(ae% Finance see:o Legal Approval: 9-let a3{. city soeme. Introduced For ®passage ❑First Reading Page_of_ ❑ Referral 91-224 Amigaed to Com lot' Sawyer, May 29, 1991 ~ CITY OF BANGOR (TITLE.) (Drbe; Transfer of Funds Bass Park Capital. Projects BY Ihs city COauR of W CRY ofBa*Oar. ORDERED, TEAT The following, transfers of funds be made to fund a $31,462.58 deficit in The Base Park Track Lighting Project account (5292), from Bass Park Reserve for Capital Improvements (89-2230) $21,333.14 from Bass Park Auditorium Roof Project (5256) 8,863.05 from Bass Park Race Track Improvements Project (5340) 1,266.39 $31,462.58 In City Council M@' 29,1991 98-22LR D E R Passed 0' -.90 �nff Title, City C erk Trsntfer of Fools Hass Park Qapital Projects ................................. .... ivi (f 1A�a�'aC �• Ax'gnsd to ...... ... unci..... �r� Councilmen 91-224 CIT}Y�OF M e MAINE AP' FINANCE DEPARTMENT TEL, 2071945m00 John OwRamro, Finance DInaum May 20, 1991 Edward A. Barrett, City Manager John Quartararo, Finance Director Bass Park Capital Accounts The Bass Park Track Lighting Project is overdrawn $31,462.58 and the Shy project is complete and needs to be closed out. I am proposing the followingtransfers to close this project out: 1. Transfer of $8,863.05 excess appropriations from Bass Park Auditorium Roof Project 5256; 2. Transfer of $1,266.39 from the Race Track Improvements Project 5340 (unencumbered balance would be $9,340.01); and, 3. Transfer of $21,333.14 from the Bass Park Reserve for Capital Improvements account 89-2230. This action would fund the overexpenditure in the lighting project and close the project, and would also close the roof project. This action would leave the race track project with $9,340.81 in m numbered funds for completion of work at the raceway and close the Bass Park Reserve for Capital Improvements. Finally, this action will not require assistance from the General Fund to support the projects.