HomeMy WebLinkAboutItem 06.u
January 4, 2016 Item No.
Resolution Amending 2016 Equipment Fund Budget
Proposed Action
Staff recommends adoption of the following motion: Move to approve the Resolution
Amending the 2016 Equipment Fund Budget.
Overview
The preparation of the 2016 budget included discussion about the timing of additional
positions and resources between 2016 and 2017. The final 2016 General Fund budget
included an additional Maintenance II position in the Street Department scheduled to start
approximately September 1, 2016 to coincide with the anticipated delivery of a new dump
truck. The dump truck expenditure was inadvertently left in 2017 and not included in the
final 2016 Equipment Fund budget. Therefore, staff is recommending that the 2016
Equipment Fund budget be amended to correct this oversight.
Primary Issues to Consider
• What is the funding source? The Equipment Fund is funded primarily by property
taxes, transfers from other funds, and auction/sale proceeds. The draft 2016-2025
Equipment Plan anticipated this purchase in 2017. The proposed 2016-2025
Equipment Plan reflects the purchase in 2016. Equipment Fund reserves are available
to fund this purchase in 2016.
Supporting Information
• Resolution
_________________________
Jerilyn Erickson, Finance Director
Financial Impact: $ 195,504_________ budgeted: N/A___ Source: _ Equipment Fund_
Related Documents (CIP, ERP, etc.): __2016 Budget__________________________________
Community Values: Good Value for Public Services__________________________________
CITY OF LAKEVILLE
RESOLUTION NO. ________
RESOLUTION AMENDING THE 2016 EQUIPMENT FUND BUDGET
WHEREAS, The 2016 General Fund and Equipment Fund budgets were
adopted on December 7, 2015; and
WHEREAS, The 2016 General Fund budget included an additional
Maintenance II position in the Street Department that was
scheduled to start approximately September 1, 2016 to coincide
with the anticipated delivery of a new dump truck.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakeville,
Minnesota as follows:
1. The recitals set forth above are incorporated herein.
2. The 2016 Equipment Fund budget is amended in the amount of $195,504 for the purpose of
acquiring a dump truck utilizing Equipment Fund reserves as a funding source.
ADOPTED by the Lakeville City Council this 4th day of January, 2016.
CITY OF LAKEVILLE
___________________________
Matt Little, Mayor
ATTEST:
_____________________________
Charlene Friedges, City Clerk