HomeMy WebLinkAbout03-160 .CITY OF LAKEVILLE
RESOLUTION
Date September 15, 2003 Resolution No. 03-160
.Motion By Luick Seconded By Wulff
RESOLUTION AMENDING THE 2003 -2007 CAPITAL
IMPROVEMENT PROGRAM AND 2003 WATER OPERATING
FUND BUDGET
WHEREAS; the City Council approved Resolution 03-103, A Resolution
Adopting a Capital Improvement Program for 2003 - 2007; and
WHEREAS, the 2003 - 2007 Capital Improvement Program provided financing
from the Water Operating Fund in the amount. of $1,615,000 in 2004 for the Well No. 2
and Well No. 4 :collection pipe; and
WHEREAS, the Well No. 2 and Well No. 4 collection pipe is being constructed
to Cedar Avenue in 2003 at a cost of approximately $340,000 with the remaining portion
of the project from Cedar Avenue to the Water Treatment Facility to be constructed in
2004; and
WHEREAS, the City Council desires to amend the Water Operating Fund budget
for all of the Capital Improvement Program projects constructed and financed from said
fund in 2003.
NOW THEREFORE BE IT RESOLVED, that the 2003 - 2007 Capital
Improvement Program is hereby amended to provide $340,000 in 2003 with a
corresponding decrease in 2004 for the Well No. 2 and Well No. 4 collection pipe
construction project; and
BE IT FURTHER RESOLVED that the 2003 Water Operating Fund budget is
hereby amended as follows:
a •
2003 2003
• ADOPTED AMENDED
BUDGET ADJUST :BUDGET
Revenues
Water sales $1,804,051 $1,804,051.
Penalties 70,505 70,505
Meter sales, net 17,130 17,130
Interest income 104,076 - 104,076
Total revenues 1,995,762 - 1,995,762
Expenses
Personnel 599,944 599,944
Commodities 161,260 161,260
Other charges and services 725,583 725,583
Major. maintenance projects - 826,262 826,262
Total expenses 1,486,787 826,262 2,313,049
Net operating income 508,975 826,262 317,287
Capital outlay 54,496 - 54,496
Net increase before transfers 454,479 826,262 371,783
Transfers In ! (out)
Transfers from Surface Water Management Fund 3,197 3,197
Transfers to General Fund 76,826 - 76,826
Total transfers in J (out) 73,629 - 73,629
Net increase (decrease) 38Q850 (826,262) (445,412)
Working Capital, January 1 4,163,039 - 4,163,039
Working Capital, December 31 $ 4,543,889 $ 826,262 $ 3,717,627
APPROVED AND ADOPTED by the City Council of the City ofLakeville,
Minnesota, this 15th day of September, 2003.
CITY OF LAKEVILLE
By: /(G
Robert D. son, Mayor
TTEST:
harlene Frie ges, Ci lerk