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1972-4859rRESOLUTION No. 4859 RESOLUTION AUTHORIZING REVISION OF 1972 BUDGET OF VARIOUS DEPARTMENTS WHEREAS, Resolution Nos. 4658 and 4707, appropriated funds for personal services, other expenses and capital outlays for each department of the city for the year 1972; and WHEREAS, Resolution Nos. 4727, 4728, 4733, 4736, 4753 and 4785 made appropriations from the 1972 Contingency Account to various departments; and WHEREAS, Resolution No. 4441 has determined that the Improvement Bonds of 1954, Series B, are subject to redemption and prepayment and authorized the .city manager to take such steps ~-.s may be necessary to redeem such bonds; and WHEREAS, The remaining ad valorem tax levies, which had been made to pay portions of the principal and interest on the above mentioned issue have been can- celled; and WHEREAS, The City Charter, Chapter 7, Section 7.09, gives the council authority to transfer unencumbered appropriation balances from one office, department or agency to another within the same fund at the request of the manager; and WHEREAS, The city manager has requested a revision of the 1972 budget appropriations in accordance with Charter provisions and as detailed in the proposed 1973 budget document. NOW, THEREFORE, BE IT RESOLVED by the city council of the City of Richfield as follows: Section 1. That the 1972 appropriations for each department of the General Fund be revised as follows: GENERAL FUND Mayor-Council $ 281 Decrease Executive 2,687 Increase Legal 7,123 Increase Finance 1,449 Increase Planning 7,341 Decrease Public Safety 29,822 Decrease Public Works 1,646 Increase Health 891 Decrease Parks & Recreation 19,518 Increase Unallocated 79,077 Decrease Total General Fund $84,989 Decrease Section 2. It is hereby determined that there are sufficient monies in the Improve- ment Bonds of 1954, Series B, Fund to pay the principal, interest and any a ~._ . Resolution No, X859 (cont:i~uedy ~- 2 debt redemption premiums on all the remaining bonds. It is further de= termined that there is surplus in such sinking fund in excess of the amounts needed for such principal, interest and premiums, and in excess of amounts pre~?iously transferred from such. sinking fund to other sinking fu~n.ds anal t.o the General Fund in an amount of at least $11.9,930. Section 3. The aforementiv~s~ed bond sinking fund, to the extent of $119,930 is hereby transferred to the General Fund, Section 4. Estimated 1972 gross revenue of the City of Richfield from all sources, as th.e same are more fu11y detailed in the city manager's official copy of the proposed 1973 budget document, are hereby revised as followrs; F'~'Iyy AMO'tTNT General Fund $66,019 Increase Section 5. By reason of the transfer of the aforementioned sinking fund surplus, it is hereby determined that the actual receipts of the city in the General .Fund exceed the budget estimates for such fund for the year 1972 by the amount of at least $119,930. The sum of $119,930 is hereby appropriated from th.e General Fu~bd to the Central Garage and Equipment Fund as a partial funding of its working ca.~ital. The General Fund budget of the city for the year 1972 is hereby amended to the extent provided in this resolution. Section 6. That the manager and finance director bring into effect the provisions of this resolution. Passed by the city council of the City of Richfield this 10th day of ©ctober, 1972. Attest; ~ ~ ~ . Thomas J. Moran City Clerk 1