Resolution Approving Fund Transfers for Capital Projects - Reimbursements in Fiscal Year 2024 - Period 13City of Dubuque
City Council Meeting
Consent Items # 05.
Copyrighted
July 15, 2024
ITEM TITLE: Resolution Approving Fund Transfers for Capital Projects -
Reimbursements in Fiscal Year 2024 — Period 13
SUMMARY: City Manager recommending City Council approval of the suggested
proceedings approving a transfer of funds for capital projects and other
expense reimbursements.
SUGGESTED
DISPOSITION:
ATTACHMENTS:
Description
MVM Memo
Staff Memo
RESOLUTION Authorizing the Chief Financial Officer to make the
appropriate interfund transfers of sums and record the same in the
appropriate manner for the FY 2024 for the City of Dubuque, I owa
Suggested Disposition: Receive and File; Adopt Resolution(s)
Type
City Manager Memo
Staff Memo
Resolution Resolutions
THE CITY OF
DUB E
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Resolution Approving Fund Transfers for Capital Projects
Reimbursements in Fiscal Year 2024 — Period 13
DATE: July 8, 2024
Dubuque
AEI•A�erk� Cif
I
2007-2012.2013
2017*2019
Chief Financial Officer Jennifer Larson recommends City Council approval of the
suggested proceedings approving a transfer of funds for capital projects and other
expense reimbursements. Iowa Administrative Rules Code 545-2.5(5), which
implements Iowa Code Section 384.18, was amended to require that all transfers of
moneys from one budgeted fund to another budgeted fund must be approved by a
resolution beginning April 13, 2019.
In Fiscal Year 2024, $4,586,232.14 in capital projects were incurred through June 30,
2024 and it is recommended to transfer from the funds that were budgeted to pay the
expenses.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Milligen
MCVM/jml
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Jennifer Larson, Chief Financial Officer
THE CITY F
DU2B�WE
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Jennifer Larson, Chief Financial Officer
Dubuque
All•Ame*m Clb
2007-2012.2013
2017*2019
SUBJECT: Resolution Approving Fund Transfers for Capital Reimbursements in
Fiscal Year 2024 — Period 13
DATE: July 8, 2024
INTRODUCTION
The purpose of this memorandum is to recommend approval of the fund transfers for
Fiscal Year 2024 resolution.
BACKGROUND
Iowa Administrative Rules Code 545-2.5(5), which implements Iowa Code Section
384.18, was amended to require that all transfers of moneys from one budgeted fund to
another budgeted fund must be approved by a resolution beginning April 13, 2019. The
transfer resolution must include the following items:
1. Statement of where the money is coming from and going to.
2. The exact amount of money being transferred.
3. A clearly stated reason why the transfer is being made.
These resolution items will also need to be included as part of the budget adoption
resolution passed each March if transfers are shown in the adopted budget. For utility
surplus transfers, as defined in Administrative Rules Code 545-2.5(5), a clear
calculation proving the existence of the proposed surplus in the utility must also be
included in the transfer resolution.
DISCUSSION
Capital projects and other obligations have transfers budgeted from other funds.
Throughout the fiscal year, funds are transferred to reimburse these obligations. The
total transfer requested from the various funds to reimburse these obligations through
June 30, 2024 is $4,586,232.14 for capital expenditures.
RECOMMENDATION
I respectfully recommend the adoption of the enclosed resolution approving the transfer
of funds for capital projects and other obligations.
JML
P Damd by JennB r Larson Chef Financial Olfimr. 50 W. 1V Sr Dubuque IA 52001 (563) 5 322
Realm to Adrienne N. Bra Idw. Cdy Clad . sow. 13 St, Dubuque, IA 52001, (563) 5844100
RESOLUTION NO. 222.24
A RESOLUTION AUTHORIZING THE CHIEF FINANCIAL OFFICER TO MAKE THE
APPROPRIATE INTERFUND TRANSFERS OF SUMS AND RECORD THE SAME IN THE
APPROPRIATE MANNER FOR THE FY 2024 FOR THE CITY OF DUBUQUE, IOWA
Whereas, Iowa Administrative Rules Code Section 545-2.5(5) implements Iowa Code
Section 384.18 and provides that the City Council shall approve all transfers of moneys from
one budgeted fund to another budgeted fund as provided in Iowa Administrative Rules Code
Section 545-2.5(5).
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. Authorize the Chief Financial Officer to Transfer Funds. That the Chief
Financial Officer be and is hereby authorized by the City Council to make the appropriate
interfund transfer of sums and record the same in the appropriate manner for FY 2024.
Section 2. Transfer of Funds. That the Chief Financial Officer will transfer the
following sums and to record the Same in the appropriate manner:
1. Transfer from Stonnwater Construction Fund to General Fund $53,141.D0 for
capital construction.
2. Transfer from General Fund to DRA Distribution Fund $91,739.59 for capital
construction.
3. Transfer from the Dubuque Industrial Center Tax Increment Financing Fund to
the DRA Distribution fund $132,868.00 forthe reimbursement of Tax Increment
Financing eligible expenses.
4. Transfer from the General Construction Fund to the DRA Distribution Fund
$200,655.00 for capital construction.
5. Transfer from the Water Construction Fund to the ORA Distribution Fund
$150,000.00 for capital construction.
6. Transfer from the Stonnwater Construction Fund to the Road Use Tax Fund
$15,903.00 for capital construction.
7. Transfer from Road Use Tax fund to the Street Constmcton Fund $105,364.17
for capital construction.
8. Transfer from Greater Downtown Tax Increment Financing Fund to Street
Construction Fund $34.610.00 for reimbursement of Tax Increment Financing
eligible construction projects.
9. Transfer from General Fund to Sales Tax Construction Fund $415,000.00 for
capital construction.
10.Transfer from DRA Distribution Fund to Sales Tax Construction Fund
$105,413.64.00 for capital construction.
11. Transfer from General Fund to General Construction Fund $111,283.63 for
capital construction.
12. Transfer from Road Use Tax Fund to General Construction Fund $367,384.00
for capital construction.
13.Transfer from the Dubuque Industrial Center Tax Increment Financing Fund to
the General Construction fund $275,381.85 for the reimbursement of Tax
Increment Financing eligible construction projects.
14.Transfer from Greater Downtown Tax Increment Financing Fund to General
Construction Fund $1,114,096.95.00 for reimbursement of Tax Increment
Financing eligible construction projects.
15.Transfer from the North Cascade TIF Fund to the General Construction Fund
$426,524.29 for the reimbursement of Tax Increment Financing eligible
construction projects.
16.Transfer from General Fund to Airport Construction Fund $35,000.00 for capital
construction.
17.Transfer from DRA Distribution Fund to Airport Construction Fund $35,000.00
for capital construction.
18. Transfer from Sales Tax Construction Fund to Airport Construction Fund
$14,870.17 for capital construction.
19. Transfer from General Fund to Water Construction Fund $173,847.95.00 for
ARPA capital construction.
20. Transfer from DRA Distribution Fund to the Water Construction Fund
$10,000.00 for capital construction.
21. Transfer from General Fund to the Sanitary Sewer Fund $4,924.00 for ARPA
capital construction.
22.Transfer from Sanitary Sewer Operating Fund to the Sanitary Sewer Capital
Fund $146,760.00 for capital construction.
23.Trensfer from Road Use Tax Fund to the Stormwater Construction Fund
$9,270.40 for capital construction.
24. Transfer from General Fund to the Refuse Construction Fund $95,339.00 for
capital construction.
25. Transfer from Refuse Operating Fund to the Refuse Capital Fund $146,760.00
for capital construction.
26.Trensfer from DRA Distribution Fund to the Garage Service Fund $15,095.50
for capital construction.
Passed, approved and adopted this 16' day of July 2024.
rffred M. CavkAh, Mayor
Attest:
Trish L. Gleason, Assistant City Clerlc