Fund Transfers for Capital Projects and Other Expense Reimbursements in Fiscal Year 2020 Copyrig hted
J uly 6, 2020
City of Dubuque Consent Items # 6.
City Council Meeting
ITEM TITLE: Fiscal Year2020 Budgeted Transfers
SUM MARY: City Manager recommending approval of the suggested proceedings
approving a transfer of funds for capital projects and other expense
reimbursements. IowaAdministrative Rules Code 545-2.5(5), which
implements lowa Code Section 384.18
RESOLUTION Authorizing the Director of Finance to make the
appropriate inter-fund transfers of sums and record the same in the
appropriate manner for the FY2020 for the City of Dubuque, I owa
SUGGESTED Suggested Disposition: Receive and File;Adopt Resolution(s)
DISPOSITION:
ATTACHMENTS:
Description Type
MVM Memo City Manager Memo
Staff Memo Staff Memo
Resolution Resolutions
Dubuque
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Resolution Approving Fund Transfers for Capital Projects and Other
Expense Reimbursements in Fiscal Year 2020
DATE: June 29, 2020
Director of Finance and Budget Jennifer Larson recommends City Council approval of
the suggested proceedings approving a transfer of funds for capital projects and other
expense reimbursements. lowa Administrative Rules Code 545-2.5(5), which
implements lowa 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 2020, $4,986,080.47 in capital projects and other obligations were
incurred 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.
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Michael C. Van Milligen
MCVM/jml
Attachment
cc: Crenna Brumwell, City Attorney
Teri Goodmann, Assistant City Manager
Cori Burbach, Assistant City Manager
Jennifer Larson, Director of Finance and Budget
Dubuque
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TO: Michael C. Van Milligen, City Manager
FROM: Jennifer Larson, Director of Finance and Budget
SUBJECT: Resolution Approving Fund Transfers for Fiscal Year 2020
DATE: June 29, 2020
INTRODUCTION
The purpose of this memorandum is to recommend approval of the fund transfers for
special assessments collected resolution.
BACKGROUND
lowa Administrative Rules Code 545-2.5(5), which implements lowa 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 is
$4,986,080.47.
RECOMMENDATION
I respectfully recommend the adoption of the enclosed resolution approving the transfer
of funds for capital projects and other obligations.
JML
2
RESOLUTION NO.191-20
A RESOLUTION AUTHORIZING THE DIRECTOR OF FINANCE AND BUDGET TO
MAKE THE APPROPRIATE INTERFUND TRANSFERS OF SUMS AND RECORD THE
SAME IN THE APPROPRIATE MANNER FOR THE FY 2020 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 Director of Finance and Budget to Transfer Funds.That the
Director of Finance and Budget 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 2020.
Section 2.Transfer of Funds .That the Director of Finance and Budget will transfer the
following sums and to record the same in the appropriate manner:
1.Transfer from the General Fund to the DRA Gaming Fund $158,479.84 for
budgeted capital projects.
2.Transfer from the General Fund to the DRA Distribution Fund
$1,094,288.00 for budgeted capital projects.
3.Transfer from General Fund to the Section 8 Fund $97,138.00 for the
deficit related to HUD administrative funding.
4.Transfer from General Fund to General Construction Fund $117,500.00
for the Multicultural Family Center Addition Renovation
5.Transfer from General Fund to Transit Fund $1,693,164.00 for the Transit
Levy and reimbursement of the downtown shuttle.
6.Reverse the transfer from the DRA Distribution Fund to the General
Construction Fund $136,382.00 for Grand River Center Carpet.
7.Transfer from DRA Distribution Fund to the Stormwater Operating Fund
$226,321.53 for stormwater subsidies related to tax exempt entities,
farms,and half rate for income qualified.
8.Transfer from the Tort Liability Fund to the General Fund $6,065.29 for the
cost of liability insurance.
9 .Transfer from the Trust &Agency Fund to the General Fund $63,506.95
for the cost of employee benefits.
10 .Transfer from the Dubuque Industrial CenterTax Increment Financing
Fund to the General Fund $270,613.00 for the reimbursement of Tax
Increment Financing eligible expenses.
11.Transfer from the North Cascade Road Housing Tax Increment Financing
Fund to the General Construction Fund $300,000.00 for low-and
moderate-income eligible projects.
12.Transfer from the English Ridge Housing Tax Increment Financing Fund
to the General Construction Fund $9,729.00 for low-and moderate-
income eligible projects.
13.Transfer from the Greater Downtown Tax Increment Financing Fund to the
General Fund $234,804.00 for the reimbursement of Tax Increment
Financing eligible expenses.
14.Transfer from Greater Downtown TIF fund to the General Construction
Fund $136,382.00.
15.Transfer from Greater Downtown TIF Fund to Parking Operations Fund
$414,246.00 for debt service on downtown ramps.
16.Transfer from the Special Assessments Special Revenue Fund to the
General Fund $172.50 to reimburse previously assessed sidewalk
improvements.
17.Transfer from the Special Assessments Special Revenue Fund to the
Street Construction Fund $325.98 to reimburse previously assessed street
improvements.
18.Transfer from the Special Assessments Special Revenue Fund to the
Sales Tax Increment Fund $1,232.46 to reimburse previously assessed
street improvements.
19.Transfer from the Special Assessments Special Revenue Fung to the
Water Operating Enterprise Fund $459.40 to reimburse previously
assessed water improvements.
20 .Transfer from Sales Tax Construction Fund to the Stormwater Operating
Fund $25,270.52 for stormwater subsidies related to tax exempt entities,
farms,and half rate for income qualified.
Passed,approved and adopted this 6th day of July 2020.
/
Roy D,Buol,Mayor
Attest:
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Kevin S .Firnstahl,CTty Clerk