Fiscal Year 2020 Budgeted Transfers Copyrighted
August 17, 2020
City of Dubuque Consent Items # 4.
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 pursuant to lowa Administrative Rules Code 545-2.5(5).
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 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: August 10, 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, $186,466.12 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: August 10, 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
$186,466.12.
RECOMMENDATION
I respectfully recommend the adoption of the enclosed resolution approving the transfer
of funds for capital projects and other obligations.
JML
2
Prepared by Jenny Larson.City Hall.50 W.13th St..Dubuque,IA 52001,563-589-4322
Return to Kevin Firnstahl,City Clerk,50 W.13th St.,Dubuque,IA 52001,563-589-4100
RESOLUTION NO.253-20
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 THAT:
ll
Section 1.The Director of Finance and Budget is authorized 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 Street Construction Fund to the General Fund $152,783.15 for JFK
and Hillcrest Traffic Signal Repairs.
2.Transfer from the Street Construction Fund to the Road Use Tax Fund $13,333.33 for
John Deere Road Traffic Study.
'
3.Transfer from General Construction Fund to the Road Use Tax Fund $20,349.45 for
US 52 Traffic Improvements.
4.Transfer from Flexsteel Escrow Fund to the Dubuque Industrial Center TIF Fund $.19
to close the fund.
Passed,approved and adopted this 17th day of August 2020.
Roy D.Buol,Mayor
Attest:
Kewn S.FirnstahlT City Clerk