Resolution Approving Fund Transfers for Capital Projects and Other Expense Reimbursements in Fiscal Year 2021 - Period 13City of Dubuque
City Council Meeting
Consent Items # 5.
Copyrighted
August 2, 2021
ITEM TITLE: Resolution Approving Fund Transfers for Capital Projects and Other
Expense Reimbursements in Fiscal Year 2021 — Period 13
SUMMARY: City Manager recommending 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 Director of Finance and Budget to make
the appropriate interfund transfers of sums and record the same in the
appropriate manner for the FY 2021 for the City of Dubuque, Iowa
Suggested Disposition: Receive and File; Adopt Resolution(s)
Type
City Manager Memo
Staff Memo
Resolution Resolutions
THE CF
D�Uj--B E
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
Dubuque
III-AmM a Ciq
2007.2012.2013
2017*2019
SUBJECT: Resolution Approving Fund Transfers for Capital Projects and Other
Expense Reimbursements in Fiscal Year 2021 — Period 13
DATE: July 27, 2021
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. 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 2021, $387,621.23 in capital projects and other obligations were incurred
through June 30, 2021 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.
/ � k�4ZA&- ��
Michael C. Van Milligen
MCVM/jml
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Jennifer Larson, Director of Finance and Budget
THE CITY OF
DB---W-EU
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Jennifer Larson, Director of Finance and Budget
Dubuque
AII•Ameriee C ft
�z
2007-2012.2013
2017*2019
SUBJECT: Resolution Approving Fund Transfers for Capital Projects and Other
Expense Reimbursements in Fiscal Year 2021 — Period 13
DATE: July 27, 2021
INTRODUCTION
The purpose of this memorandum is to recommend approval of the fund transfers for
Fiscal Year 2021 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, 2021 is $387,621.23.
RECOMMENDATION
I respectfully recommend the adoption of the enclosed resolution approving the transfer
of funds for capital projects and other obligations.
JML
Prepared by Jennifer Larson Director of Finance and Budget 50 W. 13'" St Dubuque IA 52001 (563) 589 4322
Return to Adrienne N. Breitfelder, City Clerk, 50 W. 13'^ St., Dubuque, IA 52001, (563) 589-4100
RESOLUTION NO. 262-21
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 2021 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
2021.
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 Debt Service Fund-$212.59 to correct
previous transfer for annual debt service payments.
2. Transfer from Dubuque Industrial Center Tax Increment Financing Fund to the
Debt Service Fund $879.89 to correct previous transfer for annual debt service
payments.
3. Transfer from the North Cascade Tax Increment Financing Fund to the General
Fund $10,968.54 for the reimbursement of Tax Increment Financing eligible
expenses.
4. Transfer from Greater Downtown Tax Increment Financing Fund to the General
Fund $134,704.00 for the reimbursement of Tax Increment Financing eligible
expenses.
5. Transfer from Greater Downtown Tax Increment Financing Fund to the Debt
Service Fund $183,553.07 to correct previous transfer for annual debt service
payments.
6. Transfer from Sales Tax Construction Fund to the Debt Service Fund $1,000.31
to correct previous transfer for annual debt service payments.
7. Transfer from America's River Special Revenue Fund to the General Fund
$3.65 to close the fund.
8. Transfer from Dubuque Brewing and Malting Tax Increment Financing Fund to
the Greater Downtown Tax Increment Financing Fund $0.36 to close the fund.
Transfer from the General Fund to the Golf Construction Special Revenue Fund
$56,724.00 for Fiscal Year 2021 positive golf operating results.
Passed, approved and adopted this 2°d day of August 2021.
Attest:
Adrienne N. Breitfelder, City Clerk
6 O /'j
Roy D. But, Mayor
2