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Home My WebLink AboutRES 2628 CITY OF RENTON, WASHINGTON RESOLUTION NO. 2628 A RESOLUTION OF THE CITY OF RENTON, WASHINGTON, PROVIDING TRANSFERS OF FUNDS FOR 1985 YEAR END ADJUSTMENTS. WHEREAS, it is now necessary to provide for transfers of funds to accomplish 1985 year end adjustments, and such transfers being necessary and for the public benefit , NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO RESOLVE AS FOLLOWS: SECTION I : The Director of Finance is hereby authorized and directed to make the following fund transfers: 1) FROM CONTINGENCY FUND TO CURRENT FUND FOR LEGAL SERVICE EXPENDITURES IN EXCESS OF 1985 APPROPRIATION: Increase Revenue Estimate - Current Fund: a/c 000/000/397.00.00.01 (Operating Transfers-In) . . . . . $281 ,630.00 Increase Expenditure Appropriation - Current Fund: a/c 000/000/06 .515.20.41.37 (Other Legal Services) . . . . $281 ,630.00 Cash Transfer - Expend from Contingency Fund a/c 107/000/22.597.93.55.05 (Operating Transfer-Out) . . $281 ,630.00 Cash Transfer - Revenue Received - Current Fund) a/c 000/000/397.00.00.01 (Operating Transfer-In) . . . . . . $281,630.00 2) FROM CONTINGENCY FUND TO 1983 UNLIMITED GENERAL OBLIGATION BOND FUND (COULON PARK) . TEMPORARY LOAN NECESSARY SINCE PROPERTY TAXES WILL BE LESS THAN THE ESTIMATE. LOAN TO BE REPAID TO THE CONTINGENCY FUND UPON RECEIPT OF PROPERTY TAXES IN 1986. NO INTEREST ON THE LOAN IS REQUIRED SINCE BOTH FUNDS ARE TAX SUPPORTED: From: Interfund Loans Receivable - Contingency Fund: a/c 107/000/132.00.00.00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 65,000.00 Unto: Interfund Loans Payable - 1983 Unlim. G.O. Bond Fund: a/c 213/000/227.00.00.00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 65,000.00 -1- CITY OF RENTON, WASHINGTON RESOLUTION NO. 2628 - Continued 3 ) FROM CUMULATIVE RESERVE FUND #3421 (SEWER LINE/HONEYCREEK - KENNYDALE) TO WATER AND SEWER CONSTRUCTION FUND. CUMULATIVE RESERVE #3421 CLOSED. Increase Revenue Estimate - Water/Sewer Construction Fund: a/c 421/000/397.00.00.27 (Opr. Trfs.=In/Cum. Res. 3421) . .$ 1 ,025.68 Increase Expenditure Appropriation - Water/Sewer Constr: a/c 421/000/15.596.38.65.19 (Sewer Improvements/Major) . .$ 1,025.68 Cash Transfer - Expend from Cum. Res. #3421: a/c 116/000/15.597.35.55.13 (Operating Transfers-Out ) . .$ 1 ,025.68 Cash Transfer - Revenue Received - Water/Sewer Constr. a/c 421/000/397.00.00.27 (Opr. Trfs.-In/Cum. Res. 3421) . .$ 1 ,025.68 4) FROM CUMULATIVE RESERVE FUND #3390 (LIBRARY IMPROVEMENTS) TO CAPITAL IMPROVEMENT FUND (CIP) - MAIN LIBRARY IMPROVEMENT PROJECT. CUMULATIVE RESERVE #3390 CLOSED. Increase Revenue Estimate - CIP Fund: a/c 317/000/397.00.00.03 (Opr. Trfs.-In/Cum. Res. 3390) .$ 988 . 52 Increase Expenditure Appropriation - CIP Fund: a/c 317/000/21.594.72.65.39 (Library Improvement) . . . . . .$ 988.52 Cash Transfer - Expend from Cum. Res. #3390: a/c 119/000/21.597.72.55.16 (Operating Transfers-Out ) . .$ 988 . 52 Cash Transfer - Revenue Received - CIP Fund: a/c 317/000/397.00.00.03 (Opr. Trfs.-In/Cum. Res. 3390) .$ 988. 52 5) FROM CUMULATIVE RESERVE FUND #3611 (EMPLOYEE MEDICAL BENEFITS) TO INSURANCE FUND. CUMULATIVE RESERVE #3611 CLOSED. Increase Revenue Estimate - Insurance Fund: a/c 502/000/397.00.00.00 (Opr. Trfs.-In/Cum. Res. 3611. .$ 2 ,488.28 Increase Expenditure Appropriation - Insurance Fund: a/c 502/000/05.517.30.00.00 (Health Ins. Services) . . . . .$ 2,488 .28 Cash Transfer - Expend from Cum. Res. #3611: a/c 123/000/05.597.17.55.19 (Operating Transfers-Out ) . .$ 2,488 .28 Cash Transfer - Revenue Received - Insurance Fund: a/c 502/000/397.00.00.00 (Opr. Trfs.-In/Cum. Res. 3611) $ 2 ,488 .28 -2- CITY OF RENTON, WASHINGTON RESOLUTION NO. 2628 - Continued 6) FROM CUMULATIVE RESERVE FUND #3665 (UTILITY CONNECTION CHARGES) TO WATER AND SEWER CONSTRUCTION FUND, AND TRANSFER ENDING FUND BALANCE TO EXPENDITURE ACCOUNTS IN WATER AND SEWER CONSTR. FUND. Increase Revenue Estimate - Water/Sewer Constr. Fund: . a/c 421/000/397.00.00.28 (Opr. Trfs.-In/Cum. Res. 3665) .$237,000.00 Transfer from Water/Sewer Constr. Ending Fund Balance to Expenditure Accounts: (Decrease Ending Fund Balance) a/c 421/000/00.508 .00.00.00 (Ending Fund Balance) . . . . . .$324 ,000.00 $561,000.00 Increase Expenditure Appropriations - Water/Sewer Constr: a/c 421/000/15.596 .38.65.15 (Water Projects/Major) . . . . .$ 83,000.00 a/c 421/000/15.596 .38.65.19 (Sewer Projects/Major) . . . . . 241,000.00 a/c 421/000/15.596 .38.65.27 (Water Projects/Rehab. ) . . . . 125,000.00 a/c 421/000/15.596 .38 .65.28 (Sewer Projects/Rehab. ) . . . . 112,000.00 $561,000.00 Cash Transfer - Expend from Cum. Res. #3665: a/c 128/000/15.597.38.55.21 (Operating Transfers-Out) . .$237,000.00 Cash Transfer - Revenue Received - Water/Sewer Constr: a/c 421/000/397.00.00.28 (Opr. Trfs.-In/Cum. Res. 3665) .$237,000.00 7) TRANSFERS WITHIN THE INSURANCE FUND EXPENDITURES; REDISTRIBUTE ORIGINAL LUMP SUM APPROPRIATION FOR EMPLOYEE BENEFIT PROGRAM. Reduce Expenditure Appropriation: a/c 502/000/05.517.10.20.00 (Employee Benefit Program) . .$100,000.00 Increase Expenditure Appropriations: a/c 502/000/05.517.60.00.00 (Worker 's Compensation Services - Industrial Insurance Claims) . . . . . . . . . . . . . . . . 83,000.00 a/c 502/000/05.517.70.00.00 (Unemployment Compensation Services) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,000.00 $100,000.00 8 ) INCREASE TRANSFER FROM CUMULATIVE RESERVE FUND #3661 (REAL ESTATE EXCISE TAX) TO CAPITAL IMPROVEMENT FUND (CIP) TO OFFSET OTHER REVENUE NOT RECEIVED, IN ORDER TO ARRIVE AT THE 1986 ESTIMATED BEGINNING FUND BALANCE. Transfer from Cum. Res. 3661 Ending Fund Balance to Operating Transfers-Out : (Decrease Ending Balance; Increase Trfs.-Out ) From: a/c 120/000/00.508.00.00.00 (Ending Fund Balance) $ 79,254 .00 Unto: a/c 120/000/05.597.90.55.17 (Opr. Trfs.-Out) . . . .$ 79,254.00 Increase Revenue Estimate - CIP Fund: a/c 317/000/397.00.00.04 (Opr. Trfs.-In/Cum. Res. 3661) .$ 79,254.00 Increase Expenditure Appropriation - CIP Fund: a/c 317/000/00.508.00.00.00 (Ending Fund Balance) . . . . . .$ 79,254.00 Cash Transfer - Expend from Cum. Res. #3661 : a/c 120/000/05.597.90.55.17 (Opr. Trfs .-Out ) . . . . . . . . . . . $ 79,254 .00 Cash Transfer - Revenue Received - CIP Fund: a/c 317/000/397.00,00.04 (Opr. Trfs.-In/Cum. Res . 3661) $ 79,254.00 -3- CITY OF RENTON, WASHINGTON RESOLUTION NO. 2628 - Continued 9) TRANSFER FROM CITY SHOP CONSTRUCTION FUND ENDING FUND BALANCE TO EXPENDITURE ACCOUNT; PROVIDES FOR 1985 CITY SHOP EXPENSE: From: Decrease Ending Fund Balance Appropriation: a/c 316/000/00.508 .00.00.00 . . . . . . . . . . . . . . . . . . . . . . . . . . . $175,000.00 Unto: Increase Expenditure Appropriation: a/c 316/000/15.594.44.65.29 (City Shop Facility) . . . . . . $175,000.00 10) TRANSFER FROM LOCAL IMPROVEMENT (L. I . ) GUARANTY FUND ENDING FUND BALANCE TO EXPENDITURE ACCOUNT; PROVIDES TRANSFER TO LID 397. From: Decrease Ending Fund Balance Appropriation: a/c 602/000/00.508 .00.00.00 . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,595.42 Unto: Increase Operating Transfers-Out Appropriation : a/c 602/000/05.597.94.55.27 . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,595.42 PASSED BY THE CITY COUNCIL this 16th day of December, 1985. Maxine E. Motor, City Clerk APPROVED BY THE MAYOR this 16th day of December, 1985. Barbara Y. Shinpoch, Mayor APPROVED AS TO FORM: Lawrence J. Warren , City Attorney -4-