Number
031470
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution rescinding reserved commitments and appropriating remaining funds from the 2003 Common Council Contingent Fund for the purpose of closing the 2003 financial books due to unanticipated shortfalls in current year operating expenses.
Analysis
This substitute resolution rescinds $668,635 in reserved commitments for a Third Police Recruit Class, the City Attorney Collection Contract, and Staffing of Villard Library authorized by prior Council action. Additionally, it transfers any remaining funds in the 2003 Common Council Contingent Fund to the Police Department's Salary and Operating Expenditure accounts.
Body
Whereas, Due to higher than budgeted overtime expenditures, the Police Department's accounts have a shortfall; and
Whereas, To facilitate closing of Year 2003 financial books, transfers from 2003 Common Council Contingent Fund are necessary; now, therefore, be it
Resolved, That the reserved commitment of $500,000 for the Third Police Recruit Class in 2003 authorized by Common Council File No. 021084 be hereby rescinded; and, be it
Further Resolved, That the reserved commitment of $133,635 for the City Attorney Collection Contract authorized by Common Council File No. 030491 be hereby rescinded; and, be it
Further Resolved, That the reserved commitment of $35,000 for the Staffing of Villard Library authorized by Common Council File No. 030722 be hereby rescinded; and, be it
Further Resolved, That no greater than the sum of $50,000 from the Common Council Contingent Fund (#0001-9990-C001-006300) (2003) be transferred to the Police Department's Operating Expenditures account (#0001-3310-R999-006300) (2003) if necessary; and, be it
Further Resolved, Any remaining funding not used for this account is to be transferred from the Common Council Contingent Fund (#0001-9990-C001-006300) (2003) to the Police Department Salar...
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