1258_00001ORDINANCENO.1258
AN ORDINANCEAMENDINGTHE 1987 BUDGETFORTHECITY OF
MOSESLAKE;WASHINGTON
THECITYCOUNCILOF THE CITY OF MOSESLAKELWASHINGTON00 ORDAINAS FOLLOWS:
Section 1.CAPITALIMPROVEMENTFUND308:An amount was budgeted in the End-I Yng-fund-Baiance and was reserved for capital expenditures.$50;000 of these
funds are needed to fund the Montlake Park Capital Fund as the Cit.y must paythecostsinitiallythenbillthegrantingagency.This amount will be trans-
ferred from reserved fund balance to to an operating transfer and then paid tofund311.Upon completion of the project a budget ordinance will be submitted
to return any unused balance to Capital Fund 308.Additionally the ending
1987 fund balance is reduced by $100 000 which was transferred to Fund 310 by
a 1986 budget amending ordinance following the 1987 Budget ordinance.during
the year.
CAPITALIMPROVEMENTFUND308 1987
As AmmendedTo-date Amended
Budget Adopted Additions Deductions Budget
$700;000 $50;000 $150;000 $6001000
Section 2.MONTLAKEPARKCAPITALFUND311:To budget for the Montlake Park
grant in the amount of 596,555.572,430 is anticipated to be received from
the IAC granting agency.The City's Match is 24,125.The balance of the
$50;000which will be transferred from Fund #308 amounting to $25;875 will be
placed in a reserved ending fund balance and will be transferred back to Fund
i #308 upon completion of the project.The $25;875is necessary to provide up-front financing as the City must pay all bills before billing the granting
agency.The reserved fund balance is not available for expenditure withoutappropriation.
MONTLAKEPARKCAPITALFUND311 1987
As AmmendedTo-date
AmendedBudgetAdoptedAdditionsDeductionsBudget
-0-$122,430 -0-$122;430
Section 3.This ordinance shall take effect and be in force (5)days afteritspassageandpublicationasprovidedbylaw.
Adopted by the City Council and signed by its Mayor on January 27 1987.
ATT
City clerk
Publish:February 4,1987