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>:..S I» ENTIN NSEN >:ON':;::'::: >'':<CON' N> IN <br /> Meeting Date: 1/25/95 <br /> Agenda Item: C 3 <br /> CITY OF FALCON HEIGHTS <br /> REQUEST FOR COUNCIL CONSIDERATION <br /> ITEM DESCRIPTION: Increase in 1995 capital projects budget to cover <br /> transfers for debt service payments and audit <br /> expense that were not accounted for in original <br /> capital budget amount <br /> SUBMITTED BY: Joe Rigdon, City Accountant <br /> REVIEWED BY: Susan Hoyt, City Administrator <br /> EXPLANATION /SUMMARY: 1995 capital projects budgeted expenditures did not <br /> include operating transfers to cover debt service payments or audit expenses <br /> associated with capital funds. These expenditures consist of: <br /> a) $269,200 operating transfers to debt service funds <br /> b) 1,600 audit expense <br /> $270,800 <br /> The total capital projects were initially budgeted at $325,850. The additional amount <br /> of $270,800 does not consist of any new capital projects, but is merely a <br /> bookkeeping transaction to cover debt service on the city's outstanding G.O. bonds. <br /> ACTION REQUESTED: Approval of an increase of $270,800 to the 1995 capital <br /> projects expenditure budget to cover transfers for debt service payments and audit <br /> expense. <br />