Agenda Packets - 1984/07/23 - Laserfiche WebLink

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TO: Mayor and Council FROM: Finance Director -Treasurer Brager BATE: July 19, 1984 RE: SOURCE OF FUNDING FOR PAYMENT OF GRANT MERRITT BILLINGS I have been requested to identify a source of funding for Grant Merritt billings in the amount of $16,535.32. At the March 26, 1984 Council meeting a budget transfer of $10,000 from contingency was authorized for evaluation of a possible lawsuit regarding the Anoka County airport. As of June 30, 1984 a balance of $208.88 remains in that account. Expenses have been as follows: Richard Meyers $2,216.25 Transplan Inc. 3,026.08 Coffman Associates 4,548.79 Total Expenses $9,791.12 The balance of $208.88 could be applied to Mr. Merritt's billings. This leaves $16,326.44 to be funded from other sources. As of June 30, 1984 the contingency account has a balance of $10,697. That could be used to pay part of the billings. In so doing the contingency account would be exhausted and there would be no contingency available should unforseen events cause an over- age in operating expenses during the remainder of 1984. The Legislature appropriated $9,257 in supplemental local government aids for 1994. Staff is recommending that those monies be appropri- ated for maintenance of the lower level of City Hall. A savings of approximately $8,000 is expected to be realized in Police personnel costs during 1984, however, staff's i985 budget proposal recommends reappropriating that amount for 1985 in order to meet budget policy guidelines calling for no more than a 5% property tax increase in 1985. At the present time no other revenue overages or expenditure savings are anticipated. I recommend the following regarding payment of Grant Merritt's bill- ing. Upon resolution of the amount to be paid to Mr. Merritt, the check be charged to the account that the other consultants bills were paid from. In November staff would review the status of the General Fund budget and determine if, at that time, any budgeted accounts have sufficient unexpended balances or revenue overages to transfer to cover the payment of the Merritt bill. If such a transfer could not be made Council could appropriate undesignated fund balance. Should you have any questions do not hesitate to contact me. DB/ds