HomeMy WebLinkAbout26 - Library Foundation Special Purpose DepositTO:
FROM
CITY OF NEWPORT BEACH
CITY COUNCIL STAFF REPORT
Agenda Item No. 26
December 9, 2003
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
LINDA KATSOULEAS, LIBRARY SERVICES DIRECTOR, 949 - 717 -3810
lindak @city.newport- beach.ca.us
SUBJECT: BUDGET AMENDMENT TO APPROPRIATE FUNDS BEING HELD IN
THE LIBRARY FOUNDATION SPECIAL PURPOSE DEPOSIT
ACCOUNT TO EXPENDITURES ACCOUNTS.
RECOMMENDATION:
Approve a Budget Amendment in the amount of $55,000.
DISCUSSION:
Approve Budget Amendment directing staff to transfer funds being held in the Library
Foundation Special Purpose account #030 -2248 into revenue account 4010 -5901 so
the funds can be appropriated into expenditure accounts 4050 -8080 and 4050 -8160 for
the renovation of the Public Restrooms and the Popular Library respectively at the
Central Library. These funds were a gift from the Foundation and specified for this
purpose by BA #004 of this fiscal year.
When appropriated the funds will be used as follows:
4050 -8080
To renovate the Public Restrooms
- plumbing
$7,500
- countertops
$15,000
- painting
$2,500
- contractor
$5,000
$30,000
4050 -8160
To renovate the Popular Library area
- laborlpaint
$5,000
- display cases
$5,000
- cabling and related services from General Services
$5,000
- plumbing
$1,000
- carpet cleaning
$5,000
$25,000
TOTAL $55,000
Submitted
� /I
City of Newport Beach
BUDGETAMENDMENT
2003 -04
EFFECT ON BUDGETARY FUND BALANCE:
Increase Revenue Estimates
X Increase Expenditure Appropriations
Transfer Budget Appropriations
SOURCE:
from existing budget appropriations
from additional estimated revenues
qX from unappropriated fund balance
EXPLANATION:
NO. BA- 019
AMOUNT: $55,000.00
Increase in Budgetary Fund Balance
AND Decrease in Budgetary Fund Balance
X No effect on Budgetary Fund Balance
This budget amendment is requested to provide for the following:
To increase expenditure appropriations for Central Library renovation funded from donations deposited in Library
Foundation liability account.
ACCOUNTING ENTRY:
BUDGETARY FUND BALANCE
Fund Account
REVENUE ESTIMATES (3601)
Fund /Division Account
4010 5901
EXPENDITURE APPROPRIATIONS (3603)
Description
Description
Private Donations /Contributions
Amount
Debit Credit
$55,000.00
Signed
Signed:
Signed:
a
Financial Approval: Administrative Services Director
Administrative Approval: City Manager
City Council Approval: City Clerk
Automatic System Entry.
/ /',.2G -Q-?
Date
Date
Date
Description
Division
Number
4050
Central Library
Account
Number
8080
Services - Professional & Technical $30,000.00
Division
Number
4050
Central Library
Account
Number
8160
Maintenance & Repair Materials $25,000.00
Division
Number
Account
Number
Division
Number
Account
Number
Signed
Signed:
Signed:
a
Financial Approval: Administrative Services Director
Administrative Approval: City Manager
City Council Approval: City Clerk
Automatic System Entry.
/ /',.2G -Q-?
Date
Date
Date