HomeMy WebLinkAbout13 - BA-057 - Mariners Library ProjectCITY OF NEWPORT BEACH
CITY COUNCIL STAFF REPORT
Agenda Item No. 13
April 26, 2005
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: LINDA KATSOULEAS
LIBRARY SERVICES DIRECTOR, 949 - 717 -3810
Ikatsouleas @city.newport- beach.ca.us
SUBJECT: BUDGET AMENDMENT TO ACCEPT A CHECK FROM THE NEWPORT
BEACH LIBRARY FOUNDATION AND APPROPRIATE FUNDS FOR
FY04 -05 MARINERS LIBRARY PROJECT.
RECOMMENDATION:
Approve a Budget Amendment to increase revenue estimates by $37,500 in Account
No. 450 -5893 (NB Library Foundation Donations) and increase Mariners Library
expenditure estimates in 7451- C5100756 by $7,500 and in 7451- C5100661 by $30,000.
DISCUSSION:
The Newport Beach Public Library Foundation has given the Library a check for
$37,500, restricting their gift to the Build a New Mariners Library project. The Newport
Beach Public Library will spend these funds to support the completion of the Mariners
Library.
The entire donation will be spent from the expenditure accounts as specified below:
7451- C5100756 (Mariners Library Related "Non- Construction" Expenses)
Mariners Proiect 1 $7,500
7451- C5100661 Mariners Library Construction Ex enses
Mariners Proiect 1 $30,000
Total Amount of Check
Submitted by:
Linda Katso Teas, Library Services Director
Attachments: Copy of check for $37,500 from NBPLF
Tracy Keys, Executive Director, NBPLF
$37,500
Newport Beach Library Foundation oso2
1000 Avocado Ave.
Newport Beach, CA 92660 -7915
949 - 717 -3890
I,
PAY TO THE
ORDER OF _
Thiry-S
is
Public
WELLS FARGO BANK 1503
NATIONAL ASSOCIATION
AGOURA HILLS, CA 91301
162411220
3/9/2005
•*37,500.00
Five Hundred and LI W
DOLLARS
Newport Beach Public Library
1000 Avocado Avenue
Newport Beach, CA 92660
11.00150311' I :1 2 2000 24 71 :321254160511'
City of Newport Beach NO. BA- 057
BUDGET AMENDMENT
2004 -05 AMOUNT: $s7,soo.00
EFFECT ON BUDGETARY FUND BALANCE:
Increase Revenue Estimates Increase in Budgetary Fund Balance
�X Increase Expenditure Appropriations AM X Decrease in Budgetary Fund Balance
Transfer Budget Appropriations No effect on Budgetary Fund Balance
SOURCE:
from existing budget appropriations
from additional estimated revenues
PX from unappropriated fund balance
EXPLANATION:
This budget amendment is requested to provide for the following:
To increase revenue estimates and expenditure appropriations due to receipt of a donation from the Newport Beach
Library Foundation. Funds will be used to support the completion of the Mariners Library.
ACCOUNTING ENTRY:
BUDGETARY FUND BALANCE
Fund Account
REVENUE ESTIMATES (3601)
Fund /Division Account
450 5893
EXPENDITURE APPROPRIATIONS (3603)
Description
Description
Newport Beach Library Foundation
Signed:
Signed:
Signed:
Financial Approval: Administrative Services Director
Administrative
City Manager
City Council Approval: City Clerk
Amount
Debit Credit
$37,500.00
$7,500.00
$30,000.00
Date
o�
Date
Date
Description
Division
Number
7451 Mariners Library
Account
Number
C5100756 Mariners Library Non - construction
Division
Number
C5100661 Mariners Library Construction
Division
Number
Account
Number
Division
Number
Account
Number
Signed:
Signed:
Signed:
Financial Approval: Administrative Services Director
Administrative
City Manager
City Council Approval: City Clerk
Amount
Debit Credit
$37,500.00
$7,500.00
$30,000.00
Date
o�
Date
Date