2013 1:00:00 PM

Monday, May 13, 2013 1:00 PM
City Council Chambers, Legislative Building, 745 Fourth St, Sparks, NV

Consent Items: 5.2

Title: Consideration and possible adoption of Amendment #1 of Resolution No. 3232, amending the augmentation of the FY 12/13 Capital Projects and Special Revenue Funds budgets of the City of Sparks to provide budget for capital projects approved, but not completed in FY 11/12.

Petitioner/Presenter: Stacie Hemmerling, Budget Administrator/Stacie Hemmerling, Budget Administrator

Recommendation: That Council adopt the resolution amendment as recommended by staff.

Financial Impact: $3,731,742 increase to FY 12/13 appropriations in various Capital Projects Funds and in the Muni Court Admin Assessment Special Revenue Fund.

Business Impact (Per NRS 237):
A Business Impact Statement is not required because this is not a rule.

Agenda Item Brief: This item is to amend a resolution that was brought to you on January 14, 2013. Resolution No. 3232 contained errors which have been corrected in this amendment. The amendment does not change the amount of the budget augmentation, but simply corrects the amount of resources available for the augmentation.

Background: On January 14, 2013 the Council approved Resolution 3232 that allowed for the re-appropriation of prior year budget authority for capital improvement projects that were approved in FY 11/12, but not completed. It also provided budget authority to cover a higher than expected bid on the Golden Eagle Little League Park project. That resolution contained errors which have been corrected in this amendment. The errors were in the amounts listed as “available resources” in each fund. The available resources listed on the attached Resolution 3232 Amendment #1 are now correct.

Analysis: The provisions of NRS 354.598005(1) govern the procedures and requirements for augmenting or amending a budget; given that anticipated resources available exceed those estimated. Available resources are defined in NAC 354.410, and include unappropriated ending fund balances of Capital Projects Funds. To augment the budgets, NRS 354.598005 requires the governing board adopt a resolution providing for the augmentations. NAC 354.420 requires a “Revised Revenue Schedule” (included as Attachment B1 though B8 with this agenda item) be submitted along with the resolution to the State of Nevada Department of Taxation. The available resources of each of the capital projects funds to be augmented were listed incorrectly in Resolution 3232 and in the “Revised Revenue Schedule” that were adopted by Council on January 14, 2013. Those amounts have now been corrected, and available resources remain sufficient to allow for the augmentations as they were presented and approved on January 14, 2013. The Resolution simply needs to be corrected and re-submitted along with the corrected “Revised Revenue Schedule” to the State of Nevada Department of Taxation.

Alternatives: Council could decide not to adopt Amendment #1 of Resolution No. 3232, amending the augmentation of the FY 12/13 budget. This could cause expenditures in the funds to exceed appropriations, and would therefore be a violation of NRS 354.626. The violation would be noted in the audited financial statements.

Recommended Motion: I move to adopt Amendment #1 of Resolution No. 3232 amending the augmentation of the FY 12/13 Capital Projects Funds and Special Revenue Fund budgets.

Attached Files:

R 3232 Amend 1 budget augment.pdf

Amended FY13 bgt augmentation Attachment B1-B8.pdf

Original docs from Jan 14, 2013.pdf

Previous Item

Next Item

Return To Meeting