2012 2:00:00 PM

Monday, June 25, 2012 2:00 PM
745 4th Street, Sparks, NV 89431

General Business: 6.3

Title: Consideration and possible adoption of Resolution No. 3217 to augment the 2011/2012 Rec & Parks District 1 Fund budget of the City of Sparks.

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

Recommendation: That Council adopt the resolution as recommended by staff

Financial Impact: $230,000 increase to 2011/2012 appropriations in the Rec & Parks District 1 Fund (1406) from available resources.

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

Agenda Item Brief: The procedures and requirements for budget augmentations are outlined in NRS 354.598005 and NAC 354.410. The augmentation request meets those requirements.

Background: 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 a capital project fund, 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 A1 & A2 with this agenda item) be submitted along with the resolution to the State of Nevada Department of Taxation.

Analysis: Community Services is currently building the “Wedekind Park & Trails Neighborhood Parks Phase III.” This project was approved on the FY 2010/2011 Capital Improvement Plan, but wasn’t completed or encumbered during that year. In order to complete this previously approved CIP project and not violate NRS budgeting requirements it is necessary to augment the 2011/2012 budget. Unappropriated fund balance is available in the Rec & Parks District 1 Fund. Attached is a resolution to augment the City’s Capital Projects funds. Augmentation of the Capital Project Funds budget will be effective upon delivery of an executed copy of the resolution to the Department of Taxation. Delivery must be before June 30, 2012.

Alternatives: Council could decide not to adopt the resolution to augment the 2011/2012 Rec & Parks District 1 Fund budget of the City of Sparks. This would cause expenditures in the fund to exceed appropriations, and would therefore be a violation of NRS 354.626. The violation would be noted in the audited financial statements. Council could decide to adopt the resolution to augment the 2011/2012 Rec & Parks District 1 Fund budget of the City of Sparks and provide necessary appropriations for the previously approved, prior year CIP project.

Recommended Motion: I move to adopt resolution No. 3217 to augment the 2011/2012 Capital Projects budget of the City of Sparks.

Attached Files:

FY12 PY CIP Augmentation Attachments A1&2.pdf

FY12 Resolution - PY CIP augmentation.docx

FY12 Resolution - PY CIP augmentation.pdf

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