City of Racine - File #: 13-9618

• File #: 13-9618
• Version: A
• Name: Communication from the Finance Director requesting to appear before the Finance and Personnel Committee at their next scheduled meeting on December 9, 2013 to request audit related adjustments to the 2013 and 2014 adopted CIP budget. (Res. No. 13-0487)
• Type: Communication
• Status: Passed
• File created: 12/4/2013
• In control: Finance and Personnel Committee
• Final action: 12/17/2013
• Title: Subject: (Direct Communication) Communication from the Finance Director requesting to appear before the Finance and Personnel Committee at their next scheduled meeting on December 9, 2013 to request audit related adjustments to the 2013 and 2014 adopted CIP budget. (Res. No. 13-0487) Recommendation of the Finance and Personnel Committee on 12-9-13: The 2013 Bonded Capital Improvement budget be amended to properly reflect the Equipment Replacement bond proceeds by Increasing accounts 993.000.6030, Bond Proceeds, and account 993.944.4940, Transfer to Equipment Replacement, by $2,000,000. Further recommend that the 2014 Bonded Capital Improvement budget be amended to properly reflect the Equipment Replacement bond proceeds by Increasing accounts 994.000.6030, Bond Proceeds, and account 994.945.4940, Transfer to Equipment Replacement, by $2,000,000. Fiscal Note: The amendments will allow for the proper accounting of bond proceeds.
• Related files: Res.13-0487

Date	Ver.	Action By	Action	Result
12/17/2013	A	Common Council	Approved as Presented	Pass
12/9/2013	A	Finance and Personnel Committee	Recommended For Approval	Pass

Title

Subject: (Direct Communication) Communication from the Finance Director requesting to appear before the Finance and Personnel Committee at their next scheduled meeting on December 9, 2013 to request audit related adjustments to the 2013 and 2014 adopted CIP budget. (Res. No. 13-0487)

Recommendation of the Finance and Personnel Committee on 12-9-13:  The 2013 Bonded Capital Improvement budget be amended to properly reflect the Equipment Replacement bond proceeds by Increasing accounts 993.000.6030, Bond Proceeds, and account 993.944.4940, Transfer to Equipment Replacement, by $2,000,000.

Further recommend that the 2014 Bonded Capital Improvement budget be amended to properly reflect the Equipment Replacement bond proceeds by Increasing accounts 994.000.6030, Bond Proceeds, and account 994.945.4940, Transfer to Equipment Replacement, by $2,000,000.

Fiscal Note:  The amendments will allow for the proper accounting of bond proceeds.