HomeMy WebLinkAbout10018-10 Transfer - Rainy Day Fund #102ORDINANCE No. a,o
Passed by the Common Council of the City of South Bend, Indiana
June 28,
Attest:
Attest:
Presented by me to the Mayor of the City of South Bend, Indiana
June 29, 20 10
City Clerk
~ ~~~
~esident of Common Council
City Clerk
Approved and signed by me June 2 9 ,
20 l o
Mayer
2~ 10
ORDINANCE NO. ~ ~~~(~~~~
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
INDIANA, TRANSFERRING MONIES FROM THE RAINY DAY FUND NO. 102 TO
DEPLETED FUNDS WITHIN THE CITY OF SOUTH BEND
STATEMENT OF PURPOSE AND INTENT
Due to the delays in receipt of certain property tax revenue and State of Indiana
revenue, it has become necessary to temporarily transfer monies from various Funds
within the City to depleted Funds to meet current operational expenses. All Funds from
which temporary transfers are to be made have monies sufficient to accommodate these
temporary transfers.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of
South Bend, Indiana, as follows:
Section I. The aggregate sum of $1,850,000 shall be transferred from the
following Funds as follows:
A. $1,850,000 from Fund No.102 Rainy Day Fund
Section II. The monies totaling an aggregate sum of $1,850,000 transferred per
Section I from Fund No.102 shall be deposited and loaned temporarily to the following
Funds:
A. $650,000 to Fund 313 HaII of Fame Debt Service; and
B. $700,000 to Fund 701 Fire Pension fund; and
C. $500,000 to Fund 702 Police Pension Fund.
Section III. All monies transferred under Section I to the Funds designated in
Section II shall be paid back to the originating Fund no later t~i December 31, 2010.
Section IV. This ordinance shall be in~roe grid effect from and after its
passage by the Common Council and approy'al of
Atte
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ity Cl k
Council
Presented by me to the Mayor of the City of South Bend, Indiana, on the
a ~`' day of ~l , 2010, at Q o'clock, . m.
Approved and signed by me on the
~ : ~' o'clock . m.
~_~y-~~o
1st READING
PUBLIC HEARING (D "L~" ( O
3rd READING (o - t ~ -(U"
NOT APPROVCD
REFERRED.
PASSED to ''1-~.' ~. O
Dep y City Clerk
Z `~ ~ day of , 2010, at
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Mayor, City outh Bend, Indiana
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g 2010
JUP~
JC`iPl VCflC~
CITY CLE%;Y,, BD• CG`~,1~1.
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
32-10 A BILL OF THE COMMON COUNCIL OF THE CITY OF
SOUTH BEND, INDIANA, TRANSFERRING MONIES
FROM THE RAINY DAY FUND NO. 102 TO DEPLETED
FUNDS WITHIN THE CITY OF SOUTH BEND
Respectfully report that they have examined the matter and that in their opinion,
this bill is being recommended to the full Council with a favorable
recommendation.
Ann Puzzello
Chairperson, Committee of the Whole
PREPARED 06/07/2010, 16:56:34 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS PAGE 2
PROGRAM: GM264L ACCOUNTING PERIOD 05/2010
outh Ben
_ _ __ `.a.
FUND 102 RAINY DAY FUND BEGINNING ENDING
----------------------------------------BALANCE__________RECEIPTS DISBURSEMENTS ~____-BALANCE
CASH
101.00-00 CASH 8,499,285.17 2,793.21 .00 8,502,078.38
TOTAL CASH 8,499,285.17 2,793.21 .00 8,50 .38
TOTAL FUND 102 8,499,285.17 2,793.21 .00 8,502,078.3
PREPARED 06/07/2010, 16:56:34 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS PAGE 35
PR GM264L ACCOUNTING PERIOD 05/2010
ity of uth Bend
---------- -------------------------------------------------------------------------------------------------------------------------
FUND 313 H LL OF FAME DEBT SERVICE BEGINNING ENDING
BALANCE RECEIPTS DISBURSEMENTS BALANCE
CAS
101.00-00 CASH 647,478.00- 5,571.00 .00 641,907.00-
TOTAL CASH 647,478.00- 5,571.00 .00 00-
TOTAL FUND 313 647,478.00- 5,571.00 .00 641,907.00-
PREPARED 06/07/2010, 16:56:34 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS PAGE 93
PR GM264L ACCOUNTING PERIOD 05/2010
ity o outh Bend
-------- --------------------------------------------------------------------------------------------------------------------------
FUND 701 IRE PENSION FUND BEGINNING ENDING
BALANCE RECEIPTS DISBURSEMENTS BALANCE
CASH
101.00-00 CASH 313,723.35 801.15 453,198.98 138,674.48-
TOTAL CASH 313,723.35 801.15 45 98.98 48-
TOTAL FUND 701 313,723.35 801.15 453,198.98 138,674.48-
/
5~~~~n3
PREPARED 06/07/2010, 16:56:34 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS PAGE 94
PROGRAM: GM264L ACCOUNTING PERIOD 05/2010
ity o uth Bend
---------- ---------- - -------- - --- --
FUND 702 P ICE PENSION FUND BEGINNING ENDING
BALANCE RECEIPTS DISBURSEMENTS BALANCE
CASH
101.00-00 CASH 721,191.24 321.33 523,511.61 198,000.96
TOTAL CASH 721,191.24 321.33 1 198,000.96
TOTAL FUND 702 721,191.24 321.33 523,511.61 198,000.96
~~~~ r~ ~
CITY OF SOUTH BEND STEPHEN J. LLIECKE, MAYOR
DEPARTMENT OF ADMINISTRATION AND FINANCE
GREGG D. ZIENTARA
WNTROiTFR
June 8, 2010
Derek Dieter, President
South Bend Common Council
County-City Building
227 W. Jefferson Blvd., 4`I' Floor
South Bend, IN 46601-1830
Re: Ordinance Borrowing Funds From Rainy Day Fund (#102)
Dear President Dieter:
Due to delays in receipt of certain property tax revenue and State of Indiana revenue, it is
necessary to transfer monies by June 30, 2010 from the Rainy Day Fund to three depleted
funds in order to meet operational expenses. All funds will be paid back by December
31, 2010. The total amount to be borrowed from the Rainy Day Fund is $1,850,000. The
cash balance in the Rainy Day Fund is currently $8,502,078.
I plan to present this ordinance at the Personnel & Finance Committee meeting on June
23, 2010. Thank you for your consideration in this matter.
Sincerely,
Gregg ientara
City Contr ler
c: Common Council Members
Mayor Stephen Luecke
COUNTY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 4660 1-1 830 ?~
PHONE 574/235-9216 FAx 574/235-9928 TDD 574/235-5567