HomeMy WebLinkAboutAuthorizing the Temporary Transfer of Idle Funds form Water Work #620 to Water Works #644Attest:
RESOLUTION
3142 -02
Passed by the Common Council of the City of South Bend, Indiana
December 9, 20 02
Presented by me to the Mayor of the City of South Bend, Indiana
December 12,
Approved and signed by me
City Clerk
President of Common Council
20 02.
City Clerk
�W
RESOLUTION NO. 2- co,
A RESOLUTION OF THE SOUTH BEND COMMON COUNCIL AUTHORIZING THE
TEMPORARY TRANSFER OF IDLE FUNDS FROM THE WATER WORKS
GENERAL FUND ( #620) TO THE WATER WORKS LEAK INSURANCE FUND ( 9644)
WITHIN THE CIVIL CITY OF SOUTH BEND, INDIANA
WHEREAS, it is necessary to provide funds for the Water Works Leak Insurance Fund
No. 644, in order to meet the current operating expenses; and
WHEREAS, there are idle funds on deposit to the credit of the Water Works' General
Fund No. 620, which can be temporarily advanced or transferred to the aforementioned fund;
and
WHEREAS, Indiana Code 36 -1 -8 -4 authorizes the Common Council of the City of South
Bend, by Resolution adopted by such Council, to advance and transfer to a depleted fund from
any other such fund, such amount and for such a period of time as may be prescribed in the
Resolution.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South
Bend, Indiana, as follows:
Section I. The City Controller of the City of South Bend is authorized to transfer an
aggregate amount not to exceed $200,000 from the Water Works General Fund No. 620 to the
Water Works Leak Insurance Fund No. 644. Any such transfers must be repaid by December 31,
2003.
FROM
MAXIMUM
TO
Water Works General Fund No. 620 $200,000 Water Works Leak Insurance
Fund No. 644
Section II. Such transfer shall be made for a period of time not to extend beyond
December 31, 2003, and any funds so transferred shall be returned and repaid to the Water
Works General Fund No.620.
Section III. This Resolution shall be in full force and effect from and after its passage
by the Common Council and approval by the Mayor.
Hod In Member of the Common Qouncil
PRESENTED ' :DEC jk 20 62 f.
NOT APPROVED
LORMAJ. Dii6u.��
ADOPTED �Z -��OL CiTY CLERK, SO. 05ML.�::.
COMMITTEE REPORT
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
02 -89 A RESOLUTION OF THE SOUTH BEND COMMON COUNCIL
AUTHORIZING THE TEMPORARY TRANSFER OF IDLE FUNDS
FROM THE WATER WORKS GENERAL FUND ( #620) TO THE
WATER WORKS LEAK INSURANCE FUND ( #644) WITHIN THE
CIVIL CITY OF SOUTH BEND, INDIANA
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.
Karl King
Chairman
209 N. KUN STREET
SUITE 207
SOUTH BEND, INomA 46601 -1200
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
SOUTH BEND WATER WORKS
JOHN F. STANCATI
DlRecroR
November 25, 2002
Mr. Roland Kelly, President
South Bend Common Council
227 W. Jefferson Blvd.
South Bend, Indiana 46601
Dear Mr. Kelly:
PHONE 574 /235 -9322
Fax 5741235 -9725
TDD 574/ 235 -5567
We are requesting that a transfer of funds be made from the Water Works General Fund into the
Leak Insurance fund in order to cover a year end shortfall. The shortfall is due to the increased
number of service line leaks and the additional cost due to larger cuts as required to improve the
street repairs.
This transfer of funds will also allow us another year to review the Water Leak Program, in hope
that a rate increase can be avoided next year.
Sincerely,
Min F. Stancati
Director
Attachment
V��f office
FOE 0 � 2���s
LOLMA j, OU08,'..._ -J
Cdr CLERIC. So,
!1130