The URL can be used to link to this page

Home My WebLink About9884-08 Transferring $66,702.11 in Dormant monies from various funds to General Fund No. 101 and closing out theORDINANCE No. JO. Passed by the Common Council of the City of Soutli Bend, Indiana November 24, Attest: Attest: 9884-08 20 08 Presented by me to the Nlayor of the City of South Bend, Indiana November 25, 08 20 _ City Clerk President of Common Council Approved attd sighed by me November 26 20 08 City Clerk Ma~br ORDINANCE NO. ~ b $ ~ ~~~ AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA TRANSFERRING SIXTY-SIX THOUSAND SEVEN HUNDRED TWO DOLLARS AND ELEVEN CENTS ($66,702.11) IN DORMANT MONIES FROM VARIOUS FUNDS TO GENERAL FUND NO. 101 AND CLOSING OUT THE VARIOUS FUNDS STATEMENT OF PURPOSE AND INTENT Presently the total sum of Sixty-Six Thousand Seven Hundred Two Dollars and Eleven Cents ($66,702.11) exists within various Funds of the City of South Bend. These funds are now and have been dormant for a year or more, and the purpose for establishing each fund no longer exists. It is therefore appropriate and efficient to close out and transfer the balance on hand in each account to the City's General Fund No. 101. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: Section I. The sum of Thirty-Three Cents ($0.33) shall be transferred from Build Indiana Fund No. 230 to General Fund No. 101, and Fund No. 230 shall be closed because the last Fund activity occurred in early 2006, and no further distributions to South Bend from the State of Indiana are expected. Section II. The sum of Four Thousand Five Hundred Fifty-One Dollars and Forty-Nine Cents ($4,551.49) shall be transferred from Redevelopment Bond -Studebaker Corridor Fund No. 310 to General Fund No. 101, and Fund No. 310 shall be closed because there will be no further activity in this Fund. Section III. The sum of Fifty-Two Thousand Seven Hundred Seventy Dollars and Forty- Five Cents ($52,770.45) shall be transferred from Redevelopment Bond -Century Center Fund No. 318 to General Fund No. 101, and Fund No. 318 shall be closed because it is no longer needed due to refinancing of Century Center bonds in 1998 and use of Fund No. 407 to pay the refinanced bonds. Section IV. The sum of Three Thousand Four Hundred Eight Dollars and Eighty-One Cents ($3,408.81) and the sum of Five Thousand Nine Hundred Seventy-One Dollars and Three Cents ($5,971.03) shall be transferred to General Fund No. 101 from EDIT Bond -Plaza Garage - Tax Exempt Fund No. 320 and EDIT Bond -Plaza Garage -Taxable Fund No. 321 respectively, and Funds Nos. 320 and 321 shall be closed because the Funds are no longer needed due to the refinancing of the Plaza Garage bonds in 2006 and final payment of Plaza Garage expenses in 2007. Section V. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. Attest: Member of th mmon Council i Cle k Presented by me to the Mayor of the City of South Bend, Indiana, on the ZS~. day of ~l~J~,lae.v , 200,x, at 3 '•`IS o'clock, . m. ~~ City Cler ~ ~~ -N ~".~' Approved and signed by me on the Z~ day of ~U`'v~'G~'~-; ?D9~'at ~~'n o'clock . m. ~~~-.- Mayor, City of Sot Bend, Indiana ~0-~8` 1st RE;',D'NG 3rd REF.DIP~G ~~.:Z,~-O~ NOT APP,~OVED REFERRED pp,SSED 1 ~ - 7i~' ~~ Fii~r~ in ~Sur~'~ Q~fice NOV - 5 ~Ou~ dOtifl VOOR~E CITY CLEQK, S0. BEND, (N. TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 71-08 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA TRANSFERRING SIXTY-SIX THOUSAND SEVEN HUNDRED TWO DOLLARS AND ELEVEN CENTS ($66,702.11) IN DORMANT MONIES FROM VARIOUS FUNDS TO GENERAL FUND NO. 101 AND CLOSING OUT THE VARIOUS FUNDS 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. Derek D. Dieter Chairperson, Committee of the Whole CoUNIY-CITY BUILDING 227 W. JEFFERSON BLVD. SOUTH BEND, INDIANA 46601-1830 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR PHONE 574/ 235-9216 FAx 574/235-9928 TDD 5741235-5567 DEPARTMENT OF ADMINISTRATION AND FINANCE M. CATHERINE FANELLO CONTROLLER November 3, 2008 Mr. Timothy A. Rouse President, South Bend Common Council 4`~' Floor, County-City Building South Bend, IN 46601 Re: Ordinance Transferring Dormant Monies in Five Separate Funds to the General Fund Dear Mr. Rouse: Attached for consideration by the Common Council is an ordinance transfemng to General Fund No. 101 a total of Sixty-Six Thousand Seven Hundred Two Dollars and Eleven Cents ($66,702.11) of dormant monies in five separate Funds and closing out those Funds. The ordinance explains in detail the Funds from which monies are to be transferred and the reason for closing each Fund. The Funds affected by this ordinance are: Build Indiana Fund No. 230 - ($0.33) Redevelopment Bond -Studebaker Comdor Fund No. 310 - ($4,551.49) Redevelopment Bond-Century Center Fund No. 318 - ($52,770.45) EDIT Bond-Plaza Garage Tax Exempt Fund No. 320- ($3,408.81) Taxable Fund No. 321 - ($5,971.03) I will present this Ordinance to the Common Council at its Personnel and Finance Committee meeting and at its regular meeting. Thank you for your assistance. ~'il~~~ E~ ~: i~;i'k's office {~' C'~.' - 5 2008 C.TY C. , ., r ~. ~'~5~, IN. nc ely, , M. Catherine Fanello Controller JANICE L. HALL JoxNMURrc-nr RosERTALLEN DIRECTOR ASSISTANT CONTROLLER DIRECTOR HUMAN RESOURCES INFORMATION TECHNOLOGY ~`~