Title
Ordinance No. 17-39 amending Ordinance No. 16-116 (2017 Appropriation Ordinance) for a supplemental appropriation to the General Fund in the amount of $100,000, and to the Conservation Trust Fund (CTF) in the amount of $150,000, for repair of the Bancroft Park Band Shell
Presenter:
Keith King, City Council Member
Kara Skinner, Chief Financial Officer
Body
Summary:
The attached ordinance is a supplemental appropriation for the General Fund in the amount of $100,000, and to the Conservation Trust Fund (CTF) Fund in the amount of $150,000, for repair of the Bancroft Park Band Shell.
Previous Council Action:
On November 27, 2016, City Council approved the 2017 Budget per Ordinance No. 16-116, which included the appropriation of funds for the General Fund and CTF Fund.
On March 13, 2017, City Council received an update on the steps that have been accomplished to date with regard to the Bancroft Band Shell.
Background:
The band shell at Bancroft Park was damaged by fire on January 27, 2017. On February 24, 2017, the band shell was boarded up by the Parks Department for the safety of the public and to protect the remaining structure. City Park and Risk Management staffs have been working through the insurance process to establish the extent of the damage and the loss that would be covered through the City's insurance policy. The immediate repairs to the Bancroft Park band shell and long term improvements to the facilities in Bancroft Park is in the best interests of the City, its citizens, and the Westside neighborhood.
Financial Implications:
The supplemental appropriation increases the 2017 General Fund expense budget by $100,000. The sources of funds are the insurance proceeds and the unrestricted fund balance.
The supplemental appropriation increases the 2017 CTF expense budget by $150,000. The source of funds is the CTF available fund balance. After this supplemental appropriation, there is approximately $242,000, or 5.5%, re...
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