Title
Ordinance No. 21-31 amending Ordinance No. 20-92 (2021 Appropriation Ordinance) to decrease the appropriation in the Grants Fund (103) in the amount of $2,586,451 and the HOME Grants Fund (102) in the amount of $315,715, and to increase the appropriation of the Pikes Peak America’s Mountain enterprise fund (460) in the amount of $750,000 for anticipated grants in 2021, and the CDBG Grants Fund (101) in the amount of $2,152,166, to correct the dollar amount of appropriation in each of these Grants Funds
Presenter:
Charae McDaniel, Chief Financial Officer
Chris Wheeler, Budget Manager
Body
Summary:
The attached Ordinance is a correction of appropriation in the grants and enterprise funds, as follows:
City Grants Fund (103): appropriation decrease of $2,586,451
HOME Grants Fund (102): appropriation decrease of $315,715
CDBG Grants Fund (101): appropriation increase of $2,152,166
Pikes Peak - America’s Mountain (460): appropriation increase of $750,000
The net effect of these corrections is $0. There is not an increase to the total appropriation across all funds. By making these corrections, it will align the appropriation in each fund with the anticipated grant awards in 2021. This ordinance will not amend any grants or projects that are planned for this year, it is simply reflecting the correct value for the grants and projects in 2021.There was an administrative error in the input of the amounts in the referenced grants funds into the 2021 Budget Appropriation Ordinance No. 20-92, for these amounts only. The error was not discovered because the total of the grants funds appropriations was correct. Background:
There was an administrative error in the input of the amounts in the referenced grants funds into the 2021 Budget Appropriation Ordinance No. 20-92, for these amounts only. The error was not discovered because the total of the grants funds appropriations was correct.
Previous Council Action:
On December 8, 2020, City Council approved the 2021 Budget per Ordinance No. 20-92, which included appropriations for the Grants Fund, CDBG Grants Fund, HOME Grants Fund, and Pikes Peak-America’s Mountain enterprise fund.
Financial Implications:
The attached ordinance will reduce the City Grants Fund (103) appropriation by $2,586,451 and the HOME Grants Fund (102) by $315,715. It will also increase the appropriation in the CDBG (101) Grants Fund by $2,152,166 and the Pikes Peak Enterprise Fund (460) by $750,000 for an anticipated grant in 2021. By making these corrections, it will align the appropriation in each fund with the anticipated grant awards in 2021. This ordinance will not amend any grants or projects that are planned for this year, it is simply reflecting the correct value for the grants and projects in 2021.The net effect of these corrections is $0. There is no impact to the City’s General Fund, and no TABOR implications.
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
This request was discussed with the City Council Budget Committee on February 9, 2021.
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move approval of the attached Ordinance amending Ordinance No. 20-92 (2021 Appropriation Ordinance) to decrease the appropriation in the Grants Fund (103) in the amount of $2,586,451 and the HOME Grants Fund (102) in the amount of $315,715, and to increase the appropriation of the Pikes Peak America’s Mountain enterprise fund (460) in the amount of $750,000 for anticipated grants in 2021, and the CDBG Grant Fund (101) in the amount of $2,152,166, to correct the dollar amount of appropriation in each of these Grants Funds
Summary of Ordinance Language
An Ordinance amending Ordinance No. 20-92 (2021 Appropriation Ordinance) to decrease the appropriation in the Grants Fund (103) in the amount of $2,586,451 and the HOME Grants Fund (102) in the amount of $315,715, and to increase the appropriation of the Pikes Peak America’s Mountain enterprise fund (460) in the amount of $750,000 for anticipated grants in 2021, and the CDBG Grant Fund (101) in the amount of $2,152,166, to correct the dollar amount of appropriation in each of these Grants Funds