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Legislation #: 090683 Introduction Date: 8/6/2009
Type: Ordinance Effective Date: 9/6/2009
Sponsor: None
Title: Reducing surplus appropriations in the Liberty Memorial Endowment Fund; designating the Liberty Memorial Endowment Fund as a non-continuing fund of the City; transferring prior year revenue and other grant proceeds totaling $116,889.00 in the Liberty Memorial Project Fund to the Liberty Memorial Endowment Fund.

Legislation History
DateMinutesDescription
8/5/2009 Filed by the Clerk's office
8/6/2009 Referred to Finance and Audit Committee
8/12/2009 Hold On Agenda (8/26/2009)
8/26/2009 Advance and Do Pass as a Committee Substitute, Debate
8/27/2009 Passed as Substituted

View Attachments
FileTypeSizeDescription
090683.pdf Authenticated 84K AUTHENTICATED
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=090683 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=090683
Liberty Memorial-admin-approp.xls Other 323K Liberty Memorial Endowment-Budget
Liberty Memorial_Fiscal_Notes_2009.xls Fiscal Note 53K Liberty Memorial Endowment-Fiscal Note
Liberty Memorial-Fact_Sheet(1).XLS Fact Sheet 50K Liberty Memorial Endowment-Fact Sheet

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 090683

 

Reducing surplus appropriations in the Liberty Memorial Endowment Fund; designating the Liberty Memorial Endowment Fund as a non-continuing fund of the City; transferring prior year revenue and other grant proceeds totaling $116,889.00 in the Liberty Memorial Project Fund to the Liberty Memorial Endowment Fund.

WHEREAS, over the years, a total of $116,889.00 in cash has accumulated in the Liberty Memorial Project Fund; and

WHEREAS, the Liberty Memorial Project Fund was used to record all sales tax, interest earnings, and grants as well as record all capital expenditures associated with the reconstruction of the Liberty Memorial; and

WHEREAS, periodically the City receives payment for delinquent sales taxes, and has been reimbursed for all grant proceeds used for the project; and

WHEREAS, consistent with the intent of the voters, all cash accumulated in the Liberty Memorial Project Fund beyond what was needed for the project is to be transferred to the Liberty Memorial Endowment Fund; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the appropriations in the following accounts of the Liberty Memorial Endowment Fund are reduced by the following amounts:

AL-6510-702400-A Liberty Memorial $ 50,000.00

AL-6510-702400-B Liberty Memorial 205,000.00

AL-6510-702400-C Liberty Memorial 69,784.87

TOTAL $324,784.87

Section 2. That effective May 1, 2009, the Liberty Memorial Endowment Trust Fund (No. 6510) is designated as a non-continuing fund in the financial records of the City.

Section 3. That $116,889.00 is appropriated from the Unappropriated Fund Balance of the Liberty Memorial Project Fund to the following account in the Liberty Memorial Project Fund:

10-3140-129998-X Transfer to Liberty Memorial Endowment $116,889.00

Section 4. That revenue is estimated in the following account of the Liberty Memorial Endowment Trust Fund (No.6510):

AL-6510-120000-503140 Transfer from Liberty Memorial Project $116,889.00

 

_____________________________________________

 

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

 

 

___________________________________

Jeffrey A. Yates

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

William Geary

Assistant City Attorney