ORDINANCE NO. 090433

Reducing revenue and appropriations in the Parking Garage Fund in the amount of $860,000.00 for Fiscal Year 2009-2010.

WHEREAS, the contractual agreement for the operation of the KC Live Garage and the 13th and Walnut Garage between the City of Kansas City and the Cordish Company states that the Cordish Company is entitled to collect validation parking revenues; and

WHEREAS, all revenues due to the Cordish Company are recorded in collected revenue accounts and payments are made from like accounts; and

WHEREAS, the Fiscal Year 2009-10 budget reflected the collection of revenues at said garages as well as the reimbursement of these revenues to the Cordish Company in accordance with the outlined agreement, and this reflection overstates the actual revenues and corresponding expenses for reimbursement; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the revenue estimates in the following accounts of the Parking Garage Fund are reduced by the following amounts:

10-2160-891293-458000 KC Live Garage $800,000.00

10-2160-891297-458000 13th and Walnut Garage 60,000.00

TOTAL $860,000.00

Section 2. That the appropriations in the following accounts of the Parking Garage Fund are reduced by the following amounts:

10-2160-891293-B KC Live Garage $800,000.00

10-2160-891297-B 13th and Walnut Garage 60,000.00

TOTAL $860,000.00

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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.

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Jeffrey A. Yates

Director of Finance

Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney