HomeMy WebLinkAboutR-2019-028 Amending Fiscal Year 2018-2019 Budget Tourism Tax Fund and Community Development RESOLUTION NO. R-2019-028
A RESOLUTION AMENDING THE FISCAL YEAR 2018-2019 BUDGET FOR THE TOURISM
TAX FUND AND THE COMMUNITY DEVELOPMENT FUND OF THE CITY OF RIVERSIDE,
MISSOURI
WHEREAS, the Board of Aldermen find it is in the best interest of the citizens of the City
of Riverside to authorize and approve amendments to the Fiscal Year 2018-2019 Budget
authorized by Resolution R-2017-033 as set forth herein;
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE
CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
THAT the Annual Budget for the Community Development Fund and for the Tourism Tax
Fund for Fiscal Year 2018-2019 shall be amended to increase the amount of expenditures in
such funds to $775,000 and $181,000, respectively, as set forth in Exhibit 1 attached hereto and
incorporated herein; and
PASSED AND ADOPTED by the Board of Aldermen and APPROVED by the Mayor of the
City of Riverside, Missouri, the 16rd day of April 2019.
.3, Kath een L. Rose, Mayor
!-44
Robin'Itincaid,`City.Clerk
2018/19 Operating Budget
Capital Community Capital Equip Debt Service Tourism Tax Total
General Fund Improvement Fund Develop. Fund Fund Fund Fund All Funds
Permits &Licenses 145,500 - - - - - 145,500
Fees Fines&Forfeitures 249,500 - - - - - 249,500
Taxes 2,894,660 - - - - 190,000 3,084,660
Interest on Accounts 60,000 400 - 50,000 110,400
Miscellaneous 365,500 - - - - - 365,500
TIF Revenue - - 101,500 - 8,085,000 - 8,186,500
Reimb. from Other Entities 875,000 875,000
Sale of Land Proceeds - - - - - - -
Real Estate Income 4,400,000 4,400,000
Missouri Gaming Commission 6,700,000 - - - - - 6,700,000
Subtotal 14,815,160 875,400 101,500 - 8,135,000 190,000 24,117,060
Transfers From Other Funds 1,500,000 7,000,000 - 425,000 - - 8,925,000
Total Revenue 16,315,160 7,875,400. 101,500 425,000 8,135,000 190,000 33,042,060
Budget Amendment
i Donations 15,300 15,300
Total Amended Revenues 16,315,160 7,875,400 101,500 425,000 8,135,000 205,300 33,057,360
2018/19 Operating Budget
Capital Community Capital Equip Debt Service Tourism Tax Total
General Fund Improvement Fund Develop. Fund Fund Fund Fund All Funds
Expenditures
Elected Officials 62,826 - - - - - 62,826
Administration 1,574,889 - - 50,000 - 96,000 1,720,889
Human Resources 140,000 - - - - - 140,000
Municipal Court 231,309 - - - - - 231,309
PS Administration 530,663 - - - - - 530,663
Police Services 2,699,833 - - 152,000 - - 2,851,833
Operations Support 701,536 - - - - - 701,536
Fire 1,917,624 - - 100,000 - - 2,017,624
Public Works 1,405,051 - - 133,000 - - 1,538,051
Engneering 274,798 - - - - - 274,798
Building Maintenance 359,100 - - - - - 359,100
Parks 388,100 - - - - - 388,100
Community Center 525,380 - - - - - 525,380
Community Development 516,092 - - - - - 516,092
Board of Aldermen Contingency 3,503,000 - - - - - 3,503,000
Capital Project Expenditures - 8,725,000 750,000 - - - 9,475,000
Debt Service - - - - 6,699,000 - 6,699,000
Total Expenditures $ 14,830,200 $ 8,725,000 $ 750,000 $ 435,000 $ 6,699,000 $ 96,000 $ 31,535,200
Transfers To Other Funds 7,425,000 - - - 1,500,000 - 8,925,000
Total Expenditures &Transfers 22,255,200 8,725,000 750,000 435,000 8,199,000 96,000 40,460,200
Budget Amendment
1 Monarch Butterfly 85,000 85,000
2 QT Redevelopment 25,000 25,000
Total Amended Expenditures 22,255,200 8,725,000 775,000 435,000 8,199,000 181,000 40,570,200
06/30/18 Balance(Est) $ 14,026,002 $ 1,405,870 $ 3,125,005 $ 218,498 $ 4,249,992 $ 501,547 $ 23,526,914
06/30/19 Fund Balance $ 8,085,962 $ 556,270 $ 2,451,505 $ 208,498 $ 4,185,992 $ 525,847 $ 16,014,074
1 Monarch Butterfly artwork approved by Tourism Commission and Board of Alderman.
2 QT Redevelopment
Land Purchase $ 678,000
Prepurchase Testing 18,000
Legal Fees 27,000
Redevelopment 40,000
Demolition 12,000
Total $ 775,000