Posted: September 22, 2017
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF092717-03

Agenda Item Title:

Approve Resolution 2017-085, A Resolution to Transfer Funds from the Utility Support Fund to the Capital Improvements & Vision Fund’s Capital Improvements Account

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
09/27/2017
City Council Hearing Date:
10/02/2017
City Council Second Reading Date:
11/30/-0001
Staff Contact:
Pauline Sumption & Wade Nyberg
Agenda Item Summary:
This Resolution is a cleanup item following the sales tax reallocation ordinance. The projects funded by 2017 Utility Support Fund dollars will remain with the fund until closeout. Projects and programmed funding for 2018 forward will transfer to CIP. Any money remaining in the fund after 2017 projects are closed out will be transferred to the Capital Improvements Account within the CIP/Vision Fund.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
This Resolution will have no fiscal impact, as it just carries out the plan put in place by the sales tax reallocation.

Recommendations:

Origination Recommendation Action:
Approve

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