4.9. SR 12-18-2017 - Laserfiche WebLink

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Eclty1� ,.,�� Request for Action River To Item Number Mayor and City Council 4.9 Agenda Section Meeting Date Prepared by Consent December 18, 2017 Lori Ziemer, Finance Director Item Description Reviewed by 2017 Budget Amendments Cal Portner, City Administrator Reviewed by Action Requested Approve,by motion,budget amendments for the Fire State Aid and the Traffic Safety Enforcement Grant. Background/Discussion Budget amendments are intended to recognize changes to reflect major revenue and expenditure deviations from original budgeted amounts. Pass-through grants and state aids are received by a recipient government to transfer to a secondary recipient. As a general rule according to the Governmental Accounting Standards Board, the recipient government should recognize pass-through grants and state aids as revenues and expenditures. The city receives Fire State Aid which is transferred to the Elk River Fire Relief Association and a State Traffic Safety Enforcement Grant for participating law enforcement agencies. Past practice has been to net the revenue and expenditure rather than budgeting and reporting both the revenue and the expenditure. Thus, the proposed budget amendments are for accounting purposes only. Proposed budget amendments are for the following items: 1. Revenues: Intergovernmental revenues — Fire state aid $181,000 Intergovernmental revenues — State public safety grant $ 35,000 Total Revenues $216 000 2. Expenditures: Fire— Other retirement contributions $181,000 Police—Contractual services $ 35,000 Total Expenditures $216 000 Financial Impact The General Fund remains balanced for 2017. Attachments ■ 2017 Budget Amendment Summary The Elk River Vision A PehoMing community 2a itb revolutionary and spirited resourcefulness, exceptional POWERED By service, and community engagement that encourages and inspires prosperity INAWRE1