HomeMy WebLinkAbout02-081 AGENDA BILL
BREMERTON CITY COUNCIL
1. SUBJECT: RESOLUTION NO. ~ ~'~ FOR AGENDA OF: 04/24/02,<~
AUTHORIZING AN INTERFUND LOAN FROM THE ORIGINATING DEPT: Trea,,~r~
EQUIPMENT RENTAL FUND TO THE GENERAL FUND AND ORIGINATOR: R~. Hanna
RELATED BUDGET ADJUSTMENT. DATE SUBMI'I-I'ED: 04/15/2002
2. CLEARANCES: Comment of back if necessary) 3. EXHIBITS:
Attome~ Proposed Resolution
Dir. Admin~'Serv.~ Budget Adjustment Request 2002
Operations ~~~
E NDORSE,,ME,~,,~,,~,,~,,~,,~,,~ ~AT I O N APPROVED BY COUNCIL PRESIDE NT FOR SUBMI'I-I'AL:
MAYOR~'''/~,~,..,-, 7-~----~~._-/---/--(V~-''''-'''--'---~ COUNCIL PRESIDENT ~-~/~ ~_.~--~)
4. SUMMARY STATEMENT AND REQUIREMENT FOR COUNCIL ACTION:
The proposed resolution and budget adjustment will provide for the use of an interfund loan with which to finance the
cash flow of the General Fund. This financing is usually accomplished through the issue of a Tax Anticipation Note
or TAN, however conditions in the financial markets have made the usual financing method unattractive.
8. I :
1. MOV~ to approve Resolution No. ~,,~'~authorizing the inter-fund loan from the Equipment Rental Fund to the
General Fund.
2. Move. to approve Budget Adjustment 2002 #9.
9. REBPONSIBLE OFFICIAL: Treasurer
ENFORCEMENT OFFICIAL: Mayor
EXPIRATION DATE: 12/31/2002
REVIEW DATE: N/A
10. NOTICE OF ACTION
PULLED __ TABLED ~ APPROVED /DISAPPROVED ~ AMENDED __
COUNCIL DIRECTIVE:
11. AGENDA BILL NO: ~- ~/
CLEARANCE COMMENTS:
$. IMPACT ON NON-PASSAGE:
The City's General Fund will operate for much of the year with a negative cash balance.
6. IMPACT ON STAFFING. BUDGETS. FACILITIES. EQUIPMENT OR OTHER RESOURCES:
As indicated in the attached budget adjustment request.
7. RESEARCH SOURCES:
Staff analysis.