HomeMy WebLinkAbout12/05/2018 5KAGENDA BILL
CITY OF BREMERTON 5 K
CITY COUNCIL
SUBJECT: Resolution No. 3313 authorizing
the Transfer of Assets between General
Government, City Utilities, and Equipment
Rental Reserve Funds
Study Session Date: November 28, 2018
COUNCIL MEETING Date: December 5. 2018
Department: Finance
Presenter: Michael Riley
Phone: (360) 473-5303
SUMMARY: The City completed the Lower Wheaton Way and Washington Avenue projects, both of
which included Utility improvements. The projects were constructed in General Government Capital
Project Funds. Upon completion of the projects, the Utility assets must be contributed to the
applicable funds. Additionally, the Water Fund purchased two vehicles in 2016 that must be
contributed to the Equipment Rental Reserve Fund to ensure reserves are accumulated for the
replacement of these vehicles at the end of their useful lives.
ATTACHMENTS: A) Resolution No. 3313
B) Finance Staff Memo
FISCAL IMPACTS (Include Budgeted Amount): Amounts are detailed in the attached Finance
Staff Memo.
STUDY SESSION AGENDA: ❑ Limited Presentation ❑x Full Presentation
STUDY SESSION ACTION: ❑x Consent Agenda ❑ General Business ❑ Public Hearing
RECOMMENDED MOTION: Move to adopt Resolution No. 3313 authorizing the Transfer of Assets
between the General Government, City Utilities, and Equipment Rental Reserve Funds.
COUNCIL ACTION:.Approve
Form Updated 01/02/2018
❑ Deny ❑ Table ❑ Continue ❑ No Action