Executive/Council Action Form (ECAF)
ITEM TITLE:
Title
Ordinance 24-089, related to the 2024 Budget; making an emergency appropriation in the Evergreen State Fairgrounds Capital Improvements and Operating Reserve Fund 180 to authorize expenditure of prior year surplus revenues and admission tax revenues to support costs associated with the Fairgrounds
body
DEPARTMENT: Department of Conservation and Natural Resource
ORIGINATOR: Jana Notoa
EXECUTIVE RECOMMENDATION: Lacey Harper 9/16/24
PURPOSE: The purpose of this ordinance is to recognize additional appropriation authority in the DCNR’s Fairgrounds Reserve Fund 180, General Fund 002, for the 2023 Fairgrounds’ operating surplus that exceeded the amounts transferred in 2023
BACKGROUND: Each year, Parks and Finance staff work together in assessing the surplus operating revenues for the fairgrounds and attached is the DCNR-Parks Division 2023 Fiscal Recap for the Evergreen State Fairgrounds. In 2023, Admission Tax revenue of $ 200,000 was transferred as a budgeted operating transfer out to Fund 180; which was less than the $221,041 actually collected, requiring the additional amount of $21,041 to be transferred. Of the total 2023 Operating Surplus of $504,340, a transfer took place in 2023 of $382,330 leaving an operating surplus of $122,010 to be recognized. An Emergency Appropriation in General Fund 002 and Fairgrounds Cumulative Reserve Fund 180 in the amount of $143,051 will provide the operating transfer and spending authority for the balance of surplus and admission tax funds to be recognized. Through this action and the accompanying Ordinance, the surplus balance of operating revenues can be transferred for expenditure authority into the Fairgrounds Reserve fund for Capital Improvements per SCC 4.87.050 (2)
FISCAL IMPLICATIONS:
|
EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU |
CURRENT YR |
2ND YR |
1ST 6 YRS |
|
002.5169905543 Transfer out-Fund 180 |
$143,051 |
|
|
|
180.5095456501 Construction |
$143,051 |
|
|
|
|
|
|
|
|
TOTAL in each fund |
$143,051 |
|
|
|
REVENUE: FUND, AGY, ORG, REV, SOURCE |
CURRENT YR |
2ND YR |
1ST 6 YRS |
|
002.3169900800 Fund Bal |
$143,051 |
|
|
|
180.3095459720 Transfer in-Fund 002 |
$143,051 |
|
|
|
|
|
|
|
|
TOTAL in each fund |
$143,051 |
|
|
DEPARTMENT FISCAL IMPACT NOTES: Click or tap here to enter text.
CONTRACT INFORMATION:
|
ORIGINAL |
|
CONTRACT# |
|
AMOUNT |
|
|
AMENDMENT |
|
CONTRACT# |
|
AMOUNT |
|
Contract Period
|
ORIGINAL |
START |
|
END |
|
|
AMENDMENT |
START |
|
END |
|
OTHER DEPARTMENTAL REVIEW/COMMENTS: Reviewed/approved by: Finance (Brian Haseleu 9/16/24) and Prosecuting Attorney’s Office as to form only (George Marsh 7/23/24)