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HomeMy WebLinkAboutResolution No. 2012-056 RESOLUTION NO. 2012-56 A RESOLUTION AMENDING THE 2012 STREET DEPARTMENT BUDGET TO UTILIZE PARKING MAINTENANCE FUNDS COMMITTED BY RESOLUTION 2010-138 WHEREAS, the City of Columbia a Heights has levied and collected special assessments from various properties located from 39th Street NE to 41st Street NE, on both sides of Van Buren Street NE and the west side of Central Avenue NE, based on a determination of their relative parking needs and the terms of a development agreement under the Columbia Heights HRA; and WHEREAS, the City of Columbia Heights maintained the unspent balance of these assessments in a separate fund used solely for maintenance of its downtown parking facilities from 1986 through 2010; and WHEREAS, in 2011, the Governmental Accounting Standards Board (GASB)revised its reporting standards in a manner required that the unspent balance of these assessments be henceforth reported within the City's General Fund; and WHEREAS, the City of Columbia Heights, when implementing the revised GASB reporting standards, documented by resolution 2010-138 that the unspent balance of these assessments reported within the City's General Fund is committed for the specific purpose of downtown parking maintenance; and WHEREAS, the City of Columbia Heights estimates that the 2012 maintenance costs of its downtown parking facilities will be approximately$50,000; NOW, THEREFORE, BE IT RESOLVED that the 2012 street department budget (101-43121) within the City of Columbia Heights' General Fund be amended to utilize up to $50,000 of the balance committed for downtown parking maintenance by resolution 2010-138. Passed this 29th day of May 2012 Offered by: Williams Seconded by: Schmitt Roll Call: Ayes: Peterson, Williams, Nawrocki, Schmitt Absent: Diehm I . ayor Gary r'. Peterson Attest: Patricia Muscovit , CMC City F erk