06-175Council File # �',��
Green Sheet # ? .�'� �,�1
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA �j
Presented by
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WxExEqs, the RiverCentre construction account earns interest on the cash balance in the account that was previously estimated
at $12,177,679 for the life of the convention center construction project; and
Wai&xEns, the interest eamings aze now es[imated at $12,749,537, an increase of $571,471; and
WxexEas, final improvements of the RiverCentre can be completed with these additional interest eaznings; and
W�Rens, afrer the final impiovements aze complete, the remaining balance will be ased to pay debt service and the
construction account will be closed; and
Wi-taaEns, the Mayor, pursuant to Sea 10.07.04 of the City Chazter, recommends the following changes to the 1999 and 2006
budgets:
FINANCING PLAN:
RiverCentre Authority
P7-930-90300-6602
All Other Fund Financing
SPENDING PLAN:
RiveiCentre Authority
P7-930-90300-0560
P7-930-90300-0848
All Other Fund Spending
FINANCING PLAN:
GL-900-20101-7306
SPENDING PLAN:
GL-900-20101-0898
Interest Eaznings
Transfer to Deb[ Service
Building Improvements
Transfer from Capital Projects Fund
Building Improvements
Current
Budget Changes
12,177,679 571,471
64,964,495 0
77,142,174 571,471
0 141,265
0 430,206
77,142,174 571,471
0 312,851
0 312,851
Amended
Budget
12,749,015
64.964.495
77,713,645
141,265
430.206
77,713,645
312,851
312,851
TxExeFOaE, Ba iT RESOLVE�, that the Ciry Council approves these changes to the 1999 and 2006 budgets.
Requested by Depaztment of:
i � � � :�-�r� ��"��
BY: �'��`€ L.�
, c U �
Form Approved by City Attorne /�
Date /!i//.i��� /r,�00� BY� V�/-+� �. �%,(i{,�
Adopuon Certified by Council Secretary
By: �� � Form pro ed by ayor x ub 'ssi n to Council
Approv y ay r: Date BY�
By:
Adopted by Council:
� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet �
�$ – Financiffi Services
Conqct Person & Phone:
Todd Hurfey
266-8837
Must Be on
01-MAR-06
ContractType:
AR-RESOLU710N W/$ TR,qNSACiION
16-FEB-06 � Green Sheet NO:
o(,.-t15
3029742
-' Department SentToPerson InitiaUDate
U 'nancial ' u
Assign 1 'nancial ervi De artrnent irector
Number 2 'nancial rvices fficeFinanciaiServi
For
Routing 3 ' Attornes I �
Order 4 a r's OH'ice Ma r/Assistant
5 ,Council Citv Cnvnril
6 er& it erk
Total # of Sign r e P ages _( AI! L ocatio ns F Sig
Action Requested: �
Signamres requested on the attached resolufion changing the 1999 RiverCentre Authority budget.
Recommendations: Appro�e (A) or F
Planning Commission
CIB Committee
Citil Senice Commission
[IJH
Contracts MustAnswerthe Following
1. Has this person/firm e�er v,rorked under a contract for this department?
Yes No
2. Has this persoNfirtn e�er been a city employee?
Yes No
3. Does this persoNfirm possess a skill not nortnally possessed by any
cuRent city employee?
Yes No
Explain all yes answers on separate sheet and attach to green sheet
Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why): �
Final improvements of the RiverCentre can be completed with addiflonal interest eamings from the RiverCentre construcaon account.
AdvanWges If Approved:
Budget amendment will allow for improvements to the RiveLCentre.
Disadvantapes IfApproved:
Noae.
��� � � ����
Disadvantages If NotApproved:
Improvements will not be made to the Rive[Centre.
Total Amount of
Trensaction:
Fundi�q Source:
Financial information:
(Explain)
FEB '�'� 2006
$571,471
CosHRevenue Budgeted: Y
Activity Number:
February 16, 200610:32 AM Page 1 �