ORD 94-27 ADOPTING FINAL BUDGETORDINANCE 94 - 27
AN ORDINANCE OF THE CITY OF BAINBRIDGE ISLAND ADOPTING
THE FINAL BUDGET OF THE CITY FOR THE FISCAL YEAR ENDING
DECEMBER 31, 1995.
WHEREAS, on September 9, 1994, the Finance Director submitted to the Mayor
estimates of revenues and expenditures for the fiscal year ending December 31, 1995
(this date being prior to the date required by law); and
WHEREAS, The Mayor reviewed the estimates and made such changes and/or
additions as she deemed appropriate, and on November 1, 1993 (the date required by
law), filed said revised preliminary budget with the City Clerk together with a budget
message, and this preliminary budget and message was presented to the Finance
Committee of the City Council at its regular meetings on November 3 and November
17, 1994 and at a special meeting on November 10, 1994, and
WHEREAS, the City Council met on the above dates, reviewed the preliminary
budget and scheduled final hearings thereon beginning on December 1, 1994, for
the purpose of providing information to the public regarding the estimates and
programs contained in the preliminary budget and at which hearing all taxpayers
were heard who appeared for or against any part of said budget; and
WHEREAS, the City Council met regarding the proposed budget on
December 15, 1994, for the purpose of fixing a final budget and at which meeting
the City council made such changes as it deemed necessary and proper; now,
therefore,
THE CITY COUNCIL OF THE CITY OF BAINBRIDGE ISLAND,
WASHINGTON, DO ORDAIN AS FOLLOWS:
SECTION 1. The final budget for the fiscal year 1995 is hereby adopted
in full. Three copies of the entire budget document are to be placed on
file with the office of the City Clerk for public inspection.
SECTION 2. Attached hereto and identified as Exhibit A, in summary form,
are the totals of budgeted resources and uses for each separate fund and the
aggregate totals for all such funds combined.
SECTION 3. In addition to the amounts approved by this ordinance, such
interfund loans as are needed to finance all L.I.D. construction projects are authorized
at an interest rate of 5.50 % from the same funds as shown in Ordinance 94— 30.
SECTION 4. In addition to the amouunts approved by this ordinance,
because of the budgeted reduction in fund balances, this Ordinance (No. 94-27)
specifically authorizes all interfund loans and/or residual equity balance transfers as
are needed to maintain positive fund balances with the source of those transfers to be
determined by the Finance Director together with the City Administrator provided
no transfers shall be made between governmental type funds and the City's
enterprise (utility) funds.
SECTION 5. A complete copy of the final budget for 1995, as adopted,
together with a copy of this ordinance shall be transmitted by the City Clerk to
the Division of Municipal Corporations of the Office of the State Auditor and to
the Association of Washington Cities.
SECTION 6. This ordinance shall take effect on January 1, 1995.
PASSED by the City Council this 15th day of December, 1994.
APPROVED by the Mayor this 16th day of December, 1994.
ATTEST/AUTHENTICATE:
SAN P. KASPER, City Clerk
APPROVED AS TO FORM:
ROD P. KASEGUMA, City Attorney
FILED WITH THE CITY CLERK:
PASSED BY THE CITY COUNCIL
PUBLISHED:
POSTED:
EFFECTIVE DATE:
ORDINANCE 94 — 27
C-Lixt4 �/ U�4 r,
JANET K. WEST, Mayor
November 1, 1994
December 15, 1994
December 21, 1994
December 21, 1994
January 1, 1995
EXHIBIT A
ORDINANCE NO. 94 — 27
APPROVING THE 1995 BUDGET
BUDGET RESOURCES AND EXPENDITURES BY FUND:
FUND NO.
FUND NAME
RESOURCES / USES
001
CURRENT EXPENSE FUND
819091540.53
101
STREETS FUND
21270,734.81
103
REAL ESTATE EXCISE
1,597,788.93
105
EQUIPMENT ACQUISITION FUND
82,579.63
110
GRANTS FUND
83004.80
201
G.O. BOND REGULAR LEVY
583,256.95
203
L.I.D. BOND FUND
2287371.56
301
L.I.D. CONSTRUCTION FUND
8637810.52
401
UTILITY FUND
3,5769798.53
402
REVENUE BOND FUND
1,2779473.77
403
UTILITY CONSTRUCTION FUND
117209416.90
404
UTILITY CAPITAL IMPROVEM'T FUND
1,6221735.89
501
SELF INSURANCE FUND
4841536.28
622+
MISC., TRUST, ETC.
8799860.85
$24 , 928, 510
Revised December 15, 1994
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