HomeMy WebLinkAboutReso 59-18 Fire Engine purchase• 0 Lei I Lei9 0 1 Z•
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REQUIREDTHE i18/19 BUDGET ADJUSTMENTS TOSUPPORT
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WHEREAS, the City of Morro Bay adopted the Fiscal Year 2018/19 budget, including $675,000
to purchase a new fire engine.
WHEREAS, the City of Morro Bay's adopted budget included appropriation of $275,000 from the
Bertha Schultz Donation Fund, $60,000 from the Measure Q fund, $73,500 from the Government Impact
Fees Fund, and the remainder of the expenditure to be financed through the manufacturing company;
and
WHEREAS, the City prefers to not pay interest on the financing of the fire engine and pay for the
engine with available cash; and
WHEREAS, the City has identified an additional $25,000 in the Bertha Schultz Donation Fund to
contribute towards the fire engine purchase; and
WHEREAS, the City has identified $20,374 in the General Government Vehicle Replacement
Fund to contribute towards the fire engine; and
WHEREAS, the City agrees to advance $225,000 from the General Fund Emergency Reserve
Fund towards the purchase of the fire engine with the understanding that these funds will be reimbursed
on a flat, annual basis in the amount of $56,250 from the Measure Q fund in FY 2019/203 2020/211
2021 /22 and 2022/23; and
WHEREAS, the City does not intend to charge interest on the advance from the GFER as it is in
the city's best interest to .balance the need for infrastructure repairs and maintenance with vehicle
needs; and
WHEREAS, the City Council authorizes a budget adjustment of $25,000 from fund balance in
additional appropriation from the Bertha Schultz Donation Fund (515-2350); and
WHEREAS, the City Council authorizes a budget adjustment to appropriate $20,374 from the
General Government Vehicle Replacement Fund (Fund 0550) fund balance with the understanding that
this amount will not be reimbursed from Measure Q; and
WHEREAS, the City Council authorizes a budget adjustment to transfer $225,000 from the
General Fund Emergency Reserve to the General Fund and an appropriation of that $225,000 within the
general fund to purchase the Fire Engine,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Morro Bay, California, that the
operating budgets of the City of Morro Bay are amended by the additional revenues and expenditures,
as shown on the attached schedule to support the purchase of a new fire engine in an amount not to
exceed $678,874; and
The City Council of the City of Morro Bay, California, accepts the repayment terms of the cash
advance from the City's General Fund Emergency Reserve over a four-year period with no interest and
repayment coming from the Measure Q fund.
PASSED AND ADOPTED by the City Council of the City of Morro Bay at a regular meeting
thereof held on the 141h day of August 2018, by the following vote:
AYES: Irons, Davis, Headding, Makbwetski, McPherson
NOES: None
ABSENT: None
ATTEST: L. JA E IRO , Ma r
NA SVVANSON, City Clerk
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