Title
Ordinance to Amend Various Funds to Comply with Accounting Requirements of GASB Statement No. 87 Regarding Leases and of GASB Statement No. 96 Regarding Subscription-Based Information Technology Arrangements
Body
LEGISLATIVE INTENT/PURPOSE:
WHEREAS, the City is required to comply with the accounting requirements of Governmental Accounting Standards Board (“GASB”) Statement 87 regarding leases and Statement 96 regarding subscription-based information technology arrangements for the fiscal year ending June 30, 2024; and,
WHEREAS, City staff has reviewed the City’s agreements and has identified those that are subject to the GASB requirements, and this ordinance appropriates debt service expense and capital expense for certain City lease and subscription agreements that are subject to the accounting standards.
THEREFORE, BE IT ORDAINED:
THAT, the following appropriations are hereby made to the General Fund, the Building Improvements Capital Projects Fund, the Technology Replacement Fund and the Parking Management Fund, and that the following revenues are available to meet these appropriations; and,
THAT, the Finance Director is authorized to make adjustments between the allocations of operating expenses and debt service within the same fund as necessary to comply with the accounting standards:
GENERAL FUND
Appropriation
10050210 532099 Supplies Materials/Other ($11,234)
10081100 548082 Nondept / Disease Management ($9,450)
10020000 544042 Other Services/Maintenance Contracts ($3,185)
10040210 544041 Other Servcies / Service Contracts ($17,988)
10040215 544013 Other Services / Rent Property Buildings ($9,235)
10040310 544013 Other Services / Rent Property Buildings ($38,009)
10091100 580040 Lease Principal $80,151
10091200 580042 Lease Interest $8,950
10040310 555082 Capital/Leases $394,156
10015000 544022 Other Services/Software License ($10,747)
10017000 544022 Other Services/Software License ($894,913)
10081100 545046 Nondept / Technology Projects ($4,640)
10040310 531060 Prof Services / Other ($12,323)
10050210 532099 Supplies & Materials / Other ($4,172)
10013000 544091 Other Services / Dues / Subscriptions ($9,360)
10017000 531060 Prof Services / Other ($58,779)
10040310 554910 Noncapital / Furn Fixt Equipment ($843,587)
10091100 580041 SBITA Principal $1,760,411
10091200 580043 SBITA Interest $22,810
10015000 555084 Capital/SBITA $30,469
10017000 555084 Capital/SBITA $1,072,209
10040310 555084 Capital SBITA $3,650,840
Revenue
10009415 333010 Lease Liabilities Issued $394,156
10009415 333012 SBITA Liabilities Issued $4,698,218
BUILDING IMPROVEMENTS CP FUND
[Building Maintenance - 4GGMF1705]
Appropriation
4GGMF1705-IMPBLDGS-CPSOFTWRE ($6,722)
4GGMF1705-IMPBLDGS-XDEBT-PRINCIPAL $6,094
4GGMF1705-IMPBLDGS-XDEBT-INTEREST $628
TECHNOLOGY REPLACEMENT FUND
Appropriation
65017000 554925 Computer Replacement ($ 283,942)
65091100 580040 Lease Principal $ 275,140
65091200 580042 Lease Interest $ 8,802
65017000 555082 Capital/Leases $ 603,385
65017000 544022 Other Services / Software Rent ($572,121)
65091100 580041 SBITA Principal $572,121
65017000 555084 Capital/ SBITA $1,668,428
Revenue
65009415 333010 Lease Liabilities Issued $603,385
65009415 333012 SBITA Liabilities Issued $1,668,428
PARKING MANAGEMENT FUND
Appropriation
55012554 544045 Lease Purchase Payments ($ 182,963)
55091100 580040 Lease Principal $ 160,012
55091200 580042 Lease Interest $ 22,951