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Council approves supplemental budget to record shuttle purchase for senior center
Summary
Council adopted Resolution 2003 to record loan proceeds and appropriate funds for a newly purchased senior center shuttle; council approved transfers and a supplemental budget and recorded a 6-0 roll-call vote.
Monmouth City Council on Jan. 21 adopted Resolution 2003, approving transfers and a supplemental budget to account for a recently purchased senior center shuttle.
City Finance Director Susie Marston told the council the city financed the shuttle purchase after the current budget was prepared; the city recorded loan proceeds of $119,490 and appropriated them to the equipment purchase line to reflect the transaction. "We essentially received cash to purchase the shuttle. So we need to do a supplemental budget so that we can account for the transactions related to this purchase," Marston said.
Marston said the city is reallocating existing budget authority: $23,000 that had been budgeted for facility lighting improvements will be used to cover loan servicing; of that amount, $15,000 will cover debt service payments through June because the lighting upgrade actually occurred in the previous fiscal year. The finance director said the city plans to pay off the loan after July 1 using $80,000 donated by the Friends of the Senior Center along with city funds previously earmarked for a kitchen remodel. "Our plan is to pay the loan off after July 1 using the rest of the $80,000 that the Friends of the Senior Center donated along with the city's money," Marston said.
Councilor McHugh moved adoption of Resolution 2003; Councilor McKeel seconded. The council approved the resolution on a roll-call vote of 6-0. The roll call in the packet recorded the following yes votes: Councilor McKeel; Councilor Lopez; Councilor Ridgeway; Councilor Oberst; Councilor Belt; Councilor Kerrey. The mayor announced the motion passed 6-0.
Marston said the purchase will be legally recorded in the supplemental budget so the city can make debt service payments; she also noted the city is still seeking other funding for the senior center kitchen remodel.
Councilors discussed the shuttle's arrival and a planned ribbon-cutting; staff confirmed the shuttle arrived in town the prior Saturday.
