SEMINOLE – While it may appear on the surface as some type of windfall, it’s actually not.
Each year, the Seminole City Council passes an ordinance allowing for the transfer of leftover funds from a completed budget year to the current budget. The only thing that changes is the amount.
This year the amount is $435,836, which got the thumbs-up on first reading at the Feb. 26 City Council meeting.
“This is part of the annual year-end closeout process where the auditors come in and review our activities for the year,” said City Manager Frank Edmunds. “These are financial commitments we have made and have not yet fully satisfied. It’s either a contract for service or a purchase that was not completed by year-end and had to carry over to the current year.
“It’s a process we do every year that recognizes those financial commitments that were made in one fiscal year and won’t be paid out until the following fiscal year.”
This year, a balance of $170,705 will come from the General Fund, $128,500 from the Infrastructure Fund and $136,631 from the Capital Improvement Projects fund.
The allocation will be as follows:
• $142,962.31 to Public Works for professional services
• $27,742.82 to Finance for computer software
• $128,500 to the Infrastructure account for library expansion
• $97,696.40 to the CIP fund for vehicles
• $38,735 to the CIP fund for equipment.
In other action, councilors:
• Authorized Edmunds to enter into release, waiver and indemnify agreement with the Seminole Mall for the 2013 Pow Wow Festival Parade on March 9. The ownership of the mall requires the agreement prior to allowing use of the parking lot for a staging area for the parade.
• Reappointed Les Milewski, William Mills and Jack Russell for two-year terms on the city’s Development Review Board.
The City Council meets next on Tuesday, March 12, 7 p.m., at City Hall.