Loading...
Transmittal - 11/3/2022 MARY BETH THOMPSON Chief Financial Officer ERIN MENDENHALL Mayor DEPARTMENT OF FINANCE POLICY AND BUDGET DIVISION 451 SOUTH STATE STREET, ROOM 238 PO BOX 145467, SALT LAKE CITY, UTAH 84114-5455 TEL 801-535-6394 CITY COUNCIL TRANSMITTAL ___________________________________ Date Received: ________________ Lisa Shaffer, Chief Administrative Officer Date sent to Council: ___________ ______________________________________________________________________________ TO: Salt Lake City Council DATE: November 2, 2022 Dan Dugan, Chair FROM: Mary Beth Thompson, Chief Financial Officer SUBJECT: Salt Lake City Library Budget Amendment #1 SPONSOR: NA STAFF CONTACT: John Vuyk, Budget Director (801) 535-6394 or Mary Beth Thompson (801) 535-6403 DOCUMENT TYPE: Budget Amendment Ordinance RECOMMENDATION: The Administration recommends that, subsequent to a public hearing, the City Council adopt the following amendments to the FY 2022-23 Library Fund adopted budget. BUDGET IMPACT: REVENUE EXPENSE LIBRARY FUND $ 0.00 $ 0.00 LIBRARY CAPITAL PROJECTS FUND 0.00 1,300,000.00 TOTAL $ 0.00 $ 1,300,000.00 11/02/2022 11/02/2022 Lisa Shaffer (Nov 2, 2022 17:57 MDT) BACKGROUND/DISCUSSION: Library Administration is requesting a $1,300,000 increase to the FY23 capital projects fund budget. This increase is required to purchase property. Funding for the purchase is proposed to come from the fund balance of the Library’s General Fund. At the end of FY22, this fund balance was $9,041,857, which is 31.6 percent of the FY23 general fund budget. The FY23 budget already includes using $1,157,350 of this fund balance, leaving an available balance of $7,884,507, or 27.6 percent of the FY23 general fund budget. Using an additional $1,300,000 would result in the remaining available fund balance being $6,584,507 (22 percent) of the FY23 general fund budget. Detail of the property and process is included in the attached memo. PUBLIC PROCESS: Public Hearing Alejandro Sanchez (Nov 2, 2022 17:55 MDT) Alejandro Sanchez MEMO | November 2, 2022 To: Salt Lake City Administration and City Council From: Deborah Ehrman, Interim Executive Director Re: Budget Amendment 1 for FY2022-23 At the encouragement of Mayor Mendenhall and with City Council approval, a budget for operating costs for a Ball Park presence was included in the Library’s FY23 budget. For a number of months, Library Administration has been searching for suitable space to rent from which to provide limited library services to the Ball Park neighborhood. The couple of leasable properties that we looked at were either unworkable for our needs or the lease terms were not agreeable. In mid-October, a property came on the market for purchase in the Ball Park neighborhood. The property is a renovated old home that currently serves as a triplex. After viewing the property, Administration felt like the space would work for the services we currently want to provide and is a potential location for a future branch library. The Library entered into a contract to purchase the property. Purchasing property was not included as part of the FY23 budget because the intent was to lease space. In anticipation of purchasing the property under contract, Library Administration requested the Library Board consider a budget amendment for $1.3 million to the FY23 budget, which they approved at a special meeting held on October 26, 2022. However, City Administration and Council staff raised legitimate concerns with the process and lack of existing budget appropriation. As a result, the Library will terminate the contract if a funding contingency clause and closing date extension cannot be negotiated. Given challenges in finding suitable space to lease, the Library desires to proceed with the budget amendment request despite the potential termination of the contract. This amendment would mitigate some of the timing issues the Library encountered with the existing contract by properly appropriating the funds should a suitable property come on the market. The Library Board motion approving the budget amendment requires unidentified parcels of property go back to the Board for approval before purchase. Funding for the purchase is proposed to come from the fund balance of the Library’s General Fund. At the end of FY22, this fund balance was $9,041,857, which is 31.6 percent of the FY23 general fund budget. The FY23 budget already includes using $1,157,350 of this fund balance, leaving an available balance of $7,884,507, or 27.6 percent of the FY23 general fund budget. Using an additional $1,300,000 would result in the remaining available fund balance being $6,584,507 (22 percent) of the FY23 general fund budget. General Fund – Proposed increase of $1,300,000 Account Name Current Budget Amount Requested Amount Amended Budget Amount Funding Source Fund Balance-Appropriated $1,157,350 $1,300,000 $2,457,350 Totals $1,157,350 $1,300,000 $2,457,350 Expenditures Capital Outlay-Land $0 $1,300,000 $1,300,000 Totals $0 $1,300,000 $1,300,000 SALT LAKE CITY ORDINANCE No. ______ of 2022 (Amending the Final Budget for the Library Budget of Salt Lake City, Utah for Fiscal Year 2022-23) An ordinance amending Salt Lake City Ordinance No. 33 of 2022 which adopted the final budget for the Library fund of Salt Lake City, Utah, for the fiscal year beginning July 1, 2022 and ending June 30, 2023. PREAMBLE On June 14, 2022, the Salt Lake City Council adopted the final budget for the Library fund of Salt Lake City, Utah for the fiscal year beginning July 1, 2022 and ending June 30, 2023, in accordance with the requirements of Section 10-6-118 of the Utah Code. The City’s Budget Director, acting as the City’s Budget Officer, prepared and filed with the City Recorder proposed amendments to said duly adopted budget, copies of which are attached hereto, for consideration by the City Council and inspection by the public. All conditions precedent to amend said budget have been accomplished. Be it ordained by the City Council of Salt Lake City, Utah: SECTION 1. Purpose. The purpose of this Ordinance is to amend the final budget for the Library fund of Salt Lake City as approved, ratified and finalized by Salt Lake City Ordinance No. 33 of 2022. SECTION 2. Adoption of Amendments. The budget amendments, attached hereto and made a part of this Ordinance shall be, and the same hereby are adopted and incorporated into the budget for the Library fund of Salt Lake City, Utah for the fiscal year beginning July 1, 2022 and ending June 30, 2023, in accordance with the requirements of Section 10-6-128, of the Utah Code. Approved As To Form _______________ Jaysen Oldroyd Date: November 2, 2022 SECTION 3. Certification to Utah State Auditor. The City’s Policy and Budget Director, acting as the City’s Budget Officer, is authorized and directed to certify and file a copy of said budget amendments with the Utah State Auditor. SECTION 4. Filing of copies of the Budget Amendments. The said Budget Officer is authorized and directed to certify and file a copy of said budget amendments in the office of said Budget Officer and in the office of the City Recorder which amendments shall be available for public inspection. SECTION 5. Effective Date. This Ordinance shall take effect on its first publication. Passed by the City Council of Salt Lake City, Utah, this _____ day of __________, 2022. ________________________ CHAIRPERSON ATTEST: ______________________________ CITY RECORDER Transmitted to the Mayor on __________________ Mayor’s Action: ____ Approved ____ Vetoed _________________________ MAYOR ATTEST: _______________________________ CITY RECORDER (SEAL) Bill No. _________ of 2022. Published: ___________________.