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Introduced by: Borough Manager <br /> 1 Requested by: Finance Director <br /> 2 Drafted by: Finance Director <br /> 3 Introduced: 0 510 7120 1 5 <br /> Public Hearing: 05/21/2015 <br /> 4 Amended 05/21/2015 <br /> 5 Adopted: 05/21/2015 <br /> 6 <br /> 7 KODIAK ISLAND BOROUGH <br /> 8 ORDINANCE NO. FY2015-01B <br /> 9 <br /> 10 ORDINANCE NO. FY2015-01 B AMENDING ORDINANCE NO. FY2015-01 <br /> 11 FISCAL YEAR 2015 BUDGET BY AMENDING BUDGETS TO ACCOUNT FOR <br /> 12 VARIOUS REVENUES THAT ARE OVER BUDGET, ACCEPT GRANTS, AND <br /> 13 PROVIDE FOR ADDITIONAL EXPENDITURES <br /> 14 <br /> 15 WHEREAS, PERS was budgeted at the net rate of 22% and should have been budgeted at <br /> 16 64.41% of salaries and State revenues should have been budgeted at 42.41% of salaries. This <br /> 17 adjustment will have no net effect on revenues and expenditures; and <br /> 18 <br /> 19 WHEREAS, the General Fund, borough attorney's department will exceed its budget due to <br /> 20 unanticipated litigation expenses; and <br /> 21 <br /> 22 WHEREAS, the General Fund, finance department has spent significant staff time and effort <br /> 23 creating the lease agreement for the new Long Term Care Facility; and <br /> 24 <br /> 25 WHEREAS, the Womens Bay Fire Department needs to use $200,000 of their fund balance <br /> 26 for expansion of the Womens Bay Fire Department addition; and <br /> 27 <br /> 28 WHEREAS, the Borough received a grant for $200,000 for the Landfill Lateral Expansion; and <br /> 29 <br /> 30 WHEREAS, the Hospital Enterprise Fund has available funds to assume the Facilities Fund <br /> 31 Loan to the Renewal & Replacement Fund; and <br /> 32 <br /> 33 WHEREAS, the Borough received a grant for$50,000 for the Chiniak Playground; and <br /> 34 <br /> 35 WHEREAS, on October 7, 2014 Borough voters approved the issuance of General Obligation <br /> 36 bonds in the amount of $10,230,000 to finance the renewal and replacement schedule related <br /> 37 to borough owned school facilities; and <br /> 38 <br /> 39 WHEREAS, the Hospital Enterprise fund has sufficient cash to pay off the Hospital Loan to <br /> 40 the Facilities Fund; and <br /> �,. 41 <br /> 42 WHEREAS, the FY2014 financials recorded the State portion of PERS for the Resource <br /> 43 Management Fund, Building and Grounds Fund, Bayside Fire Department, Solid Waste <br /> 44 Disposal Fund, and KFRC in the General Fund and these should be split into different funds. <br /> 45 <br /> Kodiak Island Borough, Alaska Ordinance No, FY2015-01 B <br /> Page 1 of 2 <br />