ORDINANCE NO.  2093

AN ORDINANCE AMENDING THE ADOPTED 2008 ANNUAL BUDGETS FOR THE CITY OF EUREKA SPRINGS, ARKANSAS, AS A RESULT OF THE MIDYEAR BUDGET REVIEW PROCESS

WHEREAS, the City Council of the City of Eureka Springs, Arkansas has made a comprehensive study of the current budget: and

WHEREAS, in the opinion of the City Council, the 2008 Fiscal Budget should be amended to reflect the following changes in both Revenue and Expenditure budgetary amounts as set forth hereafter.

NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF EUREKA SPRINGS, ARKANSAS, THAT:

Section 1. This ordinance shall be known as the 2008 Mid-Year Budget Amendment Ordinance for the City of Eureka Springs, Arkansas, for the twelve-month period beginning January 1, 2008 and ending December 31, 2008; and the attached documents present revisions to estimates for revenues and expenditures for the period.  All revenues and appropriations are based on estimated revenues; and all estimates are subject to change during the budgetary period.

Section 2. The amounts for Revenues and Expenditures proposed in this 2008 Mid-Year Amended Budget are hereby appropriated for the purpose set forth the calendar year ending December 31, 2008.

The Amendments are as follows:

(01) General Fund

Revenue

01-00-4031 Sales Tax Operating decreased $237,528

01-00-4051 Interest-Operating decreased $30,000

01-00-4115 Transfer-In increased $481,217

01-00-4100 Ambulance Services increased - $80,000

01-00-4501 PD Grant-State Aid decreased $1,000

01-00-4503 Urban & Comm Forest Grant decreased $3,500

01-00-4504 Grant Funds-State Issued decreased $25,000

01-00-4505 PD Grant-Federal Aid increased $4,500

01-00-4991 Miscellaneous Revenue Operating increased $40,000

01-00-4555 FEMA Grant Revenue increased $1,500

01-00-4993 Misc Grant Revenue increased $5,500

Expenses

01-00-5600 Miscellaneous Expense increased $5,000

01-00-5714 Transfer Out-CAPC increased $33,500

01-00-5720 Transfer Out-Parks Commission $5,500

01-00-5755 Misc Grant Expenses decreased $5,000

01-00-5756 Urban & Comm Forest Grant Expense decreased $1,200

Ordinance 2093     Page 2

Dept. 10 – Mayor’s Office

01-10-5572 Professional Services Other increased $30,500

Dept 11 – Finance Department

01-11-5301 Supplies-Office & Operating increased $500

01-11-5310 Postage increased $500

Dept 13 - Municipal Court

01-13-5572 Professional Services Other increased $5,000

Dept 14 - Fire/EMS

01-14-5513 Maintenance/Operation-Vehicle increased $29,000

01-14-5572 Professional Services Other increased $14,000

(10) Street Fund

Revenue

10-00-4031 Sales Tax Revenue decreased $161,000

10-00-4032 Sales Tax-Street Construction increased $142,821.48

10-00-4001 Intergovernmental Revenue-State increased $52,000

10-00-4051 Interest decreased $92,400

10-00-4055 CD Interest decreased $26,000

10-00-4056 Interest Sales Tax-Street Imp increase $401.31

10-00-4991 Miscellaneous Revenue increased $700

Expenses

10-00-5800 Capital Expenditures decreased $48,833

(11) LOPFI

Revenue

11-00-4040 Fines/Forfeitures/Costs decreased $24,867

11-00-4001 Intergovernmental Revenue decreased $2,500

Expenses

11-00-5593 Public Safety-Volunteers increased $609

(12) General Fund Capital

Revenue

12-00-4032 Sales Tax-Capital decreased $850,000

12-00-4033 Sales Tax-Police/Fire Equipment increased $35,705.37

12-00-4052 Interest-Capital decreased $39,000

12-00-4054 Interest-Sales Tax Fire/Police Equipment increased $100

12-00-4115 Transfer In increased $142,478.66

12-00-4500 Loan Proceeds increased $200,000

Expenses

12-00-5815 Black Bass Dam Expense increase $32,000

12-00-5809 Transfers Out-Parks Capital decreased $33,200

12-14-5800 Fire/EMS Capital increased $139,048

12-14-5805 Principal Exp Pumper Truck Loan increased $18,128.65

12-14-5820 Interest Building Loan increased $272

12-14-5824 Interest Exp Pumper Truck Loan increased $4,142.63

(40) Debt Service Fund

Revenue

40-00-4020 Sales Tax Revenue increased $873,520

40-00-4055 Interest Income - Franchise Fee decreased $7,000

40-00-4056 Interest Income - 2000 Capital Imp decreased $14,300

Ordinance 2093      Page 3

40-00-4062 Interest Income - 2007 Bond increased $4,750

40-00-5932 Interest/Agent Fees-2007 Bond increased $87,157.50

Expenses

40-00-5700 Transfers Out increased $570,305

(70) Firemen's Pension Fund

70-00-4051 Interest decreased $13,000

70-00-4053 Interest CD decreased $24,000

(80) Water and Sewer Fund

Revenue

80-00-4032 Sales Tax-W/S Improvements increased $178,526.87

80-21-4051 Interest decreased $39,000

80-21-4056 Interest W/S Improvements increased $496.40

80-22-4051 Interest decreased $39,000

80-22-4055 Interest CD decreased $1,500

80-22-4065 Interest/Dividends 2007 Bond increased $1,150.72

80-21-4375 Water Sales increased $30,000

80-22-4376 Sewer Fees increased $50,000

80-21-4380 Tap Fees increased $500

80-22-4380 Tap Fees increased $1,500

80-21-4992 Carroll Boone Rebates decreased $20,000

80-22-4992 Insurance Proceeds increased $9,050

Expenses

80-22-5604 Penalties & Fees increased $10,000

80-22-5800 Capital Expenditures increased $14,800

Section 3. Upon passage of this Ordinance, all changes will be entered into the Main Street Accounting Program and General Ledger, and said changes will be attached to and part of the permanent record of this 2008 Mid Year Budget Ordinance.

Section 4. Repeal Clause:  All Ordinances, Resolutions, and parts thereof, in conflict herewith are hereby repealed to the extent of such conflict.

PASSED AND ORDAINED BY THE CITY COUNCIL OF THE CITY OF EUREKA

SPRINGS, ARKANSAS, ON THIS 24^th DAY OF NOVEMBER,  2008.

APPROVED:

___________________________________

Mayor Dani Joy

ATTEST:

_____________________________

City Clerk-Treasurer Mary Jean Sell