Report to Mayor and City Council
Wednesday, November 07, 2018
Consent
SUBJECT:
Title
CONSIDERATION OF RESOLUTION NO. 18-153, AMENDING THE FISCAL YEAR 2018-19 SPECIAL FUNDS BUDGET FOR THE 50TH ANNIVERSARY TIME CAPSULE (CITY COUNCIL)
Body
I. SUMMARY
2018 marks the 50th anniversary of the creation of the City of Carson. In that spirit it is often the case that municipalities create and install a time capsule commemorating the event. Tonight the City Council is being asked to approve funds to allow for this project to be executed.
II. RECOMMENDATION
Recommendation
TAKE the following actions:
1. APPROVE appropriations of $20,000.00 for the 50th Anniversary Time Capsule.
2. WAIVE further reading and ADOPT Resolution No. 18-153, “A RESOLUTION OF THE CARSON CITY COUNCIL AMENDING THE FISCAL YEAR 2018-19 BUDGET FOR THE 50TH ANNIVERSARY TIME CAPSULE.”
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III. ALTERNATIVES
Take alternative action the council deems appropriate.
IV. BACKGROUND
As it is the 50th anniversary of the creation of the City of Carson, it is appropriate for the city to create and install a time capsule which will be opened 50 years from installation. As this is a unique one time occurrence, a special allocation is being requested. The estimated cost currently is $20,000 which includes the cost of materials to create the capsule itself, labor to create the capsule enclosure and monument, and the costs associated with proper preservation of materials.
V. FISCAL IMPACT
This additional appropriation will have a net impact of reducing the General Fund Balance by $20,000. The City’s current General Fund balance is $16,540,610, under the City Council’s policy of maintaining 20% of expenditures in reserve ($17,759,963).
VI. EXHIBITS
Resolution No. 18-153 (pgs. 3-4)
Prepared by: Anthony Pico, Senior Field Deputy