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5.g Resolution 01-17-17-04 creating fund and amend 2016 budget for the construction of the Oakhill cottages storm shelters CITY OF SCANDIA RESOLUTION NO.: 01-17-17-04 RESOLUTION ESTABLISHING A SPECIAL REVENUE FUND AND AMENDING THE 2016 BUDGET WHEREAS, The City entered into a funding agreement with the Washington County Housing and Redevelopment Authority (HRA) in 2014 for construction of a storm shelter at the Cottages (property owned by the HRA) through a FEMA grant, WHEREAS, The funding agreement provided that there would be no outlay of City funds, as the grant money would pass through the City as FEMA rules direct, with the remaining project costs funded by the HRA, WHEREAS, At the April, 19, 2016 Scandia City Council meeting action was taken to award the bid for the Oakhill Cottages Storm Shelter Project to Crest Precast in the amount of $122,000. WHEREAS, Grant funds from FEMA totaling $90,486.43 were received by the City in 2016 WHEREAS, The work on the storm shelter was completed in 2016 and the HRA invoiced the City in 2016 in the amount of $90,486.43. WHEREAS, The proper accounting treatment for the receipt of the funds from FEMA and the disbursement of the funds received to the HRA is to establish a special revenue fund to account for the transaction. NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCANDIA, WASHINGTON COUNTY, MINNESOTA: Fund 231, a special revenue fund, be established to account for FEMA grants . Be it further resolved that the 2016 Budget shall be amended as follows: Account Account Description Change: 213-46330-402 Contractual Services - Buildings +$90,486.43 213-46330-33150 Federal Grant – FEMA +$90,486.43 Adopted by the Scandia City Council this 17th day of January, 2017. ________________________________ Christine Maefsky, Mayor ATTEST: ___________________________________ Neil Soltis, Administrator/ Clerk