664 DARE transferCITY OF YELM
ORDINANCE NO. 664
AN ORDINANCE making a residual equity transfer from the Current Fund (001)
to the DARE Fund (109) for cash flow purposes and establishing an effective
date.
WHEREAS, funding for the DARE program arrives in two semiannual payments
From Yelm Community Schools; and
WHEREAS, the 1999 budgeted transfer of $10,745 from the Current Fund (00 1)
to the Dare Fund (109) has been completed; and
WHEREAS, a shortfall in the DARE fund will prevent payment of the salary
required under the Yelm Police Department Union Agreement if the semiannual payment
is not received prior to the end of May;
NOW, THEREFORE, the City Council of the City of Yelm does hereby ordain:
Section 1. A residual equity transfer in the amount of $2,500 shall be made between
the Current (00 1) and DARE Funds (109) and placed into a separate line
item with use restricted to cash flow purposes.
Section 2. The $2,500 is a reduction in the Current Fund Beginning Net Cash and is
to be used for cash flow purposes only.
Section 3. The $2,500 residual equity transfer is not an increase in the amount of
funds budgeted for expenditures during 1999.
Section 4. This ordinance shall become effective five days following publication as
established by law.
ADOPTED this 12`" day of May 1999.
L., �' - �4a
ryn M. Wolf, Mayor
Authenticated
Ag ' s P. Bernick, City Clerk
PASSED and APPROVED: May 12, 1999
PUBLISHED: Nisqually Valley News, May 14, 1999
EFFECTIVE: May 26, 1999