ITEM TITLE:
#19-41 - Amending the 2019 City Budget by Appropriating $150,000 from Unrestricted Debt Service Fund Balance to Professional Services for Financial Advisory Services Contract.
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: $150,000
Unencumbered Balance: $7.8MM
Funding Source: Debt Service Fund Balance
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
• This resolution funds the Hilltop Securities contract.
• Expenses for the proposed $15MM bond issue will be approximately $21,000, plus expense reimbursements.
• The contract encumbrance of $150,000 will carry forward to future budget years for any future bond issues or related special projects.
• Attachment: Resolution 2019 Budget Financial Advisory Services