File #: 24-0134    Version: 1 Name: Request for a Resolution to Transfer Funds In Nature Parks from Capital Purchases to Operating
Type: Resolution Status: Adopted
File created: 2/21/2024 In control: Community Development Deptartment
On agenda: 3/4/2024 Final action: 3/4/2024
Title: A Resolution to Transfer Funds from Capital Purchases to Operating in Nature Parks
Attachments: 1. Rent.Fun x Foley, AL - Services Agreement 2024, 2. Kayak Rental Proposal 2024, 3. Budget Transfer. Kayak Rental 2024

Title

A Resolution to Transfer Funds from Capital Purchases to Operating in Nature Parks

 

Summary

The Nature Parks Department requests to transfer $19,000 from the capital purchases account to the operating account. The FY24 approved capital purchases included a kayak rental kiosk budgeted at $25,000. After Finance Department review of the contract, it is technically a lease for the first five years. This expense would be a lease under the Operating Account, 100-5090-6042.The contract would allow Rent.Fun to install a four unit rental kiosk where they would maintain the facility, handle the rentals and maintain the liability insurance coverage. The city would receive 50% of the rental revenue from the kiosk.

 

Budgetary Impact:

   Non-Capital Item:

      ____ Budgeted under account #_______________ (discussion item)

      X    Not budgeted, requesting transfer of $19,000 from Account #100-5090-5100 to Account #100-5090-6042.**Request to Transfer Departmental Budget Dollars form must be attached**

      ____ Not budgeted requiring increase to account #___________ in the amount of $____________.**Request to Increase Departmental Budget Dollars form must be attached**

 

   Capital - Departmental **Capital Purchase Worksheet form must be attached**

      ____ Budgeted under account #______________ for $_________ and described in budget as ________________________. Additional amount needed, if any: Increase in budget of  $_________ OR, transfer of $________ from Account #____________ to Account #_____________**Request to Increase OR Request toTransfer Departmental Budget Dollars form must be attached**

      ____ Not Budgeted - account #____________ requires budget increase of $_____________.**Request to Increase Departmental Budget Dollars form must be attached**

 

   Capital Project - **If requesting to start a project, a Capital Project Worksheet form must be attached**

      In current year Capital Projects Plan: 

        _____ Yes, described as __________________________, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________

        _____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________.

        _____ Yes, requesting an increase of $___________ to an already approved project titled ________________________ that is being tracked under Account No. ___________________.

        _____ No, requesting an increase of $__________ to an already approved project titled _______________________ that is being tracked under Account No. _________________.

 

Body

 

     WHEREAS, the Nature Parks Department planned a capital purchase of a Kayak Rental Kiosk in FY2024 for $25,000, and

     WHEREAS, Rent.Fun offers a five year lease program for a 4 unit kayak rental kiosk including maintenance, management of rentals and liability insurance for $19,000, and

     WHEREAS, the lease contract would technically be an operating expense instead of a capital purchase.

     NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:

     SECTION 1:     Approves the transfer of $19,000 from Account #100-5090-5100 to Account #100-5090-6042 to enter into the contract with Rent.Fun for a 4 unit kayak rental kiosk at $19,000.

     SECTION 2:     This Resolution shall become effective immediately upon its adoption as required by law.