Title
A Resolution Approving an Increase to the VISA Credit Card Limit and the Issuance of Five New Credit Cards
Summary
Description of Topic: (who, what, where, when, why and how much)
Finance: in order to streamline processes and ensure adequate cards are issued with sufficient credit limits, the need is to add 5 new cards and increase the aggregate credit limit of the City from $100,000 to $145,000.
Budgetary Impact: N/A
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.**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, Resolution 3323-08 authorized obtaining VISA credit cards with an aggregate credit limit of $20,000 to be used in accordance with City policies and guidelines, and
WHEREAS, the following increases have been made to accommodate growth: Resolution 4914-12 increased to $36,500; Resolution 13-0166 increased to $50,000; Resolution 15-2087 increased to $75,000; Resolution 21-1074 increased to $85,000; and Resolution 22-1200 increased to 100,000, and
WHEREAS, there is now a need to increase the City's aggregate credit card limit and issue certain new cards as indicated on the attached report of Credit Card Limit Adjustments & Additions dated May 26, 2023.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Approves increasing the VISA credit card limit from $100,000 to $145,000 for the issuance of additional cards and the increase in credit limit to existing cards.
SECTION 2: This Resolution shall become effective immediately upon its adoption as required by law.