Title
A Resolution to Amend City Budgets
Summary
Description of Topic:
A Resolution to Amend City Budgets for Various reasons
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
__X__ Not budgeted, requesting transfer of $__See Below____ from Account #______________ to Account #_____________.
__X__ Not budgeted requiring increase to account #__See Below_____ in the amount of $____________.
Capital - Departmental
____ 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 #_______________
____ Not Budgeted - account #____________ requires budget increase of $_____________.
Capital Project - **THE PRE-PROJECT CHECKLIST AND BUDGET CHECKLIST MUST BE ATTACHED TO THIS FILE**
In current year Capital Projects Plan:
_____ Yes, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________
Body
WHEREAS, there is a need to make amendments to the budgets of various City Funds.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama as follows:
SECTION 1: Amends the budget for the revenue and expense accounts related to repair cost and insurance reimbursement for damages caused by a lightning strike and other insurance claims throughout the year. Increase 01-5142 Insurance/Lawsuit Settlements and 01-620-8350 Property damage/liab expense by $60,000, for a budget neutral adjustment.
SECTION 2: Transfers $67,500 from 01-660-8705 Reserve for contingency to 01-620-3040 Legal/Professional fees due to increased cost of legal advice for the sale of assets, research on franchise agreements and other miscellaneous items, for a budget neutral adjustment.
SECTION 3: Transfers $132,216 from 01-660-8705 Reserve for contingency to 01-660-1024 Self insured - Engineering due to unexpected increase in medical cost, for a budget neutral adjustment.
SECTION 4: Transfer $2,000 from 01-618-1015 Senior Center Part time Salaries & $2,500 from 01-607-1500 Streets Retirement, to the following accounts due to an increased mod factor in workers compensation during the year, $2,000 to 01-616-1160 Municipal Complex Workers Comp, $1,500 to 01-621-1160 Maintenance Shop Workers Comp and $1,000 to 01-630-1160 Environmental Workers Comp, for a budget neutral adjustment. HR is taking certain steps this year to help reduce the mod factor in future years.
SECTION 5: Transfers $7,058 from 01-660-8700 Reserve for Salary Increase to 01-620-8060 Staff Travel & Training due to increased training for certain General Government staff, for a budget neutral adjustment.
SECTION 6: Appropriate $15,000 to 01-620-3220 Lease - Parking Area for the Dyas parking lot after the decision was made to keep this public parking area.
SECTION 7: Amends the budget for the revenue and expense accounts to record the acquisition of capital leases signed during the year in General Government and reclass lease payments to principal and interest accounts. Increase 01-5990 Lease purchase proceeds and 01-620-7015 capital lease by $32,031, transfer $4,561 to 01-620-8500 and $2,469 to 01-620-8505 from 01-620-7015 capital lease, for a budget neutral adjustment.
SECTION 8: Transfers the budget from capital lease account to lease payments to principal and interest accounts. Transfer $25,008 to 01-629-8500 and $6,242 to 01-629-8505 from 01-629-7015 capital lease, for a budget neutral adjustment.
SECTION 9: Amends the budget for the Transfer from PFCD -Tanger PUF and the Economic Grant Agreement Expense account by $30,735. Increase to the following accounts: 01-5901, 01-660-3200, 40-5851 & 40-680-0611, for a budget neutral adjustment.
SECTION 10: Amends the budget for Utilities in Horticulture by an increase of $3,100 and $3,200 in accounts 01-626-2010 and 01-626-2119, respectively, due to underestimates by Finance.
SECTION 11: Amends the budget for 01-626-4025 Landscape Improvement by an increase of $6,000 due to unbudgeted cost to maintain landscaping at the gateway signs and an additional flower change out due to the weather.
SECTION 12: The above actions results in a net increase of $27,300 to the budget.
SECTION 13: This Resolution shall become effective immediately upon its adoption as required by law.