Title
A Resolution Amending the FY2017 Budget and Updating the Capital Project Fund Planning Document
Summary
Description of Topic: (who, what, where, when, why and how much)
Mike Thompson/Sue Steigerwald:
A resolution to:
(1) incorporate the temporary penny sales tax increase into the budget.
(2) move $15,000 from the original capital improvement plan to Street Dept for much needed sidewalk repairs
(3) adjust various Capital Project Fund accounts to reflect closed projects and other activity
(4) increase the General Fund transfer to Capital Projects Fund and decrease the General Fund transfer to the TRIPS/TIGER fund for a net increase in funding of $676,776.
(5) approve a revised Capital Projects Fund Planning Document for FY17.
Budgetary Impact: **Not budgeted, the detail of the adjustments are shown in an attachment
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.
____ Not budgeted requiring increase to account #___________ 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, the FY17 General Fund budget requires amending to reflect the one percent temporary sales tax increase enacted by Ordinance 17-2004, effective March 1, 2017, and
WHEREAS, the Street Department is in need of $15,000 to make repairs to existing sidewalks, in lieu of making capital improvements previously requested in the Capital Plan, and
WHEREAS, adjustments need to made to accounts within the Capital Projects Fund for projects that have been completed or require adjustment, resulting in a net decrease in funding of $398,390.66, and
WHEREAS, adjustments need to be made to transfers from the General Fund to transfers to various capital project funds to support current project needs resulting in a net increase in funding from the General Fund of $676,776, and
WHEREAS, the FY17 Capital Improvement Planning document is in need of revisions to reflect prior year carry-overs and other adjustments.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Appropriates $4,073,950 to revenue account 01-4260 for the temporary one percent sales tax increase
SECTION 2: Appropriates $15,000 to Street Department Account 01-607-8010 - Maintenance to Streets/Ditches/Sidewalks.
SECTION 3: Approves budgetary action for closed projects and other adjustments to various Capital Project Fund accounts resulting in an overall decrease in funding of $398,390.66, as attached.
SECTION 4: Amends transfer accounts for the General Fund, Capital Project Fund and TRIPS/TIGER Fund resulting in a net funding increase of $676,776, as attached.
SECTION 5: Approves the Revised FY17 Capital Project Fund Planning Document, as attached.
SECTION 6: This Resolution shall become effective immediately upon its adoption as required by law.