Title
A Resolution Amending the Budgets of City Funds.
Summary
Description of Topic: (who, what, where, when, why and how much)
Certain actions need to be taken to amend City Budgets and acknowledge action taken by various City Boards. These are annual "housekeeping items".
Source of Funding:
Please provide the amount requested: Varies by Fund
Is this a budgted item? Yes / No - No
Pelase provide the budgeted amount: $0 increase in General Fund Expenditures - Account no varies as outlined below
If budgeted, is this a capital purchase, captial project, or special Fund? _______ - N/A
Was this item included in the Fiscal Year Capital Projects Plan? Yes/No - N/A
If yes, please provide the amount included in Capital Projects Plan? ____ - N/A
Body
WHEREAS, there is a need to make amendments to the budgets of various City Funds and acknowledge action taken by various boards. All items below have been included in the projected closes presented by the City in the FY 2016 Budget Book.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Amends the budget for accounts related to the issuance of Series 2015 GO Bonds by increasing Account Nos. 35-5601 Bond Proceeds by $3,440,000, 35-5644 Net Premium by $451,138, 35-660-9030 Bank Fees/Issue cost by $39,314, 35-600-9035 Underwriter's Fee by $30,100 35-680-0500 Transfer to General Fund by $3,861,038 and 01-5921 Transfer from Series 2015 GO by $3,861,038.
SECTION 2: Amends the budget for the transfer of the Series 2015 GO Bond proceeds (less issuance cost) to the Public Athletic & Sports Facility Cooperative district to help fund the construction of the Sports Tourism Complex, by increasing Account Nos. 01-680-0186 Transfer to PASFCD-Series 2015 GO Bond Proceeds by $3,821,169. The Public Athletic & Sports Facilities Cooperative District Board took related action on September 1, 2015.
SECTION 3: Amends the budget for the transfer to the Series 2015 GO for Debt Service payments by increasing Account Nos. 01-680-0190 and 35-5900 by $177,831.
SECTION 4: Amends the budget for the transfer to the Public Cultural and Entertainment Facilities Cooperative District for the legal cost incurred during FY 2015 by increasing Account Nos. 01-680-0193 by $150,000. The Public Cutural & Entertainment Facilities Cooperative District Board took related action on September 1, 2015.
SECTION 5: Amends the budget for the transfer of restricted cash held in the Court Corrections Fund to open the new Fund 17 Jail Corrections Fund that was effective 10/1/14 by increasing Account Nos. 15-680-0501 and 17-5901 by $6,188.
SECTION 6: Amends the budget for Library Account No. 01-614-6040 for an increase of $3,600 due to the account was under budgeted based on prior year actuals. There was not enough in the account to cover the annual maintenance fee to the Baldwin County Library Cooperative. Budget will be transferred from 01-627-8146 which is coming under budget.
SECTION 7: Amends the budget for the Library Department insurance account which was underbudgeted by transferring from the General Government insurance account which is projected to close under budget, by increasing 01-614-2140 and decreasing 01-620-2140 by $3,213.
SECTION 8: Amends the budget for Capital Projects Fund Revenue Account No. 12-5828 R25 STATE for the the State's participation in the airport drainage project by increasing the account by $8,928.
SECTION 9: Amends the budget for Revenue Account No. 01-5919 for a project user fee agreement that was entered into during the year by an increase of $21,438.
SECTION 10: Amends the budget for a transfer of funds between Sports Tourism Department, by increasing Account No. 01-628-1060 by $250, increasing Account No. 01-628-1011 by $350 and decreasing Account No. 01-628-8075 by $600.
SECTION 11: Amends the budget for Capital Projects Fund Account No. 12-600-9040 Property Taxes by $750 for property taxes paid during the year(Cactus Cafe).
SECTION 12: Write off $12 from Recreation Activities Fund Account No. 05-1224, for bank fees on a returned check that was not collected.
SECTION 13: Amends the Horticulture Department budget to transfer funds between capital purchase and vehicle maintneance, by increasing Account No. 01-626-6020 and decreasing Account No. 01-626-7010 by $5,724, due to unexpected repairs on a truck.
SECTION 14: Amend the budget for Horticulture Account No. 01-626-5010 by an increase of $9,000 due to additional tools and equipment needed for new maintenance operation and an increase in property maintenance on Laurel Avenue and the Rose Trail. Budget will be transferred from 01-627-8146 which is coming under budget.
SECTION 15: Amend the budget to transfer funds between the Street and Public Works Deparments to fund the cost of a new heating an cooling unit in the Public Works Building, by increasing Account No. 01-605-4010 and decreasing Account No. 01-607-8010 by $5,000.
SECTION 16: This Resolution shall become effective immediately upon its adoption as required by law.