Title
Resolution to transfer funds to correct a budgeting formula error which caused a shortage of salary funds in the Railroad Museum budget. This is a housekeeping item to transfer funds to correct the error.
Summary
Description of Topic: (who, what, where, when, why and how much)
Resolution to transfer funds to correct a budgeting formula error which caused a shortage of salary funds in the Railroad Museum budget. This is a housekeeping item to transfer funds to correct the error. Due to a change in internal operations we have funds in the General Government department budget that can be transferred to the Railroad Museum budget to offset the shortage of funds.
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
__X__ Not budgeted, requesting transfer of $10,000 from Account #01-620-1230 to Account #01-623-1015 and $5,000 from Account #01-660-8700 to Account #01-623-1015.
____ 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, A resolution is needed to transfer funds to correct a budgeting formula error which caused a shortage of salary funds in the Railroad Museum budget and due to a change in internal operations we have funds in the General Government department budget that can be used to offset the shortage of funds.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Authorizes transfer of funds in the amount of $10,000 from Account #01-620-1230 to Account #01-623-1015 and $5,000 from Account #01-660-8700 to Account #01-623-1015.
SECTION 2: This Resolution shall become effective immediately upon its adoption as required by law.