...Title
A Resolution Establishing New Impact Fee Fund Within the City Accounting System
Summary
Description of Topic: (who, what, where, when, why and how much)
The Finance Department requests to establish a new fund for Impact Fees. New bank accounts will be created at Bryant Bank for Parks and Recreation Impact Fee and Transportation Impact Fee and will have the following signers: Wayne Trawick, Charles Ebert III, Rick Blackwell, Vera Quaites, Richard Dayton and Sue Steigerwald.
Budgetary Impact:
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 Finance Department requests to create a new fund to record financial activity that will be imposed upon enactment an Impact Fee Ordinance, and
WHEREAS, In accordance with the enactment of the Impact Fee Ordinance, bank accounts will need to be established for deposit of Parks & Recreation Impact Fees and Transportation Impact Fees.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Approves the creation of a new fund titled Impact Fee Fund to be used to record the financial activity related to impact fees.
SECTION 2: Approves opening checking accounts for the Parks & Recreation Impact Fee and for the Transportation Impact Fee at Bryant Bank listing the following authorized signers: Wayne Trawick, Charles Ebert III, Rick Blackwell, Vera Quaites, Richard Dayton and Sue Steigerwald.
SECTION 3: This Resolution shall become effective immediately upon its adoption as required by law.