Title
A Resolution Amending City FY2024 Budgets
Summary
A resolution prepared by the Finance Department to amend various operation accounts and transfer accounts for unexpected events that occurred during the year.
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: Increase in the amount of $300,000 to account 100-1012-4600 Interest Income and an increase of $600,000 to account 100-1012-4601 Investment Earnings.
SECTION 2: Increase in the amount of $83,710 to account 100-1012-4710 Miscellaneous One Time Revenue.
SECTION 3: Increase the following transfer accounts:
• 100-8000-8006 Transfer PFCD Operations in the amount of $13,321
• 100-1012-4834 Transfer PFCD PUF in the amount of $12,000
• 100-1012-4818 Transfer PFCD PUF in the amount of $3,000
• 100-1012-4835 Transfer PFCD PUF in the amount of $2,800
• 100-1012-4819 Transfer PFCD PUF in the amount of $9,200
SECTION 4: Increase to the following economic development grant accounts:
• 100-6010-6210 in the amount of $5,000
• 100-6010-6211 in the amount of $1,400,000
SECTION 5: Transfers the following operational budgets to subscription lease accounts as follows:
• Transfer $45,540 from 100-1040-6132 Software Subscriptions to 100-1040-7005 Subscription lease principal
• Transfer $162,000 from 100-2010-6067 Personal Gear and Protection to 100-2010-7005 Subscription lease principal
SECTION 6: Transfers from Leisure Services account to Horticulture accounts as follows:
• 100-5002-6000 of $20,000 to 100-5051-6161
• 100-5003-6000 of $20,000 to 100-5051-6161
• 100-5002-6010 of $5,000 to 100-5054-6162
• 100-5003-6010 of $5,000 to 100-5054-6162
SECTION 7: Increase of $1,400 to 100-1012-6198 Property Taxes on Land Purchase.
SECTION 8: This Resolution shall become effective immediately upon its adoption as required by law.