Title
A Resolution to Amend City Budgets
Summary
Description of Topic:
A Resolution to Amend City Budgets for Various reasons
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
__X__ Not budgeted, requesting transfer of $__See Below____ from Account #______________ to Account #_____________.
__X__ Not budgeted requiring increase to account #__See Below_____ 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, 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: Amends the budget for the revenue and expense accounts related to repair cost and insurance reimbursement for damages caused by a lightning strike and other insurance claims throughout the year. Increase 01-5142 Insurance/Lawsuit Settlements and 01-620-8350 Property damage/liab expense by $60,000, for a budget neutral adjustment.
SECTION 2: Transfers $67,500 from 01-660-8705 Reserve for contingency to 01-620-3040 Legal/Professional fees due to increased cost of legal ...
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