Title
A Resolution Amending City FY2021 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, and
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama as follows:
SECTION 1: Increase in the amount of $27,065 to account 100-9200-6998 Miscellaneous One Time expense for sales tax refunds from previous years.
SECTION 2: Increase in the amount of $1,282,024 to account 100-9200-4100 FEMA Sally, $264,717 to account 100-9200-4200 State Sally and $53,379 to account 100-9200-4703 Insurance Proceeds Sally for unbudgeted revenue received.
SECTION 3: Increase to the following transfer accounts and corresponding economic development grants:
· Increase of $35,000 to account #’s 100-1012-4815 & 100-6010-6202
· Increase of $7,000 to account #’s 100-1012-4813 & 100-6010-6203
· Increase of $13,000 to account #’s 100-1012-4814 & 100-6010-6204
· Increase of $117,000 to account #’s 100-1012-4817 & 100-6010-6206
· Increase of $18,000 to account #’s 100-1012-4826 & 100-6010-6209
· Increase of $61,000 to account #’s 100-1012-4819 & 100-6010-6208
SECTION 4: Amends the budget for the following accounts as a result of the issuance of the 2021B GO bond refunds:
· Increase of $130,333 to account #’s 100-8100-8012 Transfer to 2021-B GO & 307-1012-4811 Transfer from General Fund 2021-B
· Increase of $22,855,000 to account # 307-1012-4911 Bond Proceeds 2021B
· Increase of $121,354 to account # 307-1012-4913 Bond Premiums 2021-B
· Increase of $182,840 to account # 307-7000-7022 Underwriters Discount 2021-B
· Increase of $87,997 to account # 307-7000-7023 Cost of Issue 2021-B
· Increase of $9,190,308 to account #’s 307-8100-8001 Transfer to 2014 GO Refi & 304-1012-4813 Transfer from 2021-B GO Refi
· Increase of $9,268,002 to account # 304-7000-7023 O...
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