Title
A Resolution Amending the Budgets of City Funds.
Summary
Description of Topic: (who, what, where, when, why and how much)
Certain actions need to be taken to amend City Budgets and acknowledge action taken by various City Boards. These are annual "housekeeping items".
Source of Funding:
Please provide the amount requested: Varies by Fund
Is this a budgted item? Yes / No - No
Pelase provide the budgeted amount: $0 increase in General Fund Expenditures - Account no varies as outlined below
If budgeted, is this a capital purchase, captial project, or special Fund? _______ - N/A
Was this item included in the Fiscal Year Capital Projects Plan? Yes/No - N/A
If yes, please provide the amount included in Capital Projects Plan? ____ - N/A
Body
WHEREAS, there is a need to make amendments to the budgets of various City Funds and acknowledge action taken by various boards. All items below have been included in the projected closes presented by the City in the FY 2016 Budget Book.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Amends the budget for accounts related to the issuance of Series 2015 GO Bonds by increasing Account Nos. 35-5601 Bond Proceeds by $3,440,000, 35-5644 Net Premium by $451,138, 35-660-9030 Bank Fees/Issue cost by $39,314, 35-600-9035 Underwriter's Fee by $30,100 35-680-0500 Transfer to General Fund by $3,861,038 and 01-5921 Transfer from Series 2015 GO by $3,861,038.
SECTION 2: Amends the budget for the transfer of the Series 2015 GO Bond proceeds (less issuance cost) to the Public Athletic & Sports Facility Cooperative district to help fund the construction of the Sports Tourism Complex, by increasing Account Nos. 01-680-0186 Transfer to PASFCD-Series 2015 GO Bond Proceeds by $3,821,169. The Public Athletic & Sports Facilities Cooperative District Board took related action on September 1, 2015.
SECTION 3: Amends the budget for the transfer ...
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