Title
A Resolution Amending the FY18 Budget
Summary
Description of Topic: (who, what, where, when, why and how much)
Finance Director: Further analysis of sales tax revenue has been made and after removing a prior year adjustment made to April collections by the State, and after review of the May month-to-day collections, a $300,000 increase to sales tax revenue is being recommended.
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.
__x__ Not budgeted requiring increase to REVENUE account #_100-1014-4030-Sales Tax__ in the amount of $__300,000__.
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, a reduction based on a taxpayer refund for prior periods was made in April by the State and review of May collections has proven more favorable than anticipated.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Approves a $300,000 increase to the Sales Tax Revenue budget, account number 100-1014-4030.
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