...Title
A Resolution Establishing Two New Sports Tourism Funds Within the City Accounting System
Summary
Description of Topic: (who, what, where, when, why and how much)
The Finance Department requests to establish two new funds for the Sports Tourism department. The new funds will include all the operating costs of the event center (Fund 206) and the multi-use fields (Fund 207) per the attached document. All activity starting 10/1/2017 moving forward will be transferred to the new funds along with the FY18 budget for those accounts. A new bank account will be created at Bryant Bank for each of these funds and will have the following signers: Wayne Trawick, Ralph Hellmich, Charles Ebert III, and Sue Steigerwald.
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.
____ Not budgeted requiring increase to account #___________ 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, The Finance Department requests to establish two new funds for the Sports Tourism department, and
WHEREAS, the new funds will include all the operating costs of the event center (Fund 206) and the multi-use fields (Fund 207) per the attached document, and
WHEREAS, all activity starting 10/1/2017 moving forward will be transferred to the new funds along with the FY18 budget for those accounts, and
WHEREAS, a new bank account will be created at Bryant Bank for each of these funds and will have the following signers: Wayne Trawick, Ralph Hellmich, Charles Ebert III, and Sue Steigerwald.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Approves the creation of two new funds (Fund 206 & 207) within the city for the Sports Tourism Department.
SECTION 2: Approves that all activity from 10/1/2017 moving forward will be moved to those funds including transferring the FY18 budget.
SECTION 3: Approves the creation of a new Bryant Bank account for said funds and the following signers on the bank account: Wayne Trawick, Ralph Hellmich, Charles Ebert III, and Sue Steigerwald.
SECTION 4: Appropriates $306,008 to 206-1012-4810 transfer from general fund and 100-8000-8007 transfer to FST Event Center Operations to fund the operating cost.
SECTION 5: Appropriates $298,598 to 207-1012-4810 transfer from general fund and 100-8000-8010 transfer to FST Multi-Use Fields Operations to fund the operating cost.
SECTION 6: This Resolution shall become effective immediately upon its adoption as required by law.