Title
A Resolution Adopting Fiscal Year 2021 Budgets
Summary
Mike Thompson, City Administrator - request that Council consider adoption of the FY 2021 Budgets.
Body
WHEREAS, budgets for the following City of Foley funds are adopted in their entirety: General Fund, Fire Dept. Ad Valorem Fund, Library Fund, Recreational Activities Fund, Gas Tax Fund, Court Corrections Fund, Jail Corrections Fund, Foley Sports Tourism Event Center Operations, Foley Sports Tourism Event Multi-Use Fields Operations, Economic Incentive Funds and Debt Service Funds, and
WHEREAS, budgets for the following component units are included in the City's Budget Report: Public Facilities Cooperative District (PFCD) Funds, Public Athletic and Sports Facilities Cooperative District (PASFCD) Funds, Public Cultural and Entertainment Facilities Cooperative District (PCEFCD) Funds, and Coastal Alabama Farmers and Fishermen’s Market, Inc.(CAFFM) Funds, and
WHEREAS, the City’s budget is presented in summary form but a detailed account by account report is available by request from the City Clerk’s Office.
WHEREAS, the budgets for operational costs in funds where capital projects are scheduled are adopted, however; infrastructure maintenance and capital construction projects in these funds are approved on a per project basis and do not expire until the project is complete. Project schedules contained in the budget document are for informational and planning purposes only, and
WHEREAS, adoption of these budgets and their supporting documentation represent the City Council 's best estimate of the City's financial condition and needs for Fiscal Year 2021 (FY2021). However, changing conditions may require amendments to the various budgets at any time and there is no guarantee that the City will expend funds on any given project or other area covered by these budgets.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: These budgets covering...
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