TO: Mayor and Commissioners
FROM: Laura Thezine, Acting Finance Director
THROUGH: Chief Neal de Jesus, Interim City Manager
DATE: July 18, 2017
Title
RESOLUTION NO. 07-17, BUDGET AMENDMENT
Body
Recommended Action:
Recommendation
Motion to Approve Resolution No. 07-17.
Body
Background:
The proposed amended budgets reflect both results to date and anticipated future changes in normal operating activity. The budgets also reflect the resolutions of several one time items notably roof repairs to City Hall and the Community Center, HVAC replacement for City Hall, lifeguard tower replacement and the purchase of a new Christmas tree which are seen in the transfer of funds from the general fund to the general construction fund. Unexpected repairs required by FEC are also included for rail crossing surface maintenance at SE 10th St.
The creation of the new fund for the one cent sales tax is included in this amendment. The bond proceeds and tax revenue are included. Infrastructure projects will be included in the FY 17/18 CIP budget approval.
Proceeds remaining from the 2004 GO Bond fund are being used to fund a portion of the replacement of the pavilion at Atlantic Dunes Park.
Financing proceeds are also being recorded in the Garage fund for fire trucks that have been approved and will be received in FY 17/18.
City Attorney Review:
N/A
Finance Department Review:
Finance recommends approval.
Funding Source:
Outlined in narrative.