Summary
To: Town Commission
From: Stefan Massol, Director of Support Services
Date: 10/2/2018
______________________________________________________________________
Subject:
Title
Resolution 2018-39 Amending budget for 2017-18
Summary:
Below is a proposed budget amendment for the fiscal year 2017-18 relating to the General Fund, Tree Replacement Fund, Capital Equipment Replacement Fund and Capital Projects Fund
End
Body
Previous Commission Action: The budget was most recently amended with passage of Resolution 2018-36.
Background/Problem Discussion: The proposed amendment relates to the following items:
BT-1: Relates to a grant received from our insurance carrier for fitness equipment. $390 was received as a partial offset of the cost of $720.
BT-2: This is a transfer of funds for a needed AED replacement ($5,100) and replacement of Network Hardware ($5,400) using reserves from the Capital Equipment Replacement Fund.
BT-3: To recognize event proceeds used to offset costs for the BCF Boogie for the Rec and Gracie’s Big Splash.
BT-4: Matching grants received ($5,000) for additional tree planting ($10,000).
BT-5: The town received donations from the BCF towards improvements at Magnolia/Wall Park.
BT-6: The town will be receiving donations towards the Sportsfield Lighting improvements over a two year period in increments of $50,000.
Expenditure Challenges None
Financial Implications: See Resolution attachment
Recommendation: To approve Resolution 2018-39
Proposed Motion Move approval of Resolution 2018-39 amending budget for fiscal year 2017-18.