Summary
To: Town Commission
From: Ashley L. A. Bernal
Date: 6/4/2019
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Subject:
Title
Resolution 2019-13, Amendment to the FY 2018-19 Budget
Summary:
Town staff is requesting that the budget be amended for Fiscal Year 2018-19.
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Body
Previous Commission Action: Town Commission approved the FY 2018-19 Annual Budget in September 2018.
Background/Problem Discussion: Staff is requesting for the budget to be amended for additional funds to be allocated for the Palmetto Road project and Tackett Park. An overview of each fund’s activity is provided below:
General Fund
1) Donations, as well as prior year surplus, are being utilized to transfer funds to the Infrastructure Fund for Tackett Park ($66,000).
Infrastructure Fund
1) The incoming transfer from the General Fund will be used to increase the budget for Tackett Park, totaling $81,000.
2) Funds will be reallocated from the Magnolia-Wall Park project to the renovation of Palmetto Road ($148,000).
Tree Fund
1) The Tree Replacement budget will be decreasing by $10,000. These funds will be utilized for Tackett Park, via transfer from General Fund.
Expenditure Challenges Please see the attached detail of the budget amendment for a complete line-item detail.
Financial Implications: Please see the attached detail of the budget amendment for a complete line-item detail.
Recommendation: Approval of Resolution 2019-13
Proposed Motion Enter Text Here