HomeMy WebLinkAboutDocumentation_Regular_Tab 10_04/08/2010t ~~
. ,~ ~ VILLAGE OF TEQUESTA
':~ AGENDA ITEM TRANSMITTAL FORM
1. VILLAGE COUNCIL MEETING:
Meeting Date:
April 8, 2010 Meeting Type: Regular Ordinance #:
Consent Agenda: Yes Resolution #: 10-10
Originating Department: Finance
2. AGENDA ITEM TITLE: (Wording form the SUBJECT line of your staff report)
Transfer $300,000 from Capital Improvement Fund #301 to General Fund #001
3. BUDGET /FINANCIAL IMPACT:
Account #: various Amount of this item: 300,000
Current Budgeted Amount Available: Budget Amount Requested:
0 300, 000
Budget Amendment Required: Yes Appropriate Fund Balance: Yes
This item will reduce appropriated fund balance in fund 001
4. EXECUTIVE SUMMARY OF MAJOR ISSUES: (This is a snap shot description of the agenda item)
Transfer $300,000 from Capital Improvement Fund #301 to General Fund 3001
5. APPROVALS:
Dept. Head:
Attorney: (for legal sufficiency)
Village Manager:
• SUBMIT FOR COUNCIL DISCUSSION
• APPROVE ITEM: ^
~~~~
Finance Director: ~ ~:~~
Yes ^ No ^
• DENY ITEM: ^
MEMORANDUM
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DATE: APRIL 1, 2010
TO: MICHAEL R. COUZZO, VILLAGE MANAGER
FROM: JOANN FORSYTHE, FINANCE DIRECTOR
RE: TRANSFER $300,000 FROM CAPITAL IMPROVEMENT FUND #301 TO GENERAL FUND
#001.
The Village received a return of deposit in the amount of $300,000 from the Florida Deparnnent of
Transportation related to the Tequesta Bridge construction project. The attached agenda item requests the
amount of the return of deposit be transferred to the General fund and used to reduce the amount of revenue
currently budgeted (appropriated) from fund balance.
4/1/1012:13 PM
RESOLUTION NO. 10-10
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE
OF TEQUESTA, PALM BEACH COUNTY, FLORIDA,
TRANSFERRING FUND BALANCE OF $300,000 FROM THE
CAPITAL IMPROVEMENT FUND #301 TO THE GENERAL
FUND #001 AND REDUCING THE AMOUNT OF
APPROPRIATED FUND BALANCE BUDGETED IN THE
GENERAL FUND ACCORDINGLY; AND PROVIDING FOR AN
EFFECTIVE DATE AND FOR OTHER PURPOSES,
WHEREAS, the Village received a return of deposit from the
Florida Department of Transportation related to the Tequesta
Bridge construction project in the amount of $300,000, and
WHEREAS, these funds will be transferred from Capital
Improvement Fund #301 to the General Fund #001 and the
amounts budgeted in these funds will be amended as follows:
General Fund 001:
Increase Transfers-in from Capital Imp. Fund $300,000
Decrease Appropriated Fund Balance $300,000
Capital Improvement Fund 301:
Increase Transfers-out to General Fund $300,000
Decrease Construction Bridge $300,000
NOW, THEREFORE, BE IT RESOLVED BY TE VILLAGE OF
TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1: Authorizing the transfer of $300,000 from Capital
Improvement Fund #301 to General Fund #001 is hereby approved.
Section 2 This Resolution shall become effective immediately upon
passage.
The foregoing Resolution was offered by
,who moved its adoption. The motion
was seconded by ,and upon being put to
a vote, the vote was as follows:
Mayor Patricia Watkins
Vice-Mayor Tom Paterno
Council Member Vince Arena
Council Member Jim Humpage
Council Member Calvin Tumquest
For Adoption ,Against Adoption
The Mayor thereupon declared the Resolution duly passed and adopted this
8th day of April, 2010.
MAYOR OF TEQUESTA
Patricia Watkins
ATTEST:
Lori McWilliams, CMC
Village Clerk