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Home My WebLink AboutDocumentation_Regular_Tab 05_08/11/2016 ( �'a .� " .' � � a.. Memo To: Michael R. Couzzo Jr., Village Manager From: JoAnn Forsythe, Finance Director Date: Wednesday, August 03, 2016 Subject: Restricted Fund Balance The attached Resolution increases the FY2015/2016 General Fund #001 Budget by appropriating Fund Balance in the amount of $50,000.00 and increasing the FY2015/2016 Special Law Enforcement Trust Fund #605 Budget by $50,000.00 to recognize the transfer of $50,000.00 between these Funds. RESOLUTION NO. 20-16 A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, FLORIDA, INCREASING THE FISCAL YEAR 2015/2016 GENERAL FUND #001 BUDGET BY APPROPRIATING FUND BALANCE IN THE AMOUNT OF $50,000.00; BUDGETING THE TRANSFER OF THOSE FUNDS TO THE SPECIAL LAW ENFORCEMENT TRUST FUND AND INCREASING THE FISCAL YEAR 2015/2016 SPECIAL LAW ENFORCEMENT TRUST FUND #605 BUDGET BY $50,000.00 TO RECOGNIZE THE TRANSFER IN OF THESE FUNDS; AUTHORIZING THE VILLAGE MANAGER TO PROCEED ON BEHALF OF THE VILLAGE PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES; WHEREAS, the General Fund #001 currently reports $50,000.00 of Fund Balance restricted to uses by the Special Law Enforcement Trust Fund; and WHEREAS, these funds would more appropriately be reported in the Special Law Enforcement Trust Fund #605; WHEREAS, the transactions to record the transfer of restricted funds from the General Fund #001 to the Special Law Enforcement Trust Fund would be as follows: General Fund Dr. 001-900-591.605 Transfer to Special Law Enf. Trust $50,000.00 Cr. 001-990-399.999 Appropriate Fund Balance $50,000.00 Special Law Enforcement Trust Fund Dr. 605-950-590.001 Allocate to Fund Balance $50,000.00 Cr. 605-900-381.001 Transfer from General Fund $50,000.00 NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS: Section 1 Resolution No. 20-16 is hereby approved increasing the FY2015/2016 General Fund #001 Budget, by appropriating Fund Balance in the amount of $50,000.00 and increasing the FY2015/2016 Special Law Enforcement Trust Fund #605 Budget by $50,000.00 to recognize the transfer of $50,000 between these Funds; Section 2 This Resolution shall become effective immediately upon passage.