Subject:
Title
Resolution appropriating earmarked receipts for a particular purpose in the Fiscal Year 2015 Capital Projects Fund budget for unanticipated revenue transferred from the Tourist Development Council Fund for beach nourishment.
label
Recommended Action:
Recommended Action
Adoption of a resolution appropriating earmarked receipts for a particular purpose in the Fiscal Year 2015 Capital Projects Fund budget for unanticipated revenue transferred from the Tourist Development Council Fund for beach nourishment in the amount of $767,860.00.
Body
Strategic Plan:
Practice Superior Environmental Stewardship
3.2 Preserve and manage environmental lands, beaches, parks, and historical assets
3.3 Protect and improve the quality of our water, air, and other natural resources
Summary:
The resolution recognizes and appropriates unanticipated revenue transferred from the Tourist Development Council Fund of $767,860.00.
Background Information:
On August 18, 2015, the Board approved Resolution No. 15-78 which appropriated unanticipated Tourist Development Tax revenue to increase the Fiscal Year 2015 (FY15) transfer for beach nourishment. This resolution will complete the transfer process in the Capital Project Fund and appropriate it for use on County beach nourishment projects.
Fiscal Impact:
Approval of this resolution recognizes unanticipated revenue in the amount of $767,860.00 in the Capital Projects Fund and increases the FY15 budget for the Capital Projects Fund by the same amount. This amendment is consistent with the FY15 estimate submitted during the Fiscal Year 2016 budget development process.
Staff Member Responsible:
Jim Abernathy, Sr. Financial Management and Budget Analyst, Office of Management & Budget
Partners:
Tourism Development Council