CC Minutes 09/08/2008 - Laserfiche WebLink

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CASSELBERRY CITY COMMISSION Minutes of September 8, 2008 - Regular Meeting Page 6 of 17 Account Number Account Description Amount INCREASE: 114-0710-517.72-20 Interest/STRN (NWPD) #133 $27,253 114-0710-517.72-21 Interest/STRN (NWPD) #141 $12,423 114-0000-389.90-00 Other Non -Operating Sources $39,676 Introduction: City Commission approval is requested to appropriate funds to pay scheduled finance charges related to the Infrastructure Surtax Revenue Note, Series 2007 approved and issued by the City Commission in November 2007. Budget Impact: Expenditures for interest will be budgeted in appropriate accounts totaling $39,676. Non - Operating sources will also be increased to recognize the use of Fund Balance Reserves to enable the payment. Recommendation: The City Manager and the Finance Director recommended approval of Budget Amendment BTR #08-066. F. Budeet Amendment #08-065 -0 Transfer from the Water and Sewer Utility Fund to the Water and Sewer Capital Improvement Fund BTR #08-065: Explanation of Request: Transfer funds from the Water and Sewer Utility Fund dedicated to capital improvement and renewal and replacement to the Water and Sewer Capital Improvement Fund where such expenditures are budgeted and paid. Remove the budget in the Capital Improvement Fund for Debt Proceeds that are not needed. Account Number INCREASE: 401-0190-536.91-43 401-0000-389.90-00 403-0000-381.04-00 DECREASE: 403-0000-389.90-00 403-0000-384.00-00 Account Description Amount Transfer to Capital Improvement Fund $2,963,177 Other Non -Operating Sources $2,963,177 Transfer from Water and Sewer Fund $2,963,177 Other Non -Operating Sources $ 948,177 Debt Proceeds $2,015,000 Introduction: City Commission approval is requested to transfer funds from the Water and Sewer Utility Fund to the Water and Sewer Capital Improvement Fund to fund budgeted spending for capital improvements and renewal and replacement costs.