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CASSELBERRY CITY COMMISSION <br />Minutes of May 11, 2015 — Regular Meeting <br />Page 5 of 14 <br />Account Number <br />Increase: <br />Various <br />Decrease: <br />Various <br />Account Description <br />Various — See Attached <br />Various — See Attached <br />Amount <br />Recommendation: The City Manager and the Finance Director recommended approval to amend the Fiscal <br />Year 2014-2015 Budget and Budget Amendment #15-038. <br />F. Budget Amendment #15-041— Recognition of the Oxford Road Loan Proceeds from <br />Seminole County <br />Introduction: Recognition of the debt service proceeds as a result of the approval and receipt of a loan from <br />Seminole County for the Oxford Road redesign in the amount of $1,511,245 via Budget Amendment 415-041 <br />is requested. <br />Budget Impact: Approval of Budget Amendment # 15-041 will increase the Infrastructure Surtax Fund Debt <br />Proceeds account #114-0000-384.00-00 and decrease the Other Non -Opera_ ting Sources account # 114-0000- <br />389.90-00 in the amount of $1,511,245. <br />BA #15-041 <br />Explanation of Request: This item seeks City Commission approval to provide debt service proceeds of a <br />loan from Seminole County for the Oxford Road redesign. When project is bid, a Budget Amendment will be <br />brought forward to provide funding for this capital project. <br />Account Number Account Description Amount <br />Increase: <br />114-0000-384.00-00 Debt Proceeds $1,511,245 <br />Decrease: <br />114-0000-389.90-00 Other Non -Operating Source $1,511,245 <br />Recommendation: The City Manager and the Finance Director recommended the approval of Budget <br />Amendment #15-041 to recognize debt service proceeds in the amount of $1,511,245. <br />