HomeMy WebLinkAboutOrdinance 1984-005 Budget Transfer FY 1983-84n
ORDINANCE NO.5-84
AN ORDINANCE OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, AMENDIM
THE NORTH PATE BEACH BUDGET FOR FISCAL YEAR 1983-84 BY APPROPRIATIONS TRANS-
FERS.
BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PAIN BEACH,
FLORIDA:
Section 1. Ordinance No. 14-83, the budget ordinance of the Village
of North Palm Beach, is hereby amended by transferring funds to the Country
Club, to be re -transferred to the General Fund on or before September 30, 1984,
for emergency pool pump repair as follows:
General Find
Decrease Appropriations
Council Contingency
Account No. 61.519-99.11
Increase Appropriations
Short term loan to Country Club
Account No. 52-582-91.33
$11,000.00
$11,000.00
Country Club
Increase Revenues $11,000.00
Transfer from General Fund Account No. 383.210
Increase Appropriations $11,000.00
Pool R & M Machinery & Equipment
Account No. 12.1-572-46.50
Section 2. Ordinance No. 14-83, the budget ordinance of the
Village of North Palm Beach, is further amended to provide for the repayment
of the loan fran the General Fund together with interest at the rate of
8.5%.
Country Club
Increase Revenue $11,230.00
Transfer ROF Account No. 383-200
Increase Appropriations
Short term loan payment to General Fund
Account No. 51.1-572-73.16
General Fund
Increase Revenue
Short term loan receivable Country Club
Account No. 382-140
Increase Appropriations
Council Contingency
Account No. 61-519-99.11
11,230.00
$11,000.00
$11,000.00
1
Section 3. $11,000.00 of idle funds at interest shall be tem-
porarily transferred to the Country Club as set forth above, thereby
reducing interest earned in the General Fund by 8.5% of $11,000.00, for
the number of days that $11,000.00 is loaned to the Country Club. Repay-
ment of the $11,000.00 from the Country Club shall be replaced in Council
Contingency and invested at interest as idle funds, and interest at 81-%
on the $11,000.00 for the days of the loan shall be credited to interest on
idle funds to rebalance the General Fund.
Section 4. his Ordinance shall take effect immediately upon
passage.
PLACED ON FIRST READIIC THIS 9th DAY OF FEBRUARY , 1984.
PLACID ON SECOND, FINAL READING AND PASSED THIS 23rd DAY OF
FEBRUARY , 1984.
ATTEST:
.,Village Clerk
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