HomeMy WebLinkAbout2014-10 Budget Amendment Appropriating Funds for Capital Improvement Plan•
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ORDINANCE NO. 2014-10
AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF
NORTH PALM BEACH, FLORIDA, AMENDING THE ADOPTED
GENERAL FUND BUDGET FOR FISCAL YEAR 2014-2015 TO APPROPRIA IE
$1,643,500 FROM THE UNASSIGNED FUND BALANCE TO FUND THE
GENERAL FUND'S FIVE YEAR CAPITAL IMPROVEMENT PLAN;
PROVIDING FOR CONFLICTS; AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the Village Council wishes to transfer $1,643,500 from the General Fund Reserves
to its Capital Projects Fund to finance the General Fund's Five Year Capital Improvement Plan; and
WHEREAS, because the appropriation of reserve funds increases the total amount of the budget,
this transfer must be accomplished by ordinance as required by Section 166.241, Florida Statutes; and
WHEREAS, the Village Council determines that the adoption of this budget amendment to fund
the General Fund's Five Year Capital Improvement Plan is in the best interests of the residents
and citizens of the Village of North Palm Beach.
NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PALM
BEACH, FLORIDA as follows:
Section 1. The foregoing recitals are hereby ratified as true and correct and incorporated herein.
Section 2. The Village Council hereby amends the adopted Village of North Palm Beach
General Fund budget for Fiscal Year 2014-2015 as follows:
Budget Amendment:
Account
General Fund:
A4600-09100
A5540-49032
Total General Fund
Capital Projects Fund:
K3900-09180
K5541-66000
Description
Appropriated Fund Balance
Transfer Out — Capital Projects Fund
Transfer from General Fund
Reserve Expenses - Capital
Total Capital Projects Fund
Use
$1,643,500
$1,643,500
$1,643,500
$1,643,500
Source
$ 1,643,500
$1,643,500
$1,643,500
$1,643,500 1
Section 3. The Mayor and Village Clerk are hereby authorized and directed to execute the
budget amendment for and on behalf of the Village of North Palm Beach.
Section 4. All ordinances and resolutions, or parts of ordinances and resolutions, in conflict
herewith are hereby repealed to the extent of such conflict.
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Section 5. This Ordinance shall be effective October 1, 2014.
PLACED ON FIRST READING THIS 11TH DAY OF SEPTEMBER, 2014.
PLACED ON SECOND, FINAL READING AND PASSED THIS 25TH DAY OF
SEPTEMBER, 2014.
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(Village
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VILLAGE CLERK
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
VILLAGE ATTORNEY
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