Ordinance 1984-005 Budget Transfer FY 1983-84ORDINANCE N0.5-84
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AN ORDINANCE ~ THE VII.IA(~ OAF NORTH PALM BEACH, FIARIDA, AMQ~IDIN3
TkiE NORTH PAlM BEACH BUDGET FOR FISCAL YFAR 1983-84 BY APPROPRIATIONS TRANS-
FIARIDA:
BE IT ORDAII~D BY THE VII31~GE OOi1NCII. OF NORTH PAlSi BEACH,
Section 1. Ordinance No. 14-83, the budget ordinance of the Village
of North Palm Beach, is hereby mnended 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 Flmd
Decrease Appropriations $11,000.00
Council Contingency
Accamt No. 61519-99.11
Increase Appropriations $11,000.00
Short term loan to Country Club
Accaamt No. 52-582-91.33
Country Club
Increase Revenues $11,000.00
Transfer from General Fund Account No. 383.210
Increase Appropriations $11,000.00
Pool R & M Machinery & Fpuipment
Accamt No. 12.1-572-46.$$0
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 Accanit No. 383-200
Increase Appropriations 11,230.00
Short term loan payment to General Fund
Accamt No. 51.1-572-73.16
General Fund
Increase Revenue $11,000.00
Short term loan receivable Country Club
Account No. 382-140
Increase Appropriations $11,000.00
Council Contingency
Accotmt No. 61-519-99.11
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 F~md by 8.5% of $11,000.00, for
Ithe number of days that $11,000.00 is loaned to the Country Club. Repay-
ment of the $11,000.00 from the Camtry Club shall be replaced in Cotmcil
t Contingency and invested at interest as idle funds, and interest at 8z%
on the $11,000.00 for the days of the loan shall be credited to interest an
idle funds to rebalance the General Fund.
Section 4. This Ordinance shall take effect immediately upon
passage.
PLACID ON FIRST READII~ THIS 9th DAY OF FEBRUARY 1984.
PLACID ON SECOND, FINAL READING AND PASSID THIS 23rd DAY OF
FEBRUARY 1984.
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