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2016-11 General Fund Budget AmendmentORDINANCE NO. 2016-11 AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, AMENDING THE ADOPTED GENERAL FUND BUDGET FOR FISCAL YEAR 2015 -2016 TO PROVIDE FUNDS FOR SHORTFALLS IN VILLAGE ACCOUNTS AND TRANSFER REMAINING SAVINGS IN THE AMOUNT OF $200,000 TO THE CAPITAL PROJECTS RESERVE ACCOUNT TO FUND THE VILLAGE'S CAPITAL IMPROVEMENT PLAN; PROVIDING FOR CONFLICTS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Village realized an estimated savings of $280,000 within the Village's General Fund; and WHEREAS, the Village Council wishes to utilize these savings to fund shortfalls in two Village General Fund accounts for the Village's Small Business Grant Program and for Solid Waste Disposal and transfer the remainder to the Capital Projects Fund to continue funding the Village's Capital Improvement Plan; and WHEREAS, because this amendment increases the total amount of the General Fund 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 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 2015 -2016 as follows: Budget Amendment: Account Description Use Source General Fund: A2128 -03510 Recreation — Developer Fees $206,000 A0300 -00100 Electricity Franchise 74,000 A7020 -34340 Solid Waste Disposal Fee $55,000 A5206 -33125 Small Business Grant Expense 25,000 A5540 -49032 Transfer out to Capital Projects Fund 200,000 Total General Fund $280,000 $280,000 Capital Projects Fund: K3900 -09180 Transfer in from General Fund $200,000 K5541 -66000 Reserve Expenses — Capital $200,000 Total Capital Projects Fund $200,000 $200,000 Page 1 of 2 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 All ordinances and resolutions, or parts of ordinances and resolutions, in conflict herewith are hereby repealed to the extent of such conflict. Section 5. This Ordinance shall be effective retroactive to September 30, 2016. PLACED ON FIRST READING THIS 10TH DAY OF NOVEMBER, 2016. PLACED ON SECOND, FINAL READING AND PA; (Village Seal) ATTEST: VILLAGE CLERK APPROVED AS TO FORM AND LEGAL <SUFFICIENCY: VILLAGE ATTORNEY Page 2 of 2