2019-02 Budget Amendment for General Fund Capital Lease AcquisitionsORDINANCE NO. 2019-02
AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF
NORTH PALM BEACH, FLORIDA, AMENDING THE ADOPTED GENERAL
FUND BUDGET FOR FISCAL YEAR 2019 TO CLASSIFY THE TOTAL
AMOUNT FINANCED FOR VILLAGE VEHICLES AS CAPITAL OUTLAY;
PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, during Fiscal Year 2019, the Village Council approved two capital lease programs,
one for multi -department vehicles and the other for a fire truck; and
WHEREAS, while the Village has budgeted the annual debt services for these leases in the
General Fund, the Village Auditor has advised the Village that the total amount financed for
capital leases should be shown in the Fiscal Year 2019 budget as "other financing uses/sources"
and capital outlay for financial reporting purposes; and
WHEREAS, notwithstanding the lack of any net income effect, because this amendment 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 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 THE VILLAGE
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 2019 as follows:
Budget Amendment:
Fund
Account
Description
Use
Source
General Fund
A4200-09901
Capital Lease
$826,943
General Fund
A5540-66000
Capital Lease
$826,943
Total
I
1
1 $8269943
$8269943
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. If any section, paragraph, sentence, clause, phrase or word of this Ordinance is for
any reason held by a court of competent jurisdiction to be unconstitutional, inoperative or void,
such holding shall not affect the remainder of this Ordinance.
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Section 5. All ordinances and resolutions, or parts of ordinances and resolutions, in conflict
herewith are hereby repealed to the extent of such conflict.
Section 6. This Ordinance shall be effective immediately upon adoption.
PLACED ON FIRST READING THIS 28th DAY OF MARCH, 2019.
PLACED ON SECOND, FINAL READING AND PASSED THIS 11TH DAY OF APRIL, 2019.
(Village Seal) all
a
AYOR
ATTEST:
VILLAGE CLERK
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
VILLAGE ATTORNEY
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