1976-65 Directing the Manager & Finance Director to Create an Interdepartmental Accounting Between the Country Club & the General Fund.. ,~
RESOLUTION N0, 65-76
A RESOLUTION OF THE VILLAGE COUNCIL OF NORTH PALM BEACH,
FLORIDA, DIRECTING THE VILLAGE MANAGER AND VILLAGE FINANCE DIRECTOR
TO PREPARE AN INTERDEPARTMENTAL ACCOUNTING BETWEEN THE DEPARTMENT OF THE
COUNTRY CLUB AND THE GENERAL FUND OF THE VILLAGE WHEREBY THE OPERATING
INCOME OF THE COUNTRY CLUB DEPARTMENT WOULD REPAY THE SUM OF $10,000.00
PER YEAR, INCLUDING INTEREST ON THE MONEYS ADVANCED FROM THE GENERAL
FUND OF THE VILLAGE TO THE COUNTRY CLUB FUND FOR REMODELING THE BAR IN
THE DINING ROOM.
BE IT RESOLVED BY THE VILIAGE COUNCIL OF NORTH PALM BEACH,
FLORIDA
Section 1. The Village Manager and Village Finance Director
are directed to prepare an interdepartmental accou nhing between the
Department of the Country Club and the general fund of the Village whereby
the operating income of the Country Club Department would repay the sum
' of $10,000.00 per year, including interest, on the moneys advanced from
the general fund of the Village to the Country Club fund for remodeling
the bar in the dining room. A copy of the repayment schedule showing
the repayment or principal of $75,000.00, together with interest thereon
at the rate of 6/, is attached to this Resolution and by reference made
a part hereof.
Section 2. In preparing all Village budgets and accountings
for the ten year period ending in fiscal year 1985, the funds for re-
payment of the bar remodeling costs shall be shown as a payable in the
Country Club portion of the budget, and as a receivable in the general
fund portion of the budget.
Section 3. This Resolution shall take effect immediately
upon passage.
' FASSED AND ADOPTED THIS 26 DAY OF AUGUST, 1976.
/s/ Mervin H. McIntyre
VICE MAYOR
ATTEST:
/s/ Dolores R. Walker
Village Clerk
,,
'~
VILLAGE OF tIORTN PA LP; BEAC}f
BA P. D L iJG
REPAY)?EtlT SCHEDULE
YEAR PRINCIPAL INTEP.EST
60
1976 5,500 4,500
1976 5,830 4,70
1977 6,180 3,820
19,78 6,55 3,449
1979 6,944 3,056
1980 .7,360 2,640
1981 7,802 2,198
1982 8,270 1,730
1983 8,766 1,234
1984 9,292 708
1985 2,505- 150
Z ,000 27~
~_
r,.
TATALS
10,000
10,000
10,000
10,000
.10,000
10,000
10,000
10,000
10,000
10,000
2,655
10
i-