Agenda Item # 11.b.
City Commission Regular Meeting
- Meeting Date:
- 02/05/2018
- Re
- Funding Request for Golf Course
- Submitted For:
- Johnna Morris
SUBJECT:
Approve transfer of $358,000 to address the Golf Course funding shortage.
SUMMARY:
During the presentations of the monthly financial reports Commission has been made aware of the funding shortage in the Golf Course and the need to transfer funds. The Golf Course will need $281,709 to address the negative cash balance in the fund at fiscal year end and $76,291 for the Accrued Compensation payouts for former employees; a total of $358,000.
RECOMMENDATION:
Transfer $358,000 from th General Fund to address the shortages in Golf Course Fund.
ALTERNATIVES:
The Commission can allocate an amount they deem appropriate.
RESPONSIBLE STAFF:
Finance Director
COORDINATED WITH:
City Manager
Fiscal Impact
- Budgeted Y/N:
- N
- Fiscal Year:
- 2018
- Amount:
- $358,000
OTHER INFORMATION:
Funds to be transferred from General Fund's fund balance. This transfer will reduce General's surplus funds that are not currently budgeted to be used as operating expenditures.
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Finance Department | Johnna Morris | 01/08/2018 03:09 PM |
| City Manager | Nick Mimms | 01/29/2018 08:43 AM |
- Form Started By:
- qthompkins
- Started On:
- 01/08/2018 01:34 PM
- Final Approval Date:
- 01/29/2018