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Budget Resolution Transferring Cost-Sharing Reimbursements From Nordica Road Paving Municipal Service Benefit Unit to Constitutional Gas Tax Fund
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BRIEF OVERVIEW
The attached budget resolution is submitted for Board approval appropriating funds into transfer account, adjusting reserves as necessary, to process cost-sharing reimbursement from the Nordica Road Municipal Service Benefit Unit (MSBU) paving project into the Constitutional Gas Tax Fund (1013) in the amount of $60,275.54 where the project was originally funded.
FINANCIAL IMPACT
The MSBU cost-sharing transfer will impact the following accounts:
Revenue:
Fund: 1013 - Constitutional Gas Tax, Account: 3817000 - Transfer/Misc-MSBU Funds, Amount: $60,276.00
Expense:
Fund: 1013 - Constitutional Gas Tax, Department: 03211 - Debt Srv/Reserv-Const GT, Account: 5909967 - Budget Res-Cap Imp Proj, Amount: $60,276.00
Fund: 7929 - Noridca Paving MSBU, Department: 09929 - Nordica Paving MSBU, Account: 5909910 - Budget Res for Contingency, Amount: (-$60,276.00)
Fund: 7929 - Nordica Paving MSBU, Department: 09929 - Nordica Paving MSBU, Account: 5910130 - Transfer-Const Gas Tax, Amount: $60,276.00
LEGAL NOTE
The Board is authorized to act upon this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairman’s signature on the attached budget resolution to process cost-sharing reimbursements from the Nordica Road Paving Municipal Service Benefit Unit (MSBU) paving project.