2017-R-30 RESOLUTION 2017-R-30
A RESOLUTION OF THE CITY COUNCIL OF
EDGEWATER, FLORIDA, ADOPTING BUDGET
ADJUSTMENTS TO THE 2017-2018 FISCAL YEAR
BUDGETS AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Edgewater, by Resolution 2017-R-28, adopted an operating
budget for Fiscal Year 2017-2018; and
WHEREAS, the budget adjustments increase revenues and expenditures in total in an
amount not to exceed $750,000 pursuant to an internal loan between Fund 001 "General Fund"
and Fund 448 "Stormwater Utility"; and
WHEREAS, the internal loan will be charged the Florida Prime "1-Day SEC Yield" as
of the date of the internal loan funds transfer and have a loan amortization not to exceed six
months;and
WHEREAS,the budget adjustments will allow the City of Edgewater to adjust the Fiscal
Year 2017-2018 budget.
NOW,THEREFORE,be it resolved by the City Council of Edgewater, Florida.
Section 1. Budget Adjustment: The City Council of the City of Edgewater amends
the Fiscal Year 2017-2018 budget by revising the budget in total in an amount not to exceed
$750,000 pursuant to an internal loan between Fund 001 "General Fund" and Fund 448
"Stormwater Utility".
Section 2. Effective Date. This Resolution shall become effective immediately upon
passage and adoption. After motion to approve was made by
with Second by
ccv 4. . The vote on this resolution is as follows:
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AYE NAY
Mayor Michael Ignasiak
Councilwoman Christine Power N
Councilwoman Amy Vogt
Councilman Daniel Blazi
Councilman Gary Conroy �.
PASSED AND DULY ADOPTED this 2"d day of October,2017.
ATTEST: CITY COUNCIL OF THE
CITY OF EDGEWATER,FLORIDA
�` � - -t `�►� t , By: //kh' I ,
Robin L. Matusick Michael Ignasi• i
City Clerk Mayor
For the use and reliance only by the City of Approved by the City Council of the City of
Edgewater,Florida. Approved as to form Edgewater at a meeting held on this 2"d day
and legality by: of October,2017 under Agenda Item No.
Aaron R. Wolfe, Esquire 8P .
City Attorney
Doran, Sims,Wolfe&Ciocchetti
2
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