Item 7B v
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CITY OF ATLANTIC BEACH
CITY COMMISSION MEETING
STAFF REPORT
AGENDA ITEM # 7B
MARCH 26, 2007
AGENDA ITEM: ORDINANCE N0.20-07-84 AMENDING THE OPERATING
BUDGET FOR THE CITY OF ATLANTIC BEACH,
FLORIDA FOR FISCAL YEAR BEGINNING OCTOBER 1,
2006 AND ENDING SEPTEMBER 30, 2007.
SUBMITTED BY: Nelson Van Liere ~'~7 _
Finance Director
DATE: March 19, 2007
BACKGROUND: Identified as one of the City's strategic projects for this year is the
purchase of the Buchman Trust property. This is a large portion of
the marsh located in Atlantic Beach adjacent to the Intracoastal
Waterway. The City budgeted $450,000 for the purchase of the
land with the anticipation that other funds would become available
to supplement the City's funds.
The City just received notification of a grant award from the
Florida Communities Trust for the purpose of purchasing the land.
The City anticipates the final $200,000 needed to come from
contributions and donations from outside parties. This ordinance
provides a budget for those contributions and donations should a
sales agreement be reached. While the City anticipates that the
necessary funds will be received, the City is prepared to absorb a
shortfall in these contributions if the commitments from outside
parties are not honored. Coming to an agreement on the price of
the property will also involve two appraisals that are DEI' certified.
BUDGET: This ordinance will provide a $200,000 budget for the remainder
of the funds needed to move forward with the purchase of the land.
RECOMMENDATION: Approve Ordinance No. 20-07-84
ATTACHMENTS: Ordinance No. 20-07-84
~ REVIEWED BY CITY MANAGE
,~•
AGENDA ITEM # 7B
MARCH 26, 2007
ORDINANCE NO. 20-07-84
AN ORDINANCE AMENDING THE OPERATING BUDGET FOR THE
CITY OF ATLANTIC BEACH, FLORIDA FOR FISCAL YEAR
BEGINNING OCTOBER 1, 2006 AND ENDING 5EPTEMBER 30, 2007.
WHEREAS, the City Charter of the City of Atlantic Beach requires that the City
"~ Commission approve all budgetary increases and transfers at the fund level, and
WHEREAS, the nature of budgetary systems and those day to day decisions affecting such
budgetary systems require adjustments from time to time, and
WHEREAS, the City has received notification of a grant award from the Florida
"~'" Communities Trust to purchase the Buchman Trust Property for conservation. This amendment
supplements the original budget that only included city funds. The amounts included in this
amendment represent outside contributions. If for some reason those commitments are not honored,
~"" the City will draw down fund balance for the needed amount to fund the purchase and amenities
required.
NOW, THEREFORE, BE IT ENACTED BY THE CIT'~ CO~SSI01V ON
BEHALF OF THE PEOPLE OF THE CITY OF ATLANTIC BEACH, FLORIDA, that;
1. The Fiscal Year 2006/2007 Final Budget be amended as follows:
GENERAL FUND
Revenues:
Contributions and Donations $200,000
~"' Expenses:
Parks and Recreation
Capital Improvements
~" Land $175,000
Improvements Other Than Land $25,000
Change in Fund Balance $0
2. This ordinance shall take effect immediately upon its adoption.
Passed by the City Commission on first reading this day of March 26, 2007.
Passed by the City Commission on second and final reading this day of April 9, 2007.
Donald M. Wolfson
Mayor /Presiding Officer
Approved as to form and correctness:
Alan C. Jensen, Esquire
City Attorney
ATTEST:
Donna L. Bussey, CMC
City Clerk
