98-12 v ti
RESOLUTION NO.98- 12
A RESOLUTION AMENDING THE OPERATING BUDGET FOR THE CITY OF
ATLANTIC BEACH,FLORIDA,FOR THE FISCAL YEAR BEGINNING
OCTOBER 1, 1997 AND ENDING SEPTEMBER 30, 1998 -
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.
NOW,THEREFORE,BE IT RESOLVED by the City Commission of the City of Atlantic
Beach,that the following Budget Modification be approved for the 1997-1998 Operating Budget.
CAPITAL IMPROVEMENT FUND
Revenues:
Contribution from the Port Authority $30,000
Expenditures:
Land-Purchase cost of Dutton Island Project $20,096
Description:
To amend the Operating Budget to reflect an increase in the City's portion of the Dutton Island
Project which will be funded from a contribution from the Port Authority. The cost to the City
was originally budgeted at$257,500 and the amount due at closing is$277,595.57 Although the
budget must be increased to the amount due at closing,the net cost to the City will be
$247,595.57 or$9,904.43 less than the original budget once the$30,000 is received from the
Port Authority.
Adopted by the City Commission this 23rd day of March, 1998.
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Suzanne Shaughnessy
Mayor/Presiding Officer
Approved as to form and correctness
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lan .Jen, Esquire
City Atto ey
ATTEST:
Maur en King,CMC
City Clerk