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County Administrator's Report 10. 3.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	10/09/2014
Issue: Supplemental Budget Amendment #4 - Beach Renourishment on Santa Rosa Island
From:	Amy Lovoy
Department:	OMB
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Supplemental Budget Amendment #4 - Beach Renourishment on Santa Rosa Island - Amy Lovoy, Management and Budget Services Department Director

That the Board adopt the Resolution approving Supplemental Budget Amendment #4, Local Option Sales Tax III, Fund (352), in the amount of $8,500,000, recognizing Loan proceeds and appropriating them to the Santa Rosa Island Authority (SRIA) to renourishment areas of Pensacola Beach.

BACKGROUND:

On September 25, 2014, the Board approved a resolution authorizing a financing in the amount of $8,500,000. These funds will be transferred to the SRIA for the purpose of renourishing Pensacola Beach.

BUDGETARY IMPACT:

This supplemental budget amendment recognizes $8,500,000 in loan proceeds. These funds will be transferred to the SRIA in 4 quarterly draws.

LEGAL CONSIDERATIONS/SIGN-OFF:

N/A

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

N/A

IMPLEMENTATION/COORDINATION:

N/A

Attachments
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