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County Administrator's Report 12. 12.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	04/09/2015
Issue: SBA#112 - Beach Road Bond Interest Payment
From:	Stephan Hall
Department:	OMB
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Supplemental Budget Amendment #112 - Stephan Hall, Management and Budget Services Department Interim Director

That the Board adopt the Resolution approving Supplemental Budget Amendment #112, Bob Sikes Toll Fund (167), and Debt Service Fund (203), in the amount of $12,207, to transfer additional funds to make the debt service interest payment for the widening of Via de Luna Drive (Beach Road Bonds), due to a change in the debt service schedule. The Board forgave the Santa Rosa Island Authority's (SRIA) obligation for repayment of the Beach Road Bonds in Fiscal Year 2013/2014.

BACKGROUND:

Additional funds are needed for the required debt services payment for the widening of Via de Luna on Pensacola Beach. 100% of the funding must now come from the Bob Sikes Toll Fund sinc hte BCC forgave the SRIA's obligation to help pay for the loan. Due to a change in the interest calculation on the debt service schedule an additional $12,207 is required to make the interest payment.

BUDGETARY IMPACT:

This amendment will increase Fund 203 and decrease Fund 167 by 12,207.

LEGAL CONSIDERATIONS/SIGN-OFF:

N/A

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

Board policy requires increases or decreases in revenues to come before the Board.

IMPLEMENTATION/COORDINATION:

N/A

Attachments
SBA#112