TO: Chair and Members of the Board
FROM: Diane Colonna, Executive Director
DATE: October 14, 2015
Title
NOTIFICATION OF BUDGET TRANSFER
BACKGROUND:
Per the adopted By-Laws of the Margate CRA, “the Executive Director shall have the power, without the prior approval of the Board, to make budgetary transfers among budgeted accounts up to twenty five thousand dollars ($25,000) per transfer, and such transactions reported to the Board at the next meeting.”
Attached please find a Budget Transfer Form that was recently processed, transferring $11,000.00 from the Capital Projects Contingency Account to the Margate Entrance Improvements (Coconut Creek Parkway Median) account. The funds were necessary to pay the costs of equipment and impact fees associated with a new water meter being installed for the irrigation of the new landscape materials in the median.
RECOMMENDATION: No action necessary.
FISCAL IMPACT: $11,000.00 transferred from 340-0510-590.91-02 to 340-0510-512.68-36.
CONTACT PERSON: Diane Colonna, Executive Director