Agenda Item Title:
Title
Administrative Services recommending the Council increase FY 2020 appropriations in the Golf Fund, Risk Management Fund, and Debt Service Fund
Body
Presenter: Brian Kelley, Administrative Services Director
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Description/Background:
20-18 C
Exhibit A - The bond issue for the Golf Course was refinanced in order to achieve interest savings. These appropriation increases will cover the costs necessary to pay off the current bond and begin the new debt schedule.
Exhibit B - General liability claims payments and property insurance renewal rates have come in higher than anticipated this fiscal year. These appropriation increases will cover the associated costs.
20-19 C
Exhibit A - The bond issue for Storm Water projects was refinanced in order to achieve interest savings. These appropriation increases will cover the costs necessary to pay off the current bond and begin the new debt schedule.
Recommended Action and/or Suggested Motion:
Recommendation
Motion to adopt resolutions 20-18C and 20-19C increasing FY20 appropriations in the Golf, Risk Management, and Debt Service Funds.