Manatee County Government Administrative Center Honorable Patricia M. Glass Chambers, First Floor 9:00 a.m. - November 19, 2019
November 19, 2019 - Regular Meeting
Agenda Item #35

Infrastructure Sales Tax Interfund Loan Resolution R-19-155 - Parks and Natural Resources


Contact and/or Presenter Information
Jan Brewer, Director, Financial Management, x 3726

Action Requested

Adoption of Resolution R-19-155 authorizing a short-term loan not to exceed $116,371 from the Infrastructure Transportation Capital Projects fund (Fund 850) to the Infrastructure Sales Tax Parks and Community Facilities fund (Fund 852).

Adoption of Budget Resolution B-19-116 adjusting the FY19-23 CIP amending the annual budget for Manatee County, FL, for fiscal year 2019.

Enabling/Regulating Authority

Section 212.055(2) Florida Statutes

Ordinance 16-35 Infrastructure Sales Tax Referendum

Resolution R-18-130

Background Discussion

Ordinance 16-35 provided for a referendum to be conducted allowing for the collection and distribution of an Infrastructure Sales Tax. The referendum was passed by voters on November 8, 2016, and beginning January 1, 2017, a Half-Cent Discretionary Local Government Infrastructure Sales Surtax is being collected in Manatee County.

Resolution R-18-130, adopted by the Board on August 7, 2018, and Exhibit B of the Resolution, Infrastructure Sales Tax Project and Equipment List, contained a detailed list of the projects to be funded by the Infrastructure Sales Tax and their estimated costs.

This Budget Amendment transfers $116,371 from reserves in the Infrastructure Transportation Capital Projects fund to the Infrastructure Parks & Community Facility Capital Projects fund to fund a portion of the FY19 imputed interest for interfund loans between funds. This Budget Amendment is being presented to the Board with Interfund Loan Resolution R-19-155.

County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other

Reviewing Attorney

Instructions to Board Records
Copy of adopted resolutions to Financial Management Department: Budget@mymanatee.org.

Cost and Funds Source Account Number and Name
$116,371 fund 852

Amount and Frequency of Recurring Costs

Attachment:  R-19-155 Interfund Loan Parks Imputed Interest.pdf
Attachment:  B-19-116 IST Interfund Loan for Interest.pdf