Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - June 18, 2013
REVISED June 18, 2013 - Regular Meeting
Agenda Item #34

Interfund Loan from the General Fund to Beach Erosion Control Capital Project Fund


Contact and/or Presenter Information
Jim Seuffert, Director, Financial Management Department, Ext 3730

Action Requested
  • Adopt Resolution R-13-108 for an Interfund Loan from the General Fund (001) to the Beach Erosion Control Capital Project Fund (312) in an amount not to exceed $7,387,950.

Enabling/Regulating Authority
Section 163.1 of the Florida Statutes.

Background Discussion
  • There are four projects that comprise the Beach Renourishment Project.  These projects will be funded by Federal and State grants and matching funds from Manatee County. They are as follows:
    • Central Beach Renourishment    - $21,280,950
    • Coquina Beach Renourishment   - $ 7,175,000
    • Longboat Pass Jetty                   - $ 5,050,000
    • Cortez Groins Project                - $ 2,860,000
  • Manatee County's estimated share of all projects is $9,912,950.
  • At the current time a General Fund loan is needed for $7,387,950 to begin construction of projects.
  • The interfund loan will be replaced with a loan from an outside source.
  • Repayment of loan will be started in FY15 from Beach Renourishment one cent tourist tax.

County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other

Reviewing Attorney

Instructions to Board Records
Signed copies of resolutions to candice.cruz@mymanatee.org, lori.stephens@manateeclerk.com, susan.flowers@manateeclerk.com, robin.amos@manateeclerk.com, abby.lindecamp@manateeclerk.com, jayne.roberts@manateeclerk.com.

Cost and Funds Source Account Number and Name
Fund 312 and Fund 001

Amount and Frequency of Recurring Costs

Attachment:  R-13-108 Interfund loan Beach Renourishment and GF.pdf