June 14, 2016
MEMO TO: Mayor Barber and Board of Commissioners
FROM: Frank A. Rush, Jr., Town Manager
SUBJECT: Budget Amendments – General Fund, Half-Marathon Fund, Special Drug Fund
The Board of Commissioners is asked to approve three attached budget amendments in preparation for the close-out of FY 15-16 on June 30. The attached memo from Laura Rotchford, Finance Director, includes a detailed explanation of the three budget amendments.
The General Fund budget amendment appropriates an additional $22,989 of unanticipated revenues for various expenditures in different departments that were either unexpected or were strategically completed in FY 15-16 in order to make the FY 16-17 budget more manageable. Of special note, there is an additional appropriation of $14,500 in the Parks and Recreation Department. These funds will be used to construct a new platform / stage at the Western Ocean Regional Access that will serve as the stage for the planned Emerald Isle Beach Music Festival later this summer, and will also be used to construct a new pedestrian walkway across wetlands along an important trail in Emerald Isle Woods Park (that runs along Cape Emerald).
The Half-Marathon Fund budget amendment is simply a “clean-up” amendment. The Board should note, however, that the actual net profit from the 2016 races was actually more than reported at the May Board meeting – slightly more than $60,000! A total of $30,000 was remitted to the Cystic Fibrosis Foundation and $30,000 was transferred to the Bicycle and Pedestrian Fund.
The Special Drug Fund budget amendment is also a “clean-up” amendment. This fund is statutorily restricted to Police Department expenditures, and now includes only a small amount.
I recommend approval of the attached budget amendments.