February 9, 2016

MEMO TO:           Mayor Barber and Board of Commissioners

FROM:                  Frank A. Rush, Jr., Town Manager

SUBJECT:           Budget Amendment – General Fund

The Board of Commissioners is asked to approve the attached General Fund budget amendment at the February 9 meeting. The attached budget amendment appropriates a total of $8,168 to the FY 15-16 Parks and Recreation budget to cover a portion of the higher-than-anticipated cost for the replacement of 3 beach access walkways.

As noted in a separate agenda item, the price quotes for the replacement of the 3 beach access walkways exceed the amount budgeted ($50,000) by nearly $15,000.  Because the Town will not be purchasing new electronic community information signs for placement along NC 58, a total of $10,000 that was originally budgeted for this purpose in the Parks and Recreation budget is available for a portion of the additional cost.  The attached budget amendment will provide an additional $8,168 for the Parks and Recreation budget, and will also provide a small amount of extra funding in the Parks and Recreation budget to assist with the cost of the planned “wayfinding” signs to be installed later this spring.

The $8,168 included in the attached General Fund budget amendment will be transferred from the capital project account established for the construction of the Coast Guard Road bicycle path in 2014.  That project is complete, and the project account will be closed out in the near future.

I recommend approval of the attached General Fund budget amendment.