July 12, 2016

MEMO TO:           Mayor Barber and Board of Commissioners

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

SUBJECT:           Budget Amendments – General Fund, Future Beach Nourishment Fund,

Beach Music Festival Fund

The Board of Commissioners is asked to approve three procedural budget amendments at the July 12 meeting.  The three budget amendments do not represent any additional expenditures not previously authorized by the Board of Commissioners, and are presented simply for budgetary accounting purposes.
Amendment 1, Amendment 2, Amendment 3

The attached memo from Laura Rotchford, Finance Director, includes an explanation of each of the three budget amendments.  The Board should note the creation of a new Special Revenue Fund to accurately segregate revenues and expenditures associated with the Emerald Isle Beach Music Festival, scheduled for August 27, 2016.  There are no general tax revenues being used for this special event, which is funded 100% by a contribution from the Carteret County Tourism Development Authority and event proceeds.

I recommend approval of the three budget amendments.