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BOARD OF COUNTY COMMISSIONERS
AGENDA REQUEST
DATE: March 18, 2014
TO: Honorable Chairman and Members of the Board
FROM: Ed Schroeder
SUBJECT: Reallocation of First Percentage Reserves
DEPARTMENT: Tourist Development Department
BCC DISTRICT:
STATEMENT OF ISSUE: Pursuant to Section D.200(1)(e) of the Tourist Development
Department Operations and Procedures Manual, allocation of reserve funds requires
recommendation from the Council and Board action.
BACKGROUND: In April 2012 the County entered into an interlocal agreement for the
Western Destin Beach Restoration Project in an amount not to exceed $8 million dollars. The
project was not budgeted in FY14 and the FY13 available balance of $562,103 was carried
forward in cash. These remaining funds need to be transferred from the 1175-599010 reserves
account to the 1175-581702 project expenditures account to complete the project.
The Tourist Development Council unanimously approved the reallocation of reserve funds at its
February 27, 2014 meeting.
OPTIONS: Approve or Disapprove
RECOMMENDATION: Approve the reallocation of $562,103 in reserve funds to complete the
Western Destin Beach Restoration Project.
RECOMMENDED BY:
APPROVED BY:
Ernie Padgett, County Administrator