HomeMy WebLinkAboutResolutions - 1986.06.12 - 10798MISCELLANEOUS RESOLUTION 86168 June 12, 1986
BY: FINANCE COMMITTEE, DR. G. WILLIAM CADDELL, CHAIRPERSON
IN RE: MANAGEMENT AND BUDGET - 1986 BUDGET FOR DEBT RETIREMENT FUNDS
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS Coopers Lybrand recommend budgets for debt retirement accounts; and
WHEREAS paragraph 16 of Public Act 621 of 1978 does not exclude Debt Retire-
ment Funds, we are in agreement that budgets should be established; and
WHEREAS there exists Bond and Interest Redemption Funds for the Medical Care
Facility, Law Enforcement Complex and the Court House - East Wing.
NOW THEREFORE BE IT RESOLVED that the 1986 Budget be amended by an increase
of $82,264 to add Debt Retirement Funds for Medical Care Facility, Law Enforcement
Complex and Court House - East Wing as detailed on the attached schedule.
Mr. Chairperson, on behalf of the Finance Committee, I move the adoption of
the foregoing resolution.
FINANCE COMMITTEE
HEr77.':',' THE FOREGOING RESOLUT!
0; to k COMPLEX
FUND BALANCE - JANUARY 1
REVENUE:
RENTAL INCOME
INTEREST INCOME
111;J"G`
OAKLAND COUNTY, MICHIGAN
1986 BUDGET
BOND AND REDEMPTION FUNDS
FUND DESCRIPTION
1983 1984 1985
4,, r•rr r , ACTUAL ACTUAL
1986
BUDGET
tiEDICAL tL 7ACILITY
zUND BALANCE - JANUARY 1
REVENUE:
RENTAL INCOME
INTEREST INCOME
TOTAL REVENUE
EXPENDITURES:
PRINCIPAL PAYMENTS
INTEREST PAYMENTS
PAYING AGENT FEES
$437,202 $548,079 $621,560 $688,234
$274,500 $316,250 $305,500 $293,150
111,452 73,561 67,003 44,800
$385,952 $389,811 $372,503 $337,950
$100,000 $150,000 $150,000 $150,000
174,400 165,650 155,150 144,650
675 680 679 710
$275,075 T316,330 $305,829 $295,360 TOTAL EXPENDITURES
INCR/(DCR) FUND BALANCE $110,877 $73,481 $66,674 $42,590
FUND BALANCE - DECEMBER 31* $548,079 $621,560 $688,234 $730,824
TOTAL REVENUE
EXPENDITURES:
PRINCIPAL PAYMENTS $275,000 $300,000 $325,000 $325,000
INTEREST PAYMENTS 375750 358500 339750 320250
PAYING AGENT FEES 1,663 1,418 1,401 775
TOTAL EXPENDITURES $652,413 $659,918 $666,151 $646,025
INCR/(DCR) FUND BALANCE $59,161 $52,982 $41,169 $42 1 825
FUND BALANCE - DECEMBER 31* $321,770 $374,752 $415,921 $458,746
D BY BUDGET DIVISION 05/29/86 PAGE 1
$262,609 $321,770 $374,752 $415,921
$661,750 $661,755 $661,750 $661,750
49,824 51,145 45,570 27,100
$711,574 $712,900 $707,320 $688,850
FUND DESCRIPTION
1984
CTUAL
1985
ACTUAL
1986
BUDGET
1983
ACTTJA:,
BA
REVENUE:
RENTAL INCOME
INTEREST INC -,7
$2,737,271
$236,500
193,474
$2,959,839
$5
272,347
$3,019,446
$0
416,006
$3,222,674
$(
209,50(
$125,000
87,541
237
$212,778
$203,228
$130,00(
82,377
274
$212,65:
($3,15:
OAKLAND COUNTY, MICHIGAN
1986 BUDGET
BOND AND RED. rTION FUNDS
TOTAL REVENUE $429,974 $272,352 $416,006 $209,50(
EXPENDITURES:
PRINCIPAL PAYMENTS
INTEREST PAYMENTS
PAYING AGENT FEES
TOTAL EXPENDITURES
INCR/(DCR) FUND BALANCE
FUND BALANCE - DECEMBER 31*
$110,000 $120,000
97,160 92,502
246 243
$207,406 $212,745
$222,568 $59,607
$2,959,839 $3,019,446 $3,222,674 $3,219,52:
*BALANCE RETAINED IN FUND AND DESIGNATED FOR
SECURITY OF BONDS AND EVENTUAL RETIREMENT
PER BOND ORDINANCE.
PAGE 2 PREPARED BY BUDGET DIVISION 05/29/86
#86168 June 12, 1986
Moved by Caddell supported by Gosling the resolution be adopted.
AYES: Moffitt, Nelson, Olsen, Page, Perinoff, Pernick, Price, Rewold,
Rowland, Skarritt, Webb, Wilcox, Aaron, Caddell, Calandro, Doyon, Fortino,
Gosling, Hassberger, Hobart, R. Kuhn, S. Kuhn, Lanni, Law, McConnell, McPherson.
(26)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, Clerk of the County of Oakland and having a seal,
do hereby certify that I have compared the annexed copy of
this Miscellaneous Resolution adopted by the Oakland County Board of Commissioners
at their meeting held on June 12, 1986
with the orginial record thereof now remaining in my office, and
that it is a true and correct transcript therefrom, and of the
whole thereof.
In Testimony Whereof, I have hereunto set my hand and affixed the
seal of said County at Pontiac, Michigan
12th day of 01/
kt, #
1986 19 86
ALLEN
Counity Clerk/Register of Deeds
this