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Board of County Commissioners <br /> October 5, 2015 <br /> Page 2 of 2 <br /> Interfund borrowing for the golf course includes the interfund loan for replacement of the <br /> irrigation system ($422,500) as well as the remaining balance on the golf cart loan ($74,400); <br /> however, it excludes the.interf ind loan from the General Fund that was used to pay off the Series <br /> 2003 bonds in 2013. As of September 30, 2015, the remaining principal balance on this loan was <br /> $380,000, and the final principal payment will be paid on September 1, 2016. <br /> Staff is requesting approval from the Board of Commissioners for interfund borrowing in the <br /> funds listed above as well as other funds as necessary. <br /> Staff Recommendation <br /> Staff recommends approval for interfund borrowing as necessary to cover any cash deficits of <br /> individual funds that may occur. <br /> Distribution.. <br /> Edward Halsey, Internal Auditor, Finance <br /> APPROVED AGENDA ITEM: <br /> BY: Indian River County roved Date <br /> Jos ep A. Baird Administrator is /0)1/6 <br /> County Administrator Legal o <br /> /O <br /> FOR: October 13, 2015 Bud et S <br /> Department <br /> Risk Management <br /> 82 <br />