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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 interfund 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 />I <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: <br />Josep ► A. Baird <br />County Administrator <br />FOR: October 13, 2015 <br />Indian River County <br />.roved <br />Date <br />Administrator <br />�'4 <br />/0 )71)5 <br />Legal <br />16 <br />Budget <br />6 <br />10/5 S <br />Department <br />Risk Management, <br />82 <br />