Subject:
Title
Amendment by resolution supplementing the Fiscal Year 2024 Budget realigning reserves and funds and recognizing unanticipated receipt of funds for requesting departments.
label
Recommended Action:
Recommended Action
Approval of the amendment by resolution supplementing the Fiscal Year 2024 Budget.
• Realign $27,003,300.00 in General Funds from reserves for expenditures related to Hurricane Helene.
• Realign $20,000.00 in General Funds for the Public Defender to correct funding allocations for IT-related purchases.
• Recognize $3,642,200.00 in the Solid Waste Revenue and Operating Fund in unanticipated revenue from interest and increase expenditures by $3,642,200.00 due to a billing error with the City of Pinellas Park.
• Recognize $50,000.00 in the Water Impact Fees Fund in unanticipated revenue and increase reserves by $50,000.00 to balance the fund.
• Recognize $50,000.00 in unanticipated revenue from interest and increase transfer to the Water Revenue and Operating Fund by $50,000.00 to transfer all available funding to that fund.Body
Body
Strategic Plan:
Deliver First Class Services to the Public and Our Customers
5.2 Be responsible stewards of the public’s resources
5.3 Ensure effective and efficient delivery of county services and support
Summary:
Summary
The attached resolution realigns $27,003,300 from General Fund reserves for Emergency Events, Pinellas County Sheriff’s Office (PCSO), and Property Appraiser’s Office (PAO) due to Hurricane Helene related expenditures. It also realigns $20,000 in the General Fund for Public Defender to allocate funding correctly for IT related purchases.
The attached resolution recognizes $3,642,200 in unanticipated revenue for the Solid Waste Revenue and Operating Fund and appropriates expenditures for a two-year billing error with the City of Pinellas Park.
The attached resolution also recognizes $50,000 in unanticipated revenue from a transfer from the Water Impact Fees Fund and increases reserves by $50,000 to balance the fund. It also recognizes $50,000 in unanticipated revenue for the Water Impact Fees Fund from interest and increases transfer to the Water Revenue and Operating Fund by $50,000 to transfer all available funding to that fund. This action will close out the Water Impact Fees Fund, which will no longer be utilized by Pinellas County Utilities’ budget moving forward.
Body
Background Information:
Realignment of $27,003,300 from General Fund reserves to Emergency Events ($25,500,000), PCSO ($1,334,950), and PAO ($168,350) for Hurricane Helene related expenses.
Realignment of $20,000 in the General Fund for Public Defender to correct funding allocations for IT related expenses.
Recognize $3,642,200 in unanticipated revenue from interest and appropriate funding to operating expenses for a billing correction with the City of Pinellas Park. Solid Waste became aware of a two-year billing problem with the City of Pinellas Park and will have to cover the entire expense correction in the FY24 Operating Budget.
Recognize $50,000 in unanticipated revenue from a transfer from the Water Impact Fees Fund and increase reserves by $50,000 to balance the fund. Also, recognize $50,000 in unanticipated revenue for the Water Impact Fees Fund from interest and increase transfer to the Water Revenue and Operating Fund by $50,000 to transfer all available funding to the Water Revenue and Operating Fund. This action will close out the Water Impact Fees Fund, which will no longer be utilized by Pinellas County Utilities’ budget moving forward.
Fiscal Impact:
The total fiscal impact to the Solid Waste Revenue and Operating Fund is a $3,642,200 increase to revenue and expenditures.
The total fiscal impact to the Water Revenue and Operating Fund is a $50,000 increase to revenue and expenditures.
The total fiscal impact to the Water Impact Fees Fund is a $50,000 increase to revenue and expenditures.
There is no net impact to the General Fund’s bottom line as these actions are realignments of expenditures only. Total realignment is $27,023,300 in the General Fund.
Staff Member Responsible:
Shane Kunze, Budget and Financial Management Analyst, Office of Management and Budget
Chris Rose, Director, Office of Management and Budget
Partners:
N/A
Attachments:
Res-24-XX
Notice of Public Hearing