Subject:
Title
Resolution supplementing the Fiscal Year 2018 Budget for unanticipated fund balances in the Surface Water Utility, Capital Projects, Airport Revenue and Operating, Solid Waste Renewal and Replacement, Water Renewal and Replacement, and Sewer Renewal and Replacement Funds.
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Recommended Action:
Recommended Action
Conduct a public hearing and adopt the attached resolution recognizing and appropriating unanticipated fund balance in Surface Water Utility, Capital Projects, Airport Revenue and Operating, Solid Waste Renewal and Replacement, Water Renewal and Replacement, and Sewer Renewal and Replacement Funds in the Fiscal Year 2018 (FY18) budget.
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:
This attached resolution recognizes and appropriates unanticipated fund balance to provide sufficient budget in FY18 for multiple capital improvement projects.
Background Information:
Generally, unanticipated fund balances result when actual expenditures are less than those estimated during the budget development process and/or revenues exceed those anticipated. The FY18 actual beginning fund balances have exceeded the budget in the Surface Water Utility Fund by approximately $670,000.00; the Capital Projects Fund by approximately $25,952,600.00; the Airport Revenue and Operating Fund by approximately $3,740,000.00; the Solid Waste Renewal and Replacement by approximately $12,822,000.00; the Water Renewal and Replacement Fund by approximately $411,600.00; and the Sewer Renewal and Replacement Fund by approximately $1,957,000.00 due principally to changes in project scheduling not anticipated during budget development. This resolution carries forward unanticipated lapsed appropriation into the FY18 budget for projects that did not progress as anticipated in FY17.
In accordance with Section 129.06(2)(f), Florida Statutes, if the source of unanticipated receipts is not specifically associated with a particular purpose such as grants, donations or reimbursements, this budgetary action requires a public hearing. The public hearing was advertised in advance of the February 06, 2018 meeting. The attached resolution recognizes FY18 unanticipated beginning fund balance within the various funds identified and increases appropriation accordingly.
Fiscal Impact:
Approval of this resolution recognizes unanticipated beginning fund balance in the amount of $45,553,200.00 in the Surface Water Utility, Capital Projects, Airport Revenue and Operating, Solid Waste Renewal and Replacement, Water Renewal and Replacement, and Sewer Renewal and Replacement Funds and increases the respective project cost center budgets accordingly.
Staff Member Responsible:
Jason Rivera, Budget and Financial Management Analyst, Office of Management and Budget.
Partners:
N/A
Attachments:
Resolution
Notice of Public Hearing