Subject:
Title
Resolution to appropriate unanticipated fund balance in the Water Renewal & Replacement, Sewer Renewal & Replacement, and Fleet Management Funds.
label
Recommended Action:
Recommended Action
Adoption of a resolution to appropriate unanticipated fund balance in the Water Renewal and Replacement, Sewer Renewal and Replacement, and Fleet Management Funds.
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:
The attached resolution is processed as a public hearing item in accordance with Section 129.06(2)(f), F.S. Notice of this public hearing was published in the Tampa Bay Times on November 6, 2015.
Background Information:
The Water Renewal & Replacement, Sewer Renewal & Replacement, and Fleet Management Funds have unanticipated fund balances that are available for the re-appropriation of these funds in the Fiscal Year 2016 (FY16) Budget. The re-appropriation is necessary to provide sufficient budget for FY16 vehicle and equipment acquisition expenditures. During the FY16 budget development process, departments submitted FY15 expenditure projections for their vehicle and equipment purchases. Expenditures were less than projected in FY15 due to delays in receiving vehicles and equipment that were ordered in FY15, resulting in unanticipated fund balance that can be carried forward to FY16. These funds are needed in FY16 to purchase the items when they are received.
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 attached resolution realizes FY16 unanticipated beginning fund balance within the various funds identified and increases appropriation accordingly.
Fiscal Impact:
Approval of this resolution recognizes unanticipated beginning fund balance and increases the respective cost center budgets accordingly in each fund: $161,680 in the Water Renewal and Replacement Fund; $271,310 in the Sewer Renewal & Replacement Fund; and $580,710 in the Fleet Management Fund.
Staff Member Responsible:
Jim Abernathy, Senior Financial Management & Budget Analyst, Office of Management & Budget
Partners:
N/A