Subject:
Title
Resolution supplementing the Fiscal Year 2020 Budget for unanticipated fund balances in the Surface Water Utility, Capital Projects, 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 unanticipated fund balance and adjusting capital project budgets in Surface Water Utility, Capital Projects, Solid Waste Renewal and Replacement, Water Renewal and Replacement, and Sewer Renewal and Replacement Funds in the Fiscal Year (FY) 2020 budget as outlined in the staff report.
• The resolution recognizes unanticipated fund balance in the FY20 Budget in various funds as follows: Surface Water Utility Fund $800,000.00; Capital Projects Fund $26,933,900.00; Solid Waste Renewal and Replacement Fund $2,811,000.00; Water Renewal and Replacement Fund $220,000.00; Sewer Renewal and Replacement Fund $3,004,000.00.
• The FY20 actual beginning fund balances have exceeded the budget in the funds identified due to changes in project scheduling not anticipated during budget development. The resolution also adjusts the FY20 Capital Budget for projects that did not progress as anticipated in FY19 and projects that progressed ahead of schedule in FY19.
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
This attached resolution recognizes unanticipated fund balance in various funds and adjusts appropriation in FY20 for multiple capital improvement projects due to FY19 actual project expenditures that varied from estimates used during development of the FY20 budget.
Body
Background Information:
The FY20 actual beginning fund balances have exceeded the budget in the Surface Water Utility, Capital Projects, Solid Waste Renewal and Replacement, Water Renewal and Replacement, and Sewer Renewal and Replacement Funds due principally to changes in project scheduling not anticipated during budget development. This resolution adjusts appropriation in the FY20 Budget for projects that did not progress as anticipated in FY19 and for projects that progressed ahead of schedule in FY19 as follows: Surface Water Utility Fund $800,000.00; Capital Projects Fund $26,933,900.00; Solid Waste Renewal and Replacement Fund $2,811,000.00; Water Renewal and Replacement Fund $220,000.00; Sewer Renewal and Replacement Fund $3,004,000.00.
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 January 28, 2020 meeting. The attached resolution recognizes FY20 unanticipated beginning fund balance within the various funds identified and increases total appropriation within each fund accordingly.
Fiscal Impact:
Approval of this resolution recognizes unanticipated beginning fund balance in the aggregate amount of $33,768,900.00 in the Surface Water Utility, Capital Projects, Solid Waste Renewal and Replacement, Water Renewal and Replacement, and Sewer Renewal and Replacement Funds and adjusts various capital project budgets accordingly.
Staff Member Responsible:
Andrew Brown, Budget and Financial Management Analyst, Office of Management and Budget
Partners:
N/A
Attachments:
Resolution
Restatement Summary FY20
Notice of Public Hearing