Report Subject:
Title
Resolution supplementing the Fiscal Year 2023 Operating Budget for unanticipated revenue for General and STAR Center Funds. Realign appropriation from various reserves for unanticipated expenditures in the General, Palm Harbor Community Service District, East Lake Library Service District, East Lake Recreation Service District, and Street Lighting District Funds.
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Recommended Action:
Recommended Action
Conduct a public hearing and adopt the attached resolution recognizing and appropriating unanticipated revenue and realignment of funds in the Fiscal Year (FY) 2023 budget as follows:
• The following budget amendments relate only to the prior-year budget FY23 to close out the fiscal year.
• Recognize $900,000.00 in revenue replacement in the General Fund and appropriate $900,000.00 to Reserves. This recognizes the revenue associated with a prior-budget amendment (23-0285A).
• Recognize $400,000.00 in unanticipated revenue in the STAR Center Fund and appropriate $400,000.00 to Reserves for future Employment Sites Program expenses. This recognizes the revenue associated with a prior-budget amendment (23-0814A).
• Recognize $70,000.00 in unanticipated revenue in the Street Lighting District Fund and appropriate $70,000.00 to utility expenses.
• Realign $2,458,800.00 from the General Fund Reserves and appropriate $17,200.00 for retirement benefits, $70,000.00 for transfer to Street Lighting District for utilities costs, and the remaining $2,371,600.00 for Hurricane Ian Reimbursement to the Pinellas County Public School Board.
• Realign $980.00 from the Palm Harbor Community Services District Fund Reserves and Appropriate to interest expenses.
• Realign $420.00 from the East Lake Library Services District Fund Reserves and appropriate to interest expenses.
• Realign $420.00 from the East Lake Recreation Services District Fund Reserves and appropriate to interest expenses.
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Strategic Plan:
Foster Continual Economic Growth and Vitality
4.2 Invest in Communities that Need the Most
4.6 Support a Vibrant Community with Recreation, Arts, and Culture to Attract Residents, and Visitors
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 General Fund will receive $900,000.00 in revenue replacement and will appropriate $900,000.00 to Reserves. $900,000.00 was transferred to the General Fund from the American Rescue Plan Act (ARPA) Fund for Personnel Services expenditures in Safety and Emergency Services (SES) in the approved BA-23-01 (23-0285A). This approved amendment did not recognize revenue, so this request is a correction to balance the transfer accounts and funds.
The STAR Center Fund will receive $400,000.00 in unanticipated revenue and will appropriate $400,000.00 to Reserves. $400,000.00 was transferred to the STAR Center Fund from the General Fund for future ESP expenses in the approved BA-23-02 (23-0814A). This approved amendment did not recognize revenue, so this request is a correction to balance the transfer accounts and funds.
The Street Lighting District Fund will receive $70,000.00 in unanticipated revenue from the General Fund and will appropriate $70,000.00 to utility expenses for higher than anticipated expenses.
The realignment of $2,458,800.00 from the General Fund Reserves will appropriate $17,200.00 to Operating Expenses to fund higher than budgeted pension costs for the Board of County Commissioners (BCC), $70,000.00 to transfer for the street lighting district due to higher than anticipated expenses, and the remaining $2,371,600.00 for reimbursements to PCSB for Hurricane Ian related expenses (per interlocal agreement attached).
The realignment of $980.00 from the Palm Harbor Community Services District Fund Reserves will be appropriated to Operating Expenses to fund higher than budgeted costs for interest charges.
The realignment of $420.00 from the East Lake Library Services District Fund Reserves will be appropriated to Operating Expenses to fund higher than budgeted costs for interest charges.
The realignment of $420.00 from the East Lake Recreation Services District Fund Reserves will be appropriated to Operating Expenses to fund higher than budgeted costs for interest charges.
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Background Information:
The General Fund will receive $900,000.00 in revenue replacement and will appropriate $900,000.00 to Reserves. $900,000.00 was transferred to the General Fund from the American Rescue Plan Act (ARPA) Fund for Personnel Services expenditures in Safety and Emergency Services (SES) in the approved BA-23-01 (23-0285A). This approved amendment did not recognize revenue, so this request is a correction to balance the transfer accounts and funds.
The STAR Center Fund will receive $400,000.00 in unanticipated revenue and will appropriate $400,000.00 to Reserves. $400,000.00 was transferred to the STAR Center Fund from the General Fund for future ESP expenses in the approved BA-23-02 (23-0814A). This approved amendment did not recognize revenue, so this request is a correction to balance the transfer accounts and funds. In FY16, the sale of surplus lands in the amount of $802.0K were deposited into General Fund Reserves and per Board Resolution 15-117, the proceeds were intended for ESP once established. $402,000.00 was transferred to Economic Development’s General Fund in BA-23-02 and the remaining $400,000.00 will now be recognized as revenue and the STAR Center Fund will be balanced.
The Street Lighting District Fund will receive $70,000.00 in unanticipated revenue from the General Fund and will appropriate $70,000.00 to utility expenses for higher than anticipated expenses. The Street Lighting District Fund does not have sufficient reserves to cover the unanticipated expenses and will require funding transferred from the General Fund to meet obligations.
The realignment of $2,458,800.00 from the General Fund Reserves will appropriate $17,200.00 to Operating Expenses to fund part of an unanticipated $53,100.00 pension expense that could not be absorbed by the shared budget of the BCC. $70,000.00 will be appropriated to a transfer to the Street Lighting District Fund due to higher than anticipated expenses. Furthermore, the remaining $2,371,600.00 will be realigned to Operating Expenses for Emergency Events for reimbursements to the PCSB for Hurricane Ian related expenses. The County currently has an interlocal agreement (attached) that requires the reimbursement of associated costs of using PCSB schools and personnel for shelter operations.
The realignment of $980.00 from the Palm Harbor Community Services District Fund Reserves will be appropriated to Operating Expenses to fund higher than budgeted costs for interest charges.
The realignment of $420.00 from the East Lake Library Services District Fund Reserves will be appropriated to Operating Expenses to fund higher than budgeted costs for interest charges.
The realignment of $420.00 from the East Lake Recreation Services District Fund Reserves will be appropriated to Operating Expenses to fund higher than budgeted costs for interest charges.
Fiscal Impact:
Approval of this resolution recognizes revenue replacement in the amount of $900,000.00 for the General Fund, unanticipated revenue in the amount of $400,000.00 for the STAR Center Fund, and unanticipated revenue in the Street Lighting District Fund. It also appropriates $900,000.00 to General Fund Reserves, $400,000.00 to STAR Center Fund Reserves, and $70,000.00 to utility expenses.
Approval realigns $2,458,800.00 from General Fund Reserves and appropriates it to pension related expenses ($17,200.00), Street Lighting District Transfer ($70,000.00), and a reimbursement to PCSB for Hurricane Ian related expenses ($2,371,600.00). It also realigns $980.00 from Palm Harbor Community Services District Fund, $420.00 from East Lake Library Services District, and $420.00 from East Lake Recreation Services District Reserves and appropriates it to interest related expenses in the respective funds.
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:
Resolution 23-XX
Notice of Public Hearing