Broward County Commission Regular Meeting
Director's Name: Norman Foster
Department: Office of Management and Budget
Information
Requested Action
title
MOTION TO ADOPT supplemental budget Resolutions within the Enterprise Funds in the amount of $106,188,919 to amend revenues and appropriations prior to the close of the Fiscal Year.
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Why Action is Necessary
Supplemental budgets are required whenever existing revenue sources are increased or decreased, resulting in a change in the total appropriations of a fund.
What Action Accomplishes
The primary purpose of this supplemental budget is to make year-end adjustments to facilitate the year-end closing process.
Goal Related Icon(s)
?County Commission
?Go Green
?MAP Broward
Previous Action Taken
None
Summary Explanation/Background
Staff presents three supplemental budgets per year to the Board. The third supplemental budget is for the purpose of making year-end adjustments to various revenues and appropriations.
THE OFFICE OF MANAGEMENT AND BUDGET RECOMMENDS APPROVAL OF THE FOLLOWING YEAR-END ACTIONS WITHIN THE ENTERPRISE FUNDS.
AVIATION BOND FUND (40300) - $51,094,470 - Funds are transferred from PFC Capital and appropriated for future debt service reserve requirements.
FLL CAPITAL FUND (40350) - $79,894,489 - A transfer from the Transportation Surtax Fund is recognized and appropriated to the Automated People Mover (APM) Circulator project, representing a 50% match per the grant requirement.
PFC CAPITAL FUND (40450) - <$24,800,040> - Previously appropriated PFC revenue and expenses for the Automated People Mover (APM) Circulator project are reduced <$69,894,510>. PFC revenue is recognized ($51,094,470), and funds are transferred to the Debt Service Fund ($51,094,470). Additionally, the appropriation and revenue for capital project, Emergency Communication Improvements, are reduced <$6,000,000> as a financial clean-up activity.
PORT EVERGLADES CAPITAL FUND (42250) - $0 - Revenues are adjus...
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