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 Resolution Nos. 2021-254 - 2021-262 within the Enterprise Funds in the amount of $193,034,156 to adjust the fund balance and other budgeted revenues and to appropriate funds for other commitments.
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Why Action is Necessary
Supplemental budgets are required whenever existing revenue sources are increased or decreased, resulting in a change to the total appropriation of a fund.
What Action Accomplishes
The primary purpose of this supplemental budget is to recognize the difference between the preliminary fund balance and the current budgeted fund balance of each fund. This budget amendment also includes a number of proposed appropriations to address issues that have arisen since the adoption of the Fiscal Year 2021 budget.
Is this Action Goal Related
No
Previous Action Taken
None
Summary Explanation/Background
Staff presents three supplemental budgets per year to the Board. The purpose of the second supplemental budget is primarily to reconcile the fund balances. This budget amendment also includes a number of proposed appropriations which are highlighted individually below.
THE OFFICE OF MANAGEMENT AND BUDGET RECOMMENDS APPROVAL OF THE FOLLOWING SUPPLEMENTAL BUDGET ACTIONS WITHIN THE ENTERPRISE FUNDS.
FLL OPERATING FUND (40100) - $22,557,900 - Budgeted fund balance is adjusted and additional funds are appropriated to reserve ($22,336,690). In addition, a transfer from the Disaster Recovery Fund for Aviation ($221,210) is appropriated to reserve.
HWO OPERATING FUND (40200) - $183,330 - Budgeted fund balance is adjusted and additional funds are appropriated to reserve.
AVIATION REVENUE BOND FUND (40300) - $6,959,480 - Budgeted fund balance is adjusted and additional funds are appropriated to reserve.
DISASTER RECOVERY FUND FOR AVIATION (40600): - $221,210 - Budgeted fund balance is adjusted and transferred to the FLL Operating Fund is budgeted to reimburse that fund for a prior year transfer.
PORT EVERGLADES OPERATING FUND (42100) - $11,795,574 - Budgeted fund balance is adjusted ($11,773,706) and property damage reimbursement recovery revenues ($21,868) are recognized. This additional revenue is budgeted to rental equipment ($3,186) and marine equipment and supplies ($15,128) to repair the property damage and the remainder to the reserve ($11,777,260).
PORT EVERGLADES CAPITAL FUND (42250) - $45,433,342 - Budgeted fund balance is adjusted and appropriated to complete the Terminal 2 & 4 Parking Garage Deck Expansion ($5,577,262) and to the reserve for future capital ($39,856,080).
WATER AND WASTEWATER OPERATING FUND (44100) - $103,427,950 - Budgeted fund balance is adjusted and transferred to the Water and Wastewater Capital Fund to move bond proceeds received in Fiscal Year 2020 to the appropriate fund ($102,827,950) and transferred to the General Capital Outlay Fund for a capital project to repair mountain biking trails that were damaged by Water and Wastewater ($600,000).
WATER AND WASTEWATER CAPITAL FUND (44250) - $2,025,000 - A transfer from the Water and Wastewater Operating Fund ($102,827,950) attributable to a bond issuance in Fiscal Year 2020 is primarily used to reduce budgeted revenues from future bond issuances <$101,402,952>. The net increase in revenue is budgeted to the 1B2 Water Storage Tank Demolition ($525,000) and UAZ362/363 Water Services ($1,500,000) projects to fund bids that exceeded the budgeted amount.
SOLID WASTE FUND (47100) - $430,370 - Budgeted fund balance is adjusted and additional funds are appropriated to reserve.
Source of Additional Information
Norman Foster, Director, Office of Management and Budget, (954) 357-6346
Fiscal Impact
Fiscal Impact/Cost Summary
The fiscal impact is detailed above in the Summary Explanation/Background section of the agenda item.