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 adjusted to reflect anticipated funding sources for those projects supported by grants and bond revenues.
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.