Broward County Commission Regular Meeting
Director's Name: Norman Foster
Department: Office of Management and Budget
Information
Requested Action
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MOTION TO ADOPT supplemental budget Resolution Nos. 2020-463 through 2020-466 within the Enterprise Funds in the amount of <$2,622,776> to amend revenues and appropriations prior to the close of the Fiscal Year.
(Item Numbers 33, 34, 35, 36, 37, 38 and 39 were taken up and voted on together.)
ACTION: (T-3:39 PM) Approved. (Scrivener’s Error - See County Administrator’s Report: Missing the A. and B. in front of the Motions.) (Refer to minutes for full discussion.)
VOTE: 9-0. Commissioner Rich and Vice-Mayor Geller voted in the affirmative telephonically.
MOTION TO ADOPT supplemental budget Resolution No. 2020-467 transferring funds within the Passenger Facility Charge (PFC) Capital Fund in the amount of $4,926,606 due to reduction in the transfer amount to debt service and allocation to reserves.
(Item Numbers 33, 34, 35, 36, 37, 38 and 39 were taken up and voted on together.)
ACTION: (T-3:39 PM) Approved. (Scrivener’s Error - See County Administrator’s Report: Missing the A. and B. in front of the Motions.) (Refer to minutes for full discussion.)
VOTE: 9-0. Commissioner Rich and Vice-Mayor Geller voted in the affirmative telephonically.
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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.
Is this Action Goal Related
No
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.
FLL OPERATING FUND (40100) - $5,409,548 - The Building Code Services Fund is transferring a ($5,409,548) rebate to the Aviation Operating Fund for compliance with HB 447; an additional <$12,890,223> is transferred from reserves, for a total of ($18,299,771) appropriated to increase the Fiscal Year 2020 transfer to debt service to cover additional costs related to issuance and refinance of 2019 bond series.
AVIATION REVENUE BOND FUND (40300) - $13,373,165 - The transfer from the FLL Operating Fund is increased by ($18,299,771) and the transfer from the PFC Capital Fund is reduced by <$4,926,606>, which appropriates ($13,373,165) to cover additional costs related to the issuance and refinance of 2019 bond series.
PASSENGER FACILITY CHARGE (PFC) CAPITAL FUND (40450) - $4,926,606 - A reduction in the transfer amount to the debt service fund due to savings associated with the refinance of 2019 bond series in the amount of ($4,926,600) is transferred into reserves.
PORT EVERGLADES OPERATING FUND (42100) - <$22,010,489> - Budgeted revenues are adjusted to reflect the impacts of suspended cruise operations during the Fiscal Year. Corresponding expense reductions are made to Broward Sheriff’s Office (BSO) and other security details associated with cruise activity at the Port; general spending reductions in Port operating budget; as well as a reduction to the emergency reserve. The budgeted revenue amount is merely a projection based upon current circumstances but in no way is intended to modify or amend the contractual obligations of any or all of the cruise lines.
SOLID WASTE FUND (47100) - $605,000 - Budgeted tipping fee revenue is increased and appropriations adjusted accordingly due to increased trash collection costs ($605,000). The reserve for landfill closure is reduced <$1,000,214> to reimburse Solid Waste capital funds utilized for landfill closure costs at the Ash Monofill ($1,000,214). Additionally, the reserve for solid waste programs is reduced <$140,000> to reimburse Solid Waste capital funds utilized for higher than projected motor pool costs ($59,000) and for cost increases for various vehicles scheduled for replacement ($81,000).
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.