Broward County Commission Regular Meeting
Director's Name: Norman Foster
Department: Office of Management and Budget
Information
Requested Action
title
MOTION TO ADOPT budget Resolutions within the Enterprise Funds in the amount of $3,774,671 to amend revenues and appropriations prior to the close of the Fiscal Year.
body
Why Action is Necessary
Budget amendments 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 budget amendment 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 budget amendments per year to the Board. The third budget amendment 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.
|
Fund |
Transfer to General Fund |
Adjustment to Reserves |
Grand Total |
|
40200 - HWO Operating Fund |
22,305 |
(22,305) |
- |
|
42100 - Port Everglades Operating Fund |
549,285 |
(549,285) |
- |
|
47100 - Solid Waste Operating Fund |
72,223 |
(72,223) |
- |
|
Grand Total |
643,813 |
(643,813) |
- |
The preceding table reflects funds with a budgeted adjustment to reserve to fund a transfer to the General Fund to reimburse for additional group insurance costs incurred in Fiscal Year 2024.
FLL OPERATING FUND (40100) - $0 - Reserves and existing operating allocations from capital outlay are reduced to support a transfer from FLL Operating to FLL Capital for the BSO Buildout capital project. Additionally, an adjustment to reserve is budgeted to fund a transfer to General Fund to reimburse for additional group insurance costs incurred in Fiscal Year 2024.
FLL CAPITAL FUND (40350) - $2,909,300- Funds are appropriated to the BSO Buildout capital project ($5,320,000), supported by a transfer from FLL operating ($2,909,300) and remaining funds from the FLL Capital South Runway Project ($2,410,700) which was completed in Fiscal Year 2024. Additionally, funds are reallocated from various existing projects within the fund to support Public Art Allocations.
WATER AND WASTEWATER OPERATING FUND (44100) - $865,371 - Accrued interest earnings are recognized to fund a transfer to General Fund to reimburse for additional group insurance costs incurred in Fiscal Year 2024.
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.