Broward County Commission Regular Meeting
Director's Name: Norman Foster
Department: Office of Management and Budget
Information
Requested Action
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A. MOTION TO ADOPT supplemental budget Resolution within the Debt Service Funds in the amount of $4,835,751, primarily to adjust fund balances and to appropriate funds to reserves.
ACTION: (T-12:23 PM) Approved Resolution Nos. 2024-237 through 2024-243. (Refer to minutes for full discussion.)
VOTE: 6-0. Commissioners Bogen, McKinzie and Ryan were not present during the vote.
B. MOTION TO ADOPT supplemental budget Resolution within the Internal Service Funds in the amount of $824,015, primarily to adjust fund balances and other budgeted revenues and to appropriate funds to reserves and other commitments.
ACTION: (T-12:23 PM) Approved Resolution Nos. 2024-244 through 2024-250. (Refer to minutes for full discussion.)
VOTE: 6-0. Commissioners Bogen, McKinzie and Ryan were not present during the vote.
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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 2024 budget.
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 purpose of the second supplemental budget is primarily to reconcile the fund balances. In general, additional fund balance is appropriated to the reserve or debt service/other commitments.
THE OFFICE OF MANAGEMENT AND BUDGET RECOMMENDS APPROVAL OF THE FOLLOWING SUPPLEMENTAL BUDGET ACTIONS WITHIN THE DEBT SERVICE AND INTERNAL SERVICE FUNDS.
Debt Service
2007A GENERAL OBLIGATION BONDS (21010) - $10,346 - Payments on this issuance were completed during Fiscal Year 2021. Fund balance is adjusted and a transfer to the General Capital Fund is budgeted to cover one-time capital expenditures.
PARKS/LAND PRESERVATION GENERAL OBLIGATION BONDS (21015) - $946,302 - Budgeted fund balance is adjusted, and reserves are increased accordingly.
2006B & 2016 CIVIC ARENA REFUNDING BONDS (22010) - $3,693,678 - Budgeted fund balance and the transfer from the Two Cent Tourist Tax Revenue Fund are adjusted, and reserves are increased accordingly.
2010 & 2017A COURTHOUSE BONDS (22015) - <$319,882> - Budgeted fund balance is adjusted <$1,010,071>, a transfer from the Courthouse Bond Capital Fund is increased ($690,189), and reserves are decreased accordingly.
2021 TOURIST DEVELOPMENT TAX REVENUE BONDS (22025) - $39,207 - Budgeted fund balance is adjusted, and reserves are increased accordingly.
2022 CONVENTION CENTER HOTEL REVENUE BONDS (22030) - $461,366 - Budgeted fund balance is adjusted, and reserves are increased accordingly.
2018 REFUNDING NOTE (23020) - $4,734 - Budgeted fund balance is adjusted, and reserves are increased accordingly.
Internal Service
RISK MANAGEMENT FUND (50015) - <$889,150> - Budgeted fund balance is adjusted, reserves are decreased accordingly <$1,017,150>, and funds are appropriated to support increased Safety Compliance training ($128,000).
BSO SELF-INSURANCE FUND (50020) - <$810,000> - Budgeted fund balance and reserves are reduced.
EMPLOYEE BENEFITS FUND (50025) - $109,000 - Budgeted fund balance is adjusted, and funds are appropriated for the County’s Self-Insured Group Health program.
BSO WORKERS’ COMPENSATION FUND (50030) - <$124,000> - Budgeted fund balance and reserves are reduced.
OWNER CONTROLLED INSURANCE PROGRAM FUND (50035) - $607,000 - Budgeted fund balance is adjusted, and reserves are increased accordingly.
FLEET SERVICES FUND (50100) - $1,921,165 - Budgeted fund balance is adjusted, and reserves are reduced accordingly <$178,835>. In addition, anticipated revenues for motor pool are increased and appropriations for fuel ($1,010,000), repairs and maintenance ($1,030,000), equipment ($20,000), and motor pool ($40,000) are increased accordingly.
PRINT SHOP FUND (50200) - $10,000 - Budgeted fund balance is adjusted, and appropriated to reserves for replacement equipment.
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.