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. 2020-221 through 2020-227 within the Internal Service Funds in the amount of <$6,324,515> to adjust fund balances and other budgeted revenues and appropriate funds to reserves and other commitments.
body
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 adjust the budgeted fund balance in order to correspond to the audited fund balance for 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 2020 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 adjust the budgeted fund balance to correspond to the audited amounts. 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 INTERNAL SERVICE FUNDS.
RISK MANAGEMENT FUND (50015) - $148,445 - Budgeted fund balance is adjusted <$291,155> and funds are transferred from the Owner Controlled Insurance Program (OCIP) Fund (50035) to reimburse this fund for expenses paid on behalf of the OCIP Fund during Fiscal Year 2019 ($439,600). Funds from the self-insured liability reserve ($205,000) are appropriated to replace automated external defibrillators in Broward County facilities.
BSO SELF-INSURANCE FUND (50020) - <$1,081,760> - Fund balance is adjusted and the...
Click here for full text