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 within the Enterprise Funds in the amount of $212,397,255 to adjust the fund balance and other budgeted revenues and to appropriate funds to reserves and other commitments.
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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 2022 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 reconcile the fund balances. 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 ENTERPRISE FUNDS.
FLL OPERATING FUND (40100) - $95,931,160 - Budgeted fund balance is adjusted and a transfer from the Aviation Hurricane fund is budgeted. In addition, south runway maintenance is budgeted ($200,000), $500,000 is budgeted to account for increased ramp traffic, $1,200,000 is budgeted for associated shuttle increases needed due to accommodate increased passenger traffic, and the remainder is appropriated to reserves.
HWO OPERATING FUND (40200) - <$49,700> - Budgeted fund balance is adjusted and <$124,100> is transferred from reserves to budget transfers to the Aviation Passenger Facility Charges capital fund for security enhancements and to the Aviation HWO capital fund for the Air Tower Control replacement project.
AVIATION REVENUE BOND FUND (40300) - $18,501,260 - Budgeted fund balance is adjusted and additional funds are appropriated to reserve.
FLL CAPITAL FUND (40350): - $0 - Funds are transferred from the land improvement account to a transfer to HWO capital fund account for the demolition of the border patrol building.
PFC CAPITAL FUND (40450): - $0 - Funds are transferred from reserves to a transfer to HWO capital fund account as a cash match for the HWO airfield lighting improvements project ($66,000). Additionally, $12,910,000 is transferred to the exit roadway and valet routing capital improvement project for board approval to increase this project budget by more than five percent of the existing project budget.
HWO CAPITAL FUND (40550): - $200,000 - A transfer from FLL capital is budgeted for the demolition of the border patrol building ($100,000). A transfer from HWO operating fund and state grant funding is budgeted as part of additional grant funding and cash match for the air traffic control tower replacement project ($100,000).
DISASTER RECOVERY FUND FOR AVIATION (40600): - $335,700 - Budgeted fund balance is adjusted and a transfer to the FLL operating fund is budgeted to reconcile this fund.
PORT EVERGLADES OPERATING FUND (42100) - $20,222,648 - Budgeted fund balance is adjusted ($20,213,548) and property damage reimbursement recovery revenues ($9,100) are recognized. Appropriations are budgeted for rental payments ($103,760), damage repair costs ($9,100), fender replacement ($1,500,000) and the remainder to reserves ($18,609,788).
PORT EVERGLADES CAPITAL FUND (42250) - $75,022,562 - Budgeted fund balance is adjusted and appropriated to complete the Phase 9A Container Yard project ($1,902,263), for vehicle and equipment replacement ($2,049,702) and to the reserve for future capital ($71,070,597).
WATER AND WASTEWATER OPERATING FUND (44100) - $1,710,460 - Budgeted Fund balance is adjusted and additional funds are appropriated for vehicle and equipment replacements ($1,231,820), IT Hardware ($228,000), facility repairs and upgrades ($182,790), and Maximo improvements ($67,850).
WATER AND WASTEWATER CAPITAL FUND (44250) - $0 - Budgeted Fund balance is adjusted ($4,964,795) and other bond proceeds revenues are modified accordingly.
SOLID WASTE FUND (47100) - $523,165 - Budgeted fund balance is adjusted and additional funds are appropriated to reserve.
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.