AGENDA ITEM REPORT
TITLE:
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AN ORDINANCE ADOPTING THE FISCAL YEAR 2018 OPERATING AND CAPITAL IMPROVEMENT BUDGET AS THE CITY’S OFFICIAL BUDGET. THIS ORDINANCE WILL APPROPRIATE FUNDS FOR OPERATING CITY DEPARTMENTS AND CAPITAL PROJECTS FROM OCTOBER 1, 2017, TO SEPTEMBER 30, 2018. (SECOND PUBLIC HEARING)
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BACKGROUND:
This item was approved on First Reading at the September 13, 2017, City Commission Meeting.
On July 27, 2017, the Proposed Fiscal Year 2018 (FY18) Budget and Capital Improvement Program document was submitted to the City Commission. The City Manager and Director of Finance and Administrative Services presented the Proposed FY18 Budget to the City Commission at the Budget Workshop held on August 2, 2017.
DISCUSSION:
First Reading of this Ordinance tentatively adopts the Proposed FY18 Operating and Capital Improvement Budget as the City’s official budget, including the following amendments made by the City Commission during the Budget Workshop held on August 2, 2017.
Increase Decrease
General Fund (01)
Expenditures
Code Enforcement $ 42,270
Police $ 490
Public Works - Fleet Services $ 7,600
Contingency $ 34,180
Capital Improvement Program Fund (39)
Expenditures
Recreation Complex Splash Pad $ 300,000
Sabal Pines Restrooms 2nd Floor $ 250,000
Resources Available $ 50,000
Federal Law Enforcement Trust Fund (62)
Revenues
Prior Year Surplus $ 44,810
Expenditures
Police $ 44,810
Water/Sewer Capital Improvement Fund (42)
Expenditures
Vinkemulder Road Utilities Installation $ 160,000
Resources Available $ 160,000
In addition, the Broward County School Board recently approved the City’s request for funding an SRO at the Dave Thomas Education Center. The following amendment will add the applicable revenues and expenditures to the FY18 Budget.
General Fund (01) Increase Decrease
Revenues
SRO Subsidy $ 46,250
Expenditures
Police $ 73,870
Contingency $ 27,620
Federal Law Enforcement Trust Fund (62)
Revenues
Prior Year Surplus $ 51,460
Expenditures
Police $ 51,460
It will also:
1. Allow the City to continue the General Trust Fund and automatically amend the budget for financial reporting purposes;
2. Allow the City to continue the Grants Fund and automatically amend the budget for financial reporting purposes;
3. Allow the City to continue the Local and Federal Law Enforcement Trust Funds and automatically amend the budget for financial reporting purposes; and
4. Provide authority to re-appropriate any unspent funds budgeted for the Economic Development Program.
RECOMMENDATION:
Staff recommends approval of this Ordinance.
FISCAL IMPACT: N/A