Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2021 Operating Budgets Of Various Funds As Adopted And Approved By Resolution R-2020-232; Amending The Fiscal Year 2021 Capital Improvement Plan As Adopted And Approved By Resolution R-2020-233.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the Resolution.
Explanation:
This Resolution seeks authorization to amend the Fiscal Year (FY) 2021 Operating Budget and the FY 2021 Capital Improvement Plan adopted and approved by the City Commission on September 24, 2020, pursuant to Resolutions R-2020-232 and R-2020-233 respectively.
Fiscal Impact:
Exhibits 1, 2, 3 and 4 include $645,366 of budgetary amendments within the General Fund, Special Revenue Fund and Building Fund. The amendments primarily consist of:
• Transfer of $50,000 from the General Fund to the Major Capital Equipment Replacement Fund for equipment replacement for the ongoing replacement and purchase of expired and new hire Fire Bunker Gear and $43,750 for the remaining cost of phase 1 of the vulnerability assessment.
• Recognition of $19,375 in fire training revenues and allocation to cover operational expenses at the Fire Training Center.
• Recognition of $7,289 from the auction of City surplus vehicles and equipment. Proceeds from the sale of these items is allocated for future purchase of replacement equipment.
• Recognition of a donation of $2,933 to be used at the Kay Gaither Community Center.
• Recognition and allocation of excess fund balance within the Building Fund in the amount of $472,020 to cover operational needs of the division.
Exhibits 5-6 includes $10,134,710 of budgetary amendments within the Water and Sewer Fund and Stormwater Fund. The amendments primarily consist of:
• Adjustments within the Water and Sewer Fund in the amount of $6,950,000 to allocate net assets to current capital projects such as AMI Construction.
• Allocation of Emergency Contingency funds of $2,000,000 to address contingency projects in the Wastewater Treatment Plant and the Water Treatment Plant
• Reallocation of available funds in the amount of $1,184,710 within the Stormwater Fund for the drainage improvements.
Exhibits 7, 8 and 9 include $1,958,251 of budgetary amendments within the Gas Tax Fund, Parking Enterprise Fund and Central Services Fund. The amendments primarily consist of:
• Adjustments of $190,000 within the Gas Tax Fund to allocate fund balance to FEC railroad rehabilitation.
• Recognition of $85,000 in additional parking meter revenues and allocation to cover contractual service expenses in the Parking Enterprise Fund.
• Transfer of $61,259 from a closed capital project account to the Garfield Garage for the purchase of security camera equipment within the Parking Enterprise Fund.
• Transfer of $250,000 within the Central Services Fund to cover the cost of laptops and other technology equipment.
• Recognition of $21,973 from the auction of City surplus vehicles and equipment. Proceeds from the sale of these items is allocated for future purchase of replacement equipment.
• An administrative clean-up in the amount of $1.1 million within the Central Services Fund based on a reconciliation of the fleet accounts.
• Recognition of $187,636 from the auction of police vehicles. Proceeds from the sale is allocated for future purchase of police vehicles.
Recommended for inclusion on the agenda by:
Laurette Jean, Director of Budget & Performance Management
Adam Reichbach, Assistant City Manager for Finance and Administration