Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2023 Operating Budgets Of Various Funds As Adopted And Approved By Resolution R-2022-283; Amending The Fiscal Year 2023 Capital Improvement Plan As Adopted And Approved By Resolution R-2022-284.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
This Resolution seeks authorization to amend the Fiscal Year (FY) 2023 Operating Budget and the FY 2023 Capital Improvement Plan adopted and approved by the City Commission on September 22, 2022, pursuant to Resolutions R-2022-283 and R-2022-284 respectively.
Fiscal Impact:
Exhibits 1-12 include budgetary amendments within various funds totaling $61,204,071. The amendments consist of:
Exhibit 1, within the General Fund recognizes surplus fund balance in the amount of $21,000,000 from the prior fiscal year and transfers it to the General Capital Outlay Fund and Internal Service Fund for critical capital projects.
Exhibit 2, within the Special Revenue Fund, reallocates $16,000 of available CDBG funds to the CDBG/HOME Fund.
Exhibit 3, within the Police Grant Fund, recognizes the 2021 Department of Homeland Security Grant in the amount of $333,497 and allocates the grant proceeds for cybersecurity software and eligible police equipment purchases.
Exhibit 4, within the CDBG/HOME Grant Fund:
• Recognizes HOME-ARP funds in the amount of $1,915,134 for various social service programs including homeless prevention and counseling services.
• Reallocates $508,340 to better serve the operational needs of the CDBG program.
• Recognizes the transfer for $16,000 from the Special Revenue Fund to the CDBG/HOME Fund
Exhibit 5, within the ILA Fund, reallocates $4,345,351 in alignment with the approved activities of the ILA program.
Exhibit 6, within the Park Impact Fee Fund, transfers a previously budgeted matching funds in the amount of $200,000 related to the Florida Recreation Development Assistance Program (“FRDAP”) into an appropriate account.
Exhibit 7, within the General Capital Outlay Fund:
• Recognizes a transfer from the General Fund in the amount of $16,600,000 and allocates the funds to various critical capital projects including several General Obligation Bond projects with budget shortfalls.
• Recognizes grant award in the amount of $200,000 from FRDAP and allocates the grant proceeds for improvements at Stan Goldman Park.
Exhibits 8 and 9, within Sewer and Stormwater Funds:
• Reallocates $1,296,396 for the watermain project between 21 Street and 19th Avenue on Hollywood Boulevard.
• Allocates $1,395,000 to fund various chemical contracts.
• Transfers $3,553,614 from previously approved projects into one consolidated account for citywide drainage projects.
Exhibit 10, within the Golf Enterprise Fund, allocates $120,000 for emergency water usage at City-owned golf courses.
Exhibit 11, within the Parking Fund:
• Allocates $5,000,000 for the public parking component of the University Station project.
• Reallocates $150,000 from Parking contingencies for the purchase replacement vehicles.
Exhibit 12, within the Central Services Fund:
• Recognizes a reimbursement from Broward County in the amount of $154,739 for the purchase of fire technology equipment per the Closest Unit Response Inter-Local Agreement.
• Recognizes a transfer from the General Fund in the amount of $4,400,000 for the purchase of general fleet and police fleet vehicles and heavy equipment.
Recommended for inclusion on the agenda by:
Laurette Jean, Director of Budget & Performance Management
Adam Reichbach, Assistant City Manager for Finance and Administration