Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2024 Operating Budgets Of Various Funds As Adopted And Approved By Resolution R-2023-300; Amending The Fiscal Year 2024 Capital Improvement Plan As Adopted And Approved By Resolution R-2023-301.
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) 2024 Operating Budget and the FY 2024 Capital Improvement Plan adopted and approved by the City Commission on September 20, 2023, pursuant to Resolutions R-2023-300 and R-2023-301 respectively.
Fiscal Impact:
Exhibits 1 - 5 include budgetary and capital amendments within various funds totaling $5,049,730. The amendments consist of:
Exhibit 1, within the Special Revenue Fund:
Recognizes $455,659 in proceeds from the USDA Forest Service subgrant pass-through agreement and allocates it for the planting of approximately 478 trees in identified Low-to-Moderate Income (LMI) areas.
Exhibit 2, within the Building Fund:
Recognizes $2,315,077 in Building fund balance and allocates the funds for the continued implementation of the Accela permitting software.
Exhibit 3, within the American Rescue Plan Act (ARPA) Fund:
• Trues up $539,002 in previously budgeted ARPA funding to correctly align that budget with the available funding.
• Reallocates $463,003 in available ARPA funding as follows:
o $107,380 to align the budget with actual spending across several projects
o $309,930 for roadway, alley, and street repair city-wide.
Exhibit 4, within the County Surtax Transportation Fund recognizes and allocates $1,161,988 from Broward County Transit (BCT) to establish the Community Shuttle Program ("CSP").
Exhibit 5, within the Sanitation Enterprise Fund recognizes $115,000.00 in available fund balance and allocates it to cover costs from the higher than anticipated recycling contract.
Recommended for inclusion on the agenda by:
Jonathan Antista, Director of Budget & Performance Management
Adam Reichbach, Assistant City Manager for Finance and Administration