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.
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 adopted and approved by the City Commission pursuant to Resolution R-2020-232 on September 24, 2020.
Fiscal Impact:
Exhibit 1 includes $12.1 million of budgetary amendments within the Special Revenue Fund. The amendments consist of:
• Rollover of $1,331,776 funds available at the end of FY 2020 for ongoing Community Development programs.
• Rollover and allocation of FY 2020 Broward County ILA funds in the amount of $4,032,122 for affordable housing activities
• Recognition and allocation of FY 2021 ILA funding in the amount of $4,115,684 for affordable housing activities.
• Recognition and allocation of $2,500,000 in Coronavirus Relief Funds from the State of Florida for Re-Housing, Eviction Prevention, Foreclosure and Utility Assistance.
• Recognition and allocation of $150,271 in CARES Stimulus funds to the Department of Fire-Rescue & Beach Safety for the purchase of goods and services related to COVID-19.
Exhibit 2 includes $130,861 of budgetary amendments in the Police Grants Fund. The amendments consist of:
• Recognition and allocation of $50,000 in BBIP Grant proceeds for the removal of derelict vessels
• Recognition and allocation of $43,042 in JAG 18 proceeds and $37,819 in JAG 19 proceeds for the purchase of fixed mount ALPR camera systems and equipment
Exhibits 3 - 6 includes amendments within the Water & Sewer Fund, Stormwater Fund, Parking Enterprise Fund and the Central Services Fund. The amendments consist of:
• Rollover of $6,386,811 and true-up of funds available at the end of FY 2020 for previously approved capital projects, reallocation of $2,921,428 within authorized capital projects to address current capital needs and reallocation of $437,439 to better serve operational needs within the Water & Sewer Fund.
• Rollover of $1,013,834 and true-up of funds available at the end of FY 2020 for previously approved capital projects in the Stormwater Fund
• Recognition and allocation of $11,737 in anticipated revenue in the Parking Fund for additional Property Tax expenses.
• Recognition and allocation of $14,535 from the sale of Beach Safety lease vehicles to the purchase of vehicle replacements within the Department of Fire-Rescue & Beach Safety.
Recommended for inclusion on the agenda by:
Laurette Jean, Director of Budget & Performance Management
Adam Reichbach, Assistant City Manager for Finance and Administration