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.
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