Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2025 Operating Budgets Of Various Funds As Adopted And Approved By Resolution R-2024-317; Amending The Fiscal Year 2025 Capital Improvement Plan As Adopted And Approved By Resolution R-2024-318.
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) 2025 Operating Budget and the FY 2025 Capital Improvement Plan adopted and approved by the City Commission on September 18, 2024, pursuant to Resolutions R-2024-317 and R-2023-318 respectively.
Fiscal Impact:
Exhibits 1 - 9 include budgetary and capital amendments within various funds totaling $24,017,120. The amendments consist of:
Exhibit 1, within the General Fund:
* Recognizes $13,215,696 of surplus fund balance and the PFAS litigation settlement of $2,539,535 and transfers it to the General Capital Fund for various capital expenditures.
Exhibit 2, within the Building Fund recognizes $1,800,350 in surplus fund balance and allocates:
* $450,350 for continued implementation of the Accela program.
* $300,000 for Chiller replacement at the 2nd Floor of the Library.
* $800,000 for generator installation at the 2nd Floor of the Library.
* $250,000 for elevator improvements at the 2nd Floor of the Library.
Exhibit 3, within the CDBG & HOME Fund:
* Recognizes $108,478 in CDBG program income and interest earned in FY 2025 and allocates it to eligible program expenditures.
* Recognizes $593,463 in HOME program income and interest earned in FY 2025 and allocates it to eligible program expenditures.
Exhibit 4, within the Park Impact Fee Fund:
* Recognizes $500,000 of park impact fees collected in prior years and allocates funding for the New Restrooms project at Poinciana Park.
Exhibit 5, within Multi-Modal Impact Fee Fund:
* Recognizes $450,000 of park impact fees coll...
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