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 1-4 include budgetary amendments within the General Fund, American Rescue Plan Act Fund, General Capital Fund, and Central Services Fund totaling $1,037,000. The amendments consist of:
Exhibit 1, within the General Fund:
* Reverses $1.7 million in revenues recognized earlier this year for the sale of a property which will be recognized in the General Capital Outlay Fund.
* Reallocates $52,500 within the Police Department for accreditation services.
* Transfers $680,000 from the General Fund to the General Capital Outlay Fund for a critical HVAC system project in Fire Station 45.
Exhibit 2, within the American Rescue Plan Act Fund:
* Reallocates $200,000 of available funding for the purchase of two high-water fire vehicles to be used following weather events and the remaining balance for building maintenance of various fire stations.
Exhibit 3, within the General Capital Outlay Fund:
* Recognizes the $1.7 million in proceeds from the sale of a property in the appropriate revenue fund.
* Allocates funding for the purchase of buoys and signage related to the establishment of anchoring limitation areas in North and South Lakes.
* Recognizes a transfer in the amount of $680,000 from the General Fund and allocates the funds for a replacement HVAC syst...
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