Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving The Rollover Of Capital Improvement Funds Previously Approved And Available At The End Of Fiscal Year 2013 To Fiscal Year 2014 For Capital Projects As Set Forth In Exhibits A And B; Authorizing The Establishment Of Necessary Accounts, The Transfer Of Funds And Other Necessary Account Adjustments, And Providing An Effective Date.
Body
Staff Recommends: Approval of the Attached Resolution.
Explanation:
The resolution authorizes the rollover of existing balances in various accounts related to the Capital Improvement Plan (CIP). This rollover is necessary because capital improvement projects are long term and often span multiple years.
These projects have all been previously approved by the City Commission as part of the annual adoption of the CIP or as an amendment to an approved CIP. The Department of Financial Services has confirmed that the funds detailed in the exhibits are available for the continued use of the project. A portion of fund balance has been specifically reserved for these projects, as they were encumbered during FY 2013.
Recommended for inclusion on the agenda by:
Cathy Swanson-Rivenbark, City Manager
Matthew Lalla, Director, Financial Services