Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2022 Operating Budgets Of Various Funds As Adopted And Approved By Resolution R-2021-244; Amending The Fiscal Year 2022 Capital Improvement Plan As Adopted And Approved By Resolution R-2021-245.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the Resolution.
Explanation:
This Resolution seeks authorization to amend the Fiscal Year (FY) 2022 Operating Budget and the FY 2022 Capital Improvement Plan adopted and approved by the City Commission on September 23, 2021, pursuant to Resolutions R-2021-244 and R-2021-245 respectively.
Fiscal Impact:
Exhibits 1-15 include budgetary amendments within the General Fund, Special Revenue Fund, Police Grants Fund, Building Fund, CDBG Fund, American Rescue Plan Act Fund, Park Impact Fee Fund, General Capital Outlay Fund, Major Equipment Replacement Fund, Water and Sewer Fund, Stormwater Fund, Sanitation Fund, Parking Fund, Internal Service Fund, and the Self Insurance Fund totaling $13,478,072. The amendments consist of:
Exhibit 1 within the General Fund:
* Transfers $500,000 in available fund balance to the Major Equipment Replacement Fund for the purchase of replacement police vehicles.
* Transfers $50,000 in available funds to cover the costs of non-pension litigation cases.
* Recognizes and allocates $4,621,265 of the recently approved bank loan proceeds to pay off the outstanding pension settlement to the General Employee Pension Board. This exhibit also allocates $397,805 to cover the August debt service payment on the loan.
Exhibit 2 recognizes $8,946 in fund balance and allocates it to the Junior Lifeguard Program within the Special Revenue Fund.
Exhibit 3 within the Police Grants Fund:
* Recognizes Justice Assistance Grant (JAG) proceeds in the amount of $43,042 and allocates it for the purchase of fixed mount Automated License Plate Reader camera system...
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