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File #: R-2021-289    Version: 1 Name: FY 21 Year-End Close
Type: Resolution Status: Passed
File created: 9/16/2021 In control: Office of Budget & Performance Management
On agenda: 11/17/2021 Final action: 11/17/2021
Title: A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2021 Adopted Budget, Authorizing Year-End Budgetary Transfers And Adjustments For Fiscal Year 2021.
Attachments: 1. Resolution Yearend Close-Out - final.pdf, 2. Exhibits 1 - 13R.pdf

Title

A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2021 Adopted Budget, Authorizing Year-End Budgetary Transfers And Adjustments For Fiscal Year 2021.

 

 

Strategic Plan Focus

Financial Management & Administration

 

 

Body

 

Staff Recommends: Approval of the Resolution.

 

Explanation:

This Resolution authorizes Fiscal Year (FY) 2021 year-end budgetary transfers and adjustments within the various Department and Office operating budgets.

 

As detailed in the attached exhibits to the Resolution, certain identified accounts may have exceeded budget appropriations during operations of the Office or Department during FY 2021. As a result, budget transfers and adjustments are necessary to offset and balance the identified budget variances. Additionally, this budget amendment modifies the previously approved budget allocations of certain American Rescue Plan Act (ARPA) funded projects into a single fund as recommended by the City’s external auditors. This action does not result in any changes in project funding allocations.

 

Florida State Statutes provide the legal authority to make these necessary budgetary transfers and adjustments within a sixty (60) day period following the close of the fiscal year.

 

Fiscal Impact:

The budgetary transfers and adjustments detailed in the attached exhibits will not negatively impact the financial standing of the City at fiscal year-end 2021 as these are re-appropriations of unspent balances within each respective fund and department. 

 

Recommended for inclusion on the agenda by:

Laurette Jean, Director of Budget & Performance Management

Adam Reichbach, Assistant City Manager for Finance and Administration