Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The General Fund (Fund 01) For The Fiscal Year 2014 Adopted Budget (R-2013-275), Revising Operating Revenues, Authorizing Budgetary Transfers, And Providing An Effective Date.
Body
Staff Recommends: Approval of the Attached Resolution.
Explanation:
Certain routine and periodic budgetary adjustments and transfers continue to be appropriate and necessary during the Fiscal Year.
The proposed amendments recognize and appropriate additional revenues and expenditures for the General Fund. Additionally, adjustments are being made to recognize prepaid pension payments made for FY 2014, to set aside funding to prepay pension payments for FY 2015.
Additional fund balance recognized as of September 30, 2013 results in a total Fund Balance-Unassigned of $28,285,539 which represents 17% of total expenditures.
Recommended for inclusion on the agenda by:
Cathy Swanson-Rivenbark, City Manager
Matthew Lalla, Director, Financial Services