Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The General Fund (Fund 01) For The Fiscal Year 2015 Adopted Budget (R-2014-282), 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 amendment recognizes and appropriates additional revenues and expenditures for the General Fund. Adjustments are being made to recognize additional audited fund balance as of September 30, 2014 and allocate those funds. The funds are being allocated to address the increase in the 17% Reserve, to set aside funding to prepay pension payments for FY 2016 and fund FY 2015 operational and capital items.
This item addresses the following operational and capital items:
· Transfer of debt service savings related to vehicle purchases
· Operational needs in Department of Fire Rescue and Beach Safety
· Operational needs in Department of Parks and Recreation
· Transfer of funds needed for Capital Projects
· Funding related to ERP Consultants
Also, additional Building Permit revenues are being recognized and allocated to equipment purchases in the Building Department.
Recommended for inclusion on the agenda by:
Wazir Ishmael, Ph.D., City Manager
George R. Keller, Jr., Assistant City Manager for Finance and Administration
Matthew Lalla, Director, Financial Services