Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Tentatively Making Appropriations For The Fiscal Year 2018 Based On The Operating And Capital Budget Estimate Of Revenues And Expenditures For Each Of The City’s Operating Funds As Submitted By The City Manager.
Body
Staff Recommends: Approval of the attached resolution.
Explanation:
The Fiscal Year 2018 Operating Budget estimate of ad valorem tax revenues and other sources of revenues and the requirement for expenditures and other uses of all City operating funds by Departments, Divisions, and Offices is prepared and submitted to the City Commission by the City Manager as required by Section 6.04, subsection (6) of the City Charter.
The Citywide Operating Budget, which total $538,525,739 net of interfund transfers for all operating funds for Fiscal Year 2018, is balanced. Included in this citywide figure is the General Fund Operating Budget of $257,506,148. The General Fund operating millage rate of 7.4479 mills remains the same as the previous fiscal year’s operating millage.
This budget includes fund balances and net assets in the various funds, as detailed in the attached exhibits, in order to comply with the operational audit of the State Auditor General.
The Budget Hearing, which is the first of two, will allow the City Commission and staff to further evaluate and set forth recommendations for the Fiscal Year 2018 Operating Budget for adoption at the second budget hearing, to be held on September 27, 2017.
Recommended for inclusion on the agenda by:
Wazir Ishmael Ph.D., City Manager
George R. Keller Jr., Assistant City Manager, Finance and Administration,
Interim Financial Services Director