Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2021 Operating Budgets Of Various Funds As Adopted And Approved By Resolution R-2020-232; Amending the Fiscal Year 2021 Capital Improvement Plan.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the Resolution.
Explanation:
This Resolution seeks authorization to amend the Fiscal Year (FY) 2021 Operating Budget adopted and approved by the City Commission pursuant to Resolution R-2020-232 on September 24, 2020.
Fiscal Impact:
Exhibit 1 includes $210,550.00 of budgetary amendments within the General Fund. The amendments consist of:
• Allocation of $130,000.00 to the continuation of the CBRE Contract
• Funding of $25,000.00 to continue the Firefighter Inspection Program and $55,550.00 for a software purchase in the Fire Department
Exhibits 2 - 5 includes amendments within the GOB Capital Projects Fund, Water & Sewer Fund, Parking Enterprise Fund and the Central Services Fund. The amendments consist primarily of:
• Rollover of $16,071,540.00 of funds available at the end of FY 2020 for previously approved GOB projects
• Recognition and allocation of $100,000.00 in interest earnings in the GOB Capital Projects Fund for costs related to the acquisition of the former Sunset Golf Course
• Reallocate $1,625,000.00 from Commingled Yard and Bulk Waste to Biosolids in the Water & Sewer Fund.
• Rollover of $170,000.00 of funds available at the end of FY 2020 for previously approved Parking Enterprise Fund projects.
• Rollover of $153,350.00 of funds available at the end of FY 2020 for previously approved IT Computer Hardware and Equipment purchases.
• Amend the Capital Improvement Program by $5,395,000.00 to include planned vehicle and equipment purchases as part of the City’s replacement program.
• Reallocate $440,780.00 from vehicle and computer equipment purchase accounts in Public Works and Information Technology to debt service accounts to provide resources for debt financing the City’s vehicle and IT equipment replacement programs.
• Reallocate $83,990.00 from a computer hardware equipment purchase account to contractual services in Information Technology for the managed services provider services.
Recommended for inclusion on the agenda by:
Laurette Jean, Director of Budget & Performance Management
Adam Reichbach, Assistant City Manager for Finance and Administration