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 $400,000 of budgetary amendments within the General Fund. The amendments consist of:
• Allocation of $150,000 to fund the Marina Master Plan; and
• Recognition of $250,000 in anticipated revenues from the revised Vacation Rental program which will be allocated to contractual services for Vacation Rental property inspections.
Exhibits 2 - 6 includes amendments within the Special Revenue Fund, Police Grants Fund, General Capital Outlay Fund, Gas Tax Fund and the Parking Enterprise Fund. The amendments consist of:
• Recognition and allocation of $228,000 in Elderly Grant proceeds to activities within the Department of Parks, Recreation and Cultural Arts in the Special Revenue Fund;
• Recognition and allocation of $2,500 in Walmart Grant proceeds in the Police Grants Fund for the Shop with a Cop program; and
• Rollover of available capital budget at the end of FY 2020 for previously approved capital projects within the following funds:
o General Capital Outlay Fund - $20,364
o Gas Tax Fund - $130,000
o Parking Enterprise Fund - $94,582
Recommended for inclusion on the agenda by:
Laurette Jean, Director of Budget & Performance Management
Adam Reichbach, Assistant City Manager for Finance and Administration