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; And 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:
Exhibits 1-3 include $3,377,262.00 of budgetary amendments within the Special Revenue Fund, Police Grant Fund, and Local Housing Assistance Trust Fund. The amendments primarily consist of:
• Rollover of available funds at the end of FY 2020 in the amount of $1,857,760.00 to continue Community Development grant programming.
• Reallocate $53,540.00 within the Community Development Division to better suit their operational needs.
• Recognition and allocation of CDBG Cares Act funds in the amount of $760,335.00 for eligible expenses.
• Recognition and allocation of Community Endowment Trust Funds in the amount of $20,000.00.
• Recognition and allocation of FY 2021 EMLEG grant funds in the amount of $63,368.00 to cover overtime and training expenses of the Police Department.
• Rollover of available funds at the end of FY 2020 in the amount of $568,343.00 to continue local housing assistance programs.
Exhibits 4-6 include $6,917,446 of budgetary amendments within the General Obligation Bond Fund, General Capital Fund, and Gas Tax Fund. The amendments primarily consist of:
• Rollover of available funds in the amount of $2,192,835 from the prior fiscal year within the General Obligation Bond Fund for previously approved fire equipment purchases.
• Rollover of available funds in the amount of $1,879,611 from the prior fiscal year within the General Capital Fund to continue various capital projects.
• $1,450,000 of available Park Impact Fee funds from the prior fiscal year is reallocated to improvements to the Mara Berman Giulianti and Stan Goldman Parks.
• $425,000 of available funds from the prior fiscal year is reallocated to cover other capital needs including additional Stan Goldman Park, sidewalk grinding, and 441/Linear Park.
• Allocation of $970,000 of Gas Tax funds to cover capital projects including replacement of mast arms on Hollywood Boulevard and restoration work on Surf Road Balboa Street.
Exhibits 7-9 include $4,941,689.00 of budgetary amendments within the Water and Sewer Fund, Storm Water Fund, and Central Services Fund. The amendments primarily consist of:
• Adjustments within the Water and Sewer Fund in the amount of $862,901.00 and subsequent adjustments to related capital projects based on a reconciliation of prior year budget.
• Allocation in the amount of $2,600,000.00 of water and sewer impact fee revenues for water and sewer reserve capacity.
• Reallocation of available funds in the amount of $1,155,371.00 within the Storm Water Fund for the Storm Water Master Plan.
• Rollover of $23,417.00 within the Central Services Fund to cover capital outlay related expenses.
Recommended for inclusion on the agenda by:
Laurette Jean, Director of Budget & Performance Management
Adam Reichbach, Assistant City Manager for Finance and Administration