Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2023 Operating Budgets Of Various Funds As Adopted And Approved By Resolution R-2022-283; Amending The Fiscal Year 2023 Capital Improvement Plan As Adopted And Approved By Resolution R-2022-284.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
This Resolution seeks authorization to amend the Fiscal Year (FY) 2023 Operating Budget and the FY 2023 Capital Improvement Plan adopted and approved by the City Commission on September 22, 2022, pursuant to Resolutions R-2022-283 and R-2022-284 respectively.
Fiscal Impact:
Exhibits 1-12 include budgetary amendments within various funds totaling $61,204,071. The amendments consist of:
Exhibit 1, within the General Fund recognizes surplus fund balance in the amount of $21,000,000 from the prior fiscal year and transfers it to the General Capital Outlay Fund and Internal Service Fund for critical capital projects.
Exhibit 2, within the Special Revenue Fund, reallocates $16,000 of available CDBG funds to the CDBG/HOME Fund.
Exhibit 3, within the Police Grant Fund, recognizes the 2021 Department of Homeland Security Grant in the amount of $333,497 and allocates the grant proceeds for cybersecurity software and eligible police equipment purchases.
Exhibit 4, within the CDBG/HOME Grant Fund:
* Recognizes HOME-ARP funds in the amount of $1,915,134 for various social service programs including homeless prevention and counseling services.
* Reallocates $508,340 to better serve the operational needs of the CDBG program.
* Recognizes the transfer for $16,000 from the Special Revenue Fund to the CDBG/HOME Fund
Exhibit 5, within the ILA Fund, reallocates $4,345,351 in alignment with the approved activities of the ILA program.
Exhibit 6, within the Park Impact Fee Fund, transfers a previously budgeted matching funds in the amount of...
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