Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2024 Operating Budgets Of Various Funds As Adopted And Approved By Resolution R-2023-300; Amending The Fiscal Year 2024 Capital Improvement Plan As Adopted And Approved By Resolution R-2023-301; Authorizing The Appropriate City Officials To Accept Grants And Execute All Applicable Grant Documents.
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") 2024 Operating Budget and the FY 2024 Capital Improvement Plan adopted and approved by the City Commission on September 20, 2023, pursuant to Resolutions R-2023-300 and R-2023-301 respectively.
Fiscal Impact:
Exhibits 1 - 9 include budgetary amendments within various funds totaling $13,571,466 (net of transfers). The amendments consist of:
Exhibit 1, within the General Fund:
* Transfers $279,716 from the Wage Contingency to allocate funding for increased salaries and transportation stipends for the Mayor and City Commissioners and for part-time salaries within the City Manager's Office.
* Reallocates $190,250 of funding within Development Services from the vacant Deputy Director position to fund additional positions within the Planning division.
* Recognizes and allocates $8,153,024 of surplus fund balance at the end of FY 2023 for the following:
o $226,269 for the purchase of Fire Rescue & Beach Safety equipment including hose upgrades, helmets, and drones.
o Transfers $60,000 to the Internal Services Fund within the Information Technology Department for radio maintenance.
o Transfers $1,038,755 to the Major Equipment Replacement Fund for various capital needs.
o Transfers $6,828,000 to the General Capital Outlay Fund for various capital needs.
* Recognizes $80,075 of additional revenue for various site review projects and allocates that funding for the paymen...
Click here for full text