LEGISLATIVE ACTION ITEM
SPONSOR: Ashton J. Hayward, III, Mayor
SUBJECT:
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SUPPLEMENTAL BUDGET RESOLUTION NO. 17-84 - FY 2018 NON-ENCUMBERED CARRYOVER BUDGET RESOLUTION
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RECOMMENDATION:
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That City Council adopt Supplemental Budget Resolution No. 17-84.
A RESOLUTION AUTHORIZING AND MAKING REVISIONS AND APPROPRIATIONS FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2018; PROVIDING FOR AN EFFECTIVE DATE.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
At the November 9, 2017 City Council Meeting, City Council adopted an unencumbered carryover budget resolution appropriating items that were budgeted in FY 2017 but were not purchased or encumbered as well as items to be purchased with additional unexpended FY 2017 appropriations. The attached supplemental budget resolution addresses items that were not addressed in that resolution.
Within the Special Grants Fund a grant for Bullet Proof Vests was received after the aforementioned resolution was presented to City Council. Those funds have been appropriated on this resolution.
In the supplemental budget resolution adopted by City Council at the November meeting, there were adjustments within the various CRA funds resulting from the issuance of the 2017 Bonds. Included in the adjustment was a transfer from the Westside TIF Fund to the CRA Debt Service Fund. However, the transfer was only addressed within the Westside TIF Fund. Included in this resolution is the appropriation to receive the funds within the CRA Debt Service Fund.
In the November 9, 2017 non-encumbered carryover budget resolution, estimated unexpended appropriations were carried forward to the new fiscal year. Final carryover amounts have been determined and additional balances remaining for the Eastside TIF Fund, Westside TIF Fund, LOGT Series 2016 Project Fund, CRA Series 2017 Project Fund are being carried forward.
Within the Local Option Sales Tax Fund, an additional $100,000 is being appropriated for Bayview Park by moving funds up from Fiscal Year 2019. This will allow for the construction of the Fitness Court project in conjunction with the LEAP class.
Balances carried forward for the Deep Water Horizon Incident Fund and the Stormwater Capital Projects Fund are being adjusted to reflect final unexpended appropriations.
PRIOR ACTION:
September 20, 2017 - City Council formally adopted a beginning FY 2018 Budget
November 9, 2017 - City Council adopted a supplemental budget resolution covering purchase orders payable.
November 9, 2017 - City Council adopted a supplemental budget resolution covering unencumbered carryovers.
FUNDING:
N/A
FINANCIAL IMPACT:
Approval of the supplemental budget resolution provides for a balanced budget for Fiscal Year 2018.
CITY ATTORNEY REVIEW: Yes
12/4/2017
STAFF CONTACT:
Eric W. Olson, City Administrator
Richard Barker, Jr., Chief Financial Officer
ATTACHMENTS:
1) Supplemental Budget Resolution No. 17-84
2) Supplemental Budget Explanation No. 17-84
PRESENTATION: No end