LEGISLATIVE ACTION ITEM
SPONSOR: Ashton J. Hayward, III, Mayor
SUBJECT:
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SUPPLEMENTAL BUDGET RESOLUTION NO. 18-01 - DOWNTOWN IMPROVEMENT BOARD WASTE CO-OP
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RECOMMENDATION:
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That City Council adopt Supplemental Budget Resolution No. 18-01.
A RESOLUTION AUTHORIZING AND MAKING REVISIONS AND APPROPRIATIONS FOR THE DOWNTOWN IMPROVEMENT BOARD FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2018; PROVIDING FOR AN EFFECTIVE DATE.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
The Downtown Improvement District is a dependent special district within the City of Pensacola and is governed by the Downtown Improvement Board (DIB). Florida Statutes 189-012 mandates that a dependent special district must have a budget that requires approval by the governing body of a single municipality. Each year, the Downtown Improvement Board’s budget is adopted by City Council at the mandated public hearings as part of the budget process. In order to maintain a balanced budget, supplemental budget resolutions require approval by City Council during the course of a fiscal year.
In October 2017, the DIB was asked to resume the management of the Palafox Waste Co-Op. Due to this change, the DIB is requesting an amendment to the Fiscal Year 2018 Parking Fund budget to reflect the revenue and additional expenses associated with the management of the waste co-op. Also included in the supplemental budget resolution is an appropriation for the purchase of a compactor enclosure which is required for the management of the Palafox Waste Co-Op. The costs associated with the purchase of the compactor enclosure will be repaid by the 19 co-op participants over a 5 year period. On Wednesday, December 13, 2017, the DIB approved the oversight of the management of the Palafox Waste Co-Op as well as the proposed budget adjustments.
PRIOR ACTION:
September 20, 2017 - City Council formally adopted a beginning FY 2018 Budget for the Downtown Improvement Board.
FUNDING:
N/A
FINANCIAL IMPACT:
Approval of the supplemental budget resolution will provide funding to implement the management of the Palafox Waste Co-Op and will provide for a balanced budget for the Downtown Improvement Board for Fiscal Year 2018.
CITY ATTORNEY REVIEW: Yes
12/19/2017
STAFF CONTACT:
Eric W. Olson, City Administrator
Richard Barker, Jr., Chief Financial Officer
ATTACHMENTS:
1) Supplemental Budget Resolution No. 18-01
2) Supplemental Budget Explanation No. 18-01
PRESENTATION: No end