LEGISLATIVE ACTION ITEM
SPONSOR: Ashton J. Hayward, III, Mayor
SUBJECT:
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BUDGET RESOLUTION NO. 18-41 - ADOPTING A FINAL BUDGET FOR THE DOWNTOWN IMPROVEMENT BOARD FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018
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RECOMMENDATION:
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That City Council adopt Budget Resolution No. 18-41.
A RESOLUTION ADOPTING A FINAL BUDGET FOR THE CITY OF PENSACOLA DOWNTOWN IMPROVEMENT BOARD FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018; PROVIDING AN EFFECTIVE DATE
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HEARING REQUIRED: Public
SUMMARY:
The TRIM law requires conformance with exacting procedures in order to lawfully adopt millage levies and budgets.
The adoption of the Downtown Improvement Board’s final budget beginning October 1, 2018 must take place after the adoption of the final millage rate resolution and the adoption of the City of Pensacola’s final budget.
The general public must be permitted to speak and ask questions prior to adoption of any measures by the City. In addition, if there are any amendments by City Council, a motion to amend should be made before each resolution is adopted. By Florida Statutes 166.241(2), a balanced budget is required to be adopted each fiscal year; therefore, any amendments brought forth for consideration must be balanced.
Although it will be necessary under the TRIM law to adopt the final millage rates and budgets at the second public hearing, the City Council may make subsequent budget amendments at any time during the fiscal year.
The final budget included in Budget Resolution No. 18-41 has been approved by the Downtown Improvement Board.
PRIOR ACTION:
September 12, 2018 - City Council adopted Budget Resolution No. 18-38 adopting a tentative budget for the Downtown Improvement Board for the Fiscal Year beginning October 1, 2018.
FUNDING:
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FINANCIAL IMPACT:
Adoption of Budget Resolution No. 18-41 will provide for a balanced budget as mandated in Florida Statute 166.241 and will ensure the City of Pensacola’s compliance under the TRIM law.
CITY ATTORNEY REVIEW: Yes
9/13/2018
STAFF CONTACT:
Keith Wilkins, City Administrator
Richard Barker, Jr., Chief Financial Officer
ATTACHMENTS:
1) Budget Resolution No. 18-41
PRESENTATION: No end