Fort Walton Beach Resolution — 2008-08-Mid-Year Budget Amendment — reading text

RESOLUTION NO. 2008- 08 A RESOLUTION OF THE CITY OF FORT WALTON BEACH, FLORIDA, AMENDING THE FISCAL YEAR OCTOBER 1, 2007 THROUGH SEPTEMBER 30, 2008 BUDGET TO MAKE CERTAIN AMENDMENTS TO DESIGNATED APPROPRIATIONS OF CITY FUNDS; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, THAT: Section 1. Authority The authority for this resolution is Ordinance 1740, adopted on September 19, 2007, which authorized amendments to the budget by resolution. Section 2. General Fund Amendments a. Interest earnings <$ 113, 523> are less than anticipated due to the Federal Funds Rate declining from 5.25% when budget was prepared to the current rate of 2. 00%. Personnel savings from position vacancies and operating supplies savings will offset the revenue decrease. b. The City incurred a $ 66, 775 redemption fee for withdrawing funds from the State Board of Administration. c. The City received $ 9, 310 through a US Marshals interagency agreement, with a City commitment of $2,076. d. The City received $ 65, 430 through an Assistance to Firefighters grant, with a City commitment of $7, 270. e. The City received $ 30, 411 through a Fire Rescue Training interagency agreement, with a City commitment of $35. f. The City received $ 167 through a Library State Touring Program grant, with no City commitment. g. The City received $ 1, 000 through an Investor Education @ Library grant, with no City commitment. h. The City received $ 250,000 through an FDOT Roadside Beautification grant, with no City commitment. 1. The City waived the $ 28, 727 Payment in Lieu of Taxes for the Housing Authority. J. The City incurred $ 18, 178 in damage to fire equipment during a house fire. k. The City received a $ 3, 221 donation for Florida Government Week. 1. The City received $ 10, 427 in insurance proceeds for cemetery building damages. m. Donations in the amount of $5, 293 for the Police Department's K-9 program have been recorded as a designated fund balance and are hereby removed as a budget carryover.  n. The City incurred $ 203, 068 in additional wages and benefits expense as a result of the recently approved firefighters and battalion chiefs collective bargaining agreements. o. The budget carryover for library passport fees is increased by $ 20,495 to correct prior year activity. p. The budget carryover for museum passport fees is increased by $ 3, 545 to correct prior year activity. q. The budget carryover for museum donations is increased by $ 1, 256 to correct prior year activity. Therefore, there is appropriated <$ 113, 523> from interest earnings, $ 359, 539 from grant revenues, $ 64,450 from donations and other revenues, $ 18, 178 from designated fund balance for self insurance, and $ 273, 931 from undesignated fund balance increasing the adopted General Fund budget by $ 602, 575 from $ 19, 500, 029 to 20, 102, 604. Section 3. Law Enforcement Trust Fund Amendments a. The City incurred a $ 1, 553 redemption fee for withdrawing funds from the State Board of Administration. b. The City received $ 15, 000 through a Justice Assistance grant, with no City commitment. Therefore, there is appropriated $ 15, 000 from grant revenues and $ 1, 553 from fund balance increasing the adopted Law Enforcement Trust Fund budget by $ 16, 553 from $44, 815 to $61, 368. Section 4. Community Development Block Grant Fund Amendment The City received a $ 17, 500 donation for Wodd Changers. Therefore, there is appropriated $ 17, 500 from grant revenues increasing the adopted Community Development Block Grant Fund budget by $ 17, 500 from $ 148, 027 to $ 165, 527. Section 5. Community Redevelopment Agency Fund Amendment The City incurred a $ 13, 976 redemption fee for withdrawing funds from the State Board of Administration. Therefore, there is appropriated $ 13, 976 from fund balance increasing the adopted Community Redevelopment Agency Fund budget by $ 13, 976 from $ 1, 796, 835 to $ 1, 810, 811. Section 6. Debt Service Fund Amendment The City incurred $ 1, 699, 196 in expense to defease the 2005D Bond for the fairgrounds/ softball complex land acquisition. Therefore, there is appropriated 1, 699, 196 from designated fund balance increasing the adopted Debt Service Fund budget by $ 1, 699, 196 from $441, 405 to $2, 140,601. Section 7. Utilities Fund Amendments a. The City incurred a $ 62, 116 redemption fee for withdrawing funds from the State Board of Administration. b. The City experienced salary and benefits savings from a vacated position 14, 482>. c. The City received $ 1, 496 through a Boeing Community grant, with no City commitment. d. The City received a $ 6, 500 builder reimbursement for a water main. Therefore, there is appropriated $ 47,634 from unreserved net assets, $ 1, 496 from grant revenues, and $ 6, 500 from other revenues increasing the adopted Utilities Fund budget by $55, 630 from $8, 097, 229 to $ 8, 152, 859. Section 8. Sanitation Fund Amendment The City incurred a $ 10, 871 redemption fee for withdrawing funds from the State Board of Administration. Therefore, there is appropriated $ 10, 871 from unreserved net assets increasing the adopted Sanitation Fund budget by $ 10, 871 from $ 3, 922, 132 to 3, 933, 003. Section 9. Effective Date This resolution shall take effect immediately upon approval by the City Council and signature by the Mayor. A~ . t~ j ~ ddtJR'" Mi h e Anderson, Mayor Attest: Approved for Form and Legal Sufficiency: 6brvurlZ