Fort Walton Beach Resolution — 2022-14--Adopt Temtative FY 2022-23 Budget — reading text

RESOLUTION 2022- 14 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, ADOPTING THE TENTATIVE BUDGET FOR CERTAIN EXPENDITURES, EXPENSES, CAPITAL IMPROVEMENTS AND CERTAIN INDEBTEDNESS FOR THE CITY OF FORT WALTON BEACH, FLORIDA, FOR THE YEAR BEGINNING OCTOBER 1, 2022 AND ENDING SEPTEMBER 30, 2023; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Fort Walton Beach City Charter requires the City Manager to prepare and submit an annual city budget to the City Council identifying the expenditures and revenues in sufficient amounts to cover all appropriations; and WHEREAS, the proposed FY 2022- 23 budget for the City of Fort Walton Beach was presented to the City Council on August 2, 2022; and WHEREAS, the City' s property value for 2022 was certified by the Okaloosa County Property Appraiser on June 15, 2022; and WHEREAS, all applicable legal requirements pertaining to public notices and hearings have been satisfied within the specified deadlines and prior to final adoption of this resolution; and WHEREAS, the City Council has examined and carefully considered the proposed budget in properly noticed public meetings. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, AS FOLLOWS: Section 1. Purpose Prior to the beginning of a new fiscal year, the City is required to pass and adopt a budget for the operation of the City government. The City held a public budget workshop on August 2, 2022 to discuss the Proposed FY 2022- 23 Budget. The City held a public budget hearing on September 7, 2022 as required by Section 200.065 of the Florida Statutes. Section 2. Tentative Tax Rate The City Council set the tentative tax rate at 5. 3293 mills, at the June 21, 2022 budget policy meeting, for properties assessed as of January 1, 2022. The City held a public budget workshop on August 2, 2022 and directed the City Manager to lower the millage tax rate to 4. 9999 mills to prepare the Proposed FY 2022- 23 Budget, this is the third year ( out of four) that City Council has lowered the millage. Section 3. Adoption of Budget The document entitled " City of Fort Walton Beach FY 2022- 23 Budget" comprises the total amount of $56, 767,451 for all funds reported. The budget is being presented as a balanced budget whereby there are sufficient revenues to offset all estimated expenditures or expenses. All budget appropriations are based upon the total expenditures and/ or expenses even though the budget has been prepared based on line items and summarized to a categorical level. Section 4. Budget Amendments a. The City Council may make any amendments to the adopted budget, by resolution, as it may deem necessary and proper.  RESOLUTION 2022- 14 b. Budget amendments requesting additional expenditures or expenses must also identify the corresponding funding source. Section 5. Budget Transfers Budget transfers shall be accomplished pursuant to Administrative Policy FIN -13 as provided by Resolution 2011- 19 adopted by the City Council on August 16, 2011. Section 6. Debt Service Debt service for the General Fund will be paid from operating revenues and/ or transfers from the Debt Service Fund. Debt service for the Utilities and Stormwater Enterprise Funds will be paid from operating revenues from the Enterprise Funds. Section 7. Carryovers a. Projects that were not completed during the prior fiscal year are carried forward and are funded with the corresponding carryover appropriations of the prior year. These are commitments anticipated to be incomplete as of September 30, 2022 and will be continued and made a part of the FY 2022-23 budget. The document entitled " City of Fort Walton Beach FY 2022- 23 Grant & CIP Project Carryovers" dated September 7, 2022 comprises the total amount of $4, 250, 000 for all funds requested. b. Encumbrances ( open purchase orders) that were not completed during the prior fiscal year are carried forward and are funded with the corresponding carryover appropriations of the prior year. These are commitments anticipated to be incomplete as of September 30, 2022 and will be continued and made a part of the FY 2022-23 budget. The document entitled " City of Fort Walton Beach FY 2022- 23 Encumbrance Carryovers" dated September 8, 2022 comprises the total amount of $2, 790,000 for all funds requested. Section 8. Effective Date This resolution shall become effective on and after October 1, 2022 Adopted: So, l ewt o r' 11 Richard A. Rynearso , Mayor