Fort Walton Beach Resolution — 2025-21 Resolution to Adopt the FY 2025-26 Final Budget — reading text

RESOLUTION 2025- 21 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, ADOPTING THE BUDGET FOR CERTAIN EXPENDITURES, EXPENSES, CAPITAL IMPROVEMENTS AND CERTAIN INDEBTEDNESS FOR THE CITY OF FORT WALTON BEACH, FLORIDA, FOR THE YEAR BEGINNING OCTOBER 1, 2025 AND ENDING SEPTEMBER 30, 2026; AND PROVIDING AN EFFECTIVE DATE WHEREAS, each fiscal year, the City is required to adopt a budget for the operation of the City government; and WHEREAS, the City held a FY 2025- 26 tentative millage rate public meeting on June 24, 2025 and a public Budget Workshop on August 12, 2025 to discuss the FY 2025- 26 budget. The City held public budget hearings on September 9, 2025 and September 23, 2025 to formally adopt the FY 2025- 26 comprehensive budget as required by Section 200.065 of the Florida Statutes; and WHEREAS, the document entitled " City of Fort Walton Beach FY 2025- 26 Budget" comprises the total amount of$65, 247, 932 for all funds reported; and WHEREAS, it is the desire for the City Council for the City of Fort Walton Beach, Florida to adopt a final budget for the fiscal year beginning October 1, 2025 and ending September 30, 2026. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA: Section 1. Adoption of Budget The City Council hereby approves and adopts the final FY 2025- 26 budget for the City of Fort Walton Beach, Florida entitled " City of Fort Walton Beach FY 2025- 26 Budget" which comprises the total amount of$ 65, 247, 932 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 2. Budget Amendments a. The City Council may make any amendments to the adopted budget, by resolution, as it may deem necessary and proper. b. Budget amendments requesting additional expenditures or expenses must also identify the corresponding funding source. Section 3. 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 4. Debt Service a. Debt service for the General Fund will be paid from operating revenues from the General Fund. b. Debt service for the Utilities, Sanitation and Stormwater Enterprise Funds will be paid from operating revenues from the Enterprise Funds.  RESOLUTION 2025- 21 Section 5. 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, 2025 and will be continued and made a part of the FY 2025- 26 budget. The document entitled " City of Fort Walton Beach FY 2025- 26 Grant& CIP Project Carryovers" dated September 23, 2025 comprises the total amount of$3, 385, 373 for all funds reported. b. Encumbrances ( open purchase orders) that were not completed during the prior fiscal year are carried forward and are funded with the corresponding carryover appropriations of the prior year. These are commitments anticipated to be incomplete as of September 30, 2025 and will be continued and made a part of the FY 2025-26 budget. The document entitled " City of Fort Walton Beach FY 2025- 26 Encumbrance Carryovers" dated September 23, 2025 comprises the total amount of$ 7, 279, 754. 12 for all funds reported. Section 6. Effective Date This resolution shall become effective on and after October 1, 2025. Adopted: SelkerA 2r a3 20 a. s Nic Allegretto, Mayor Attest: Approved as o legal form and sufficiency for the City If/ rt alton Beach, only. JAW, Kim Barnes, City Clerk Jeffrey L. f s, City Attorney WAL ro•N 1s I FLoniofh