Fort Walton Beach Resolution — 2010-24 - tentative budget — reading text

Resolution 2010-24 A RESOLUTION 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, 2010 AND ENDING SEPTEMBER 30, 2011; AND SETTING AN EFFECTIVE DATE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, THAT: 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 meeting on August 16, 2010 to discuss the FY 2010-11 budget. The City held a public budget hearing September 8, 2010 as required by Florida Statutes section 200.065. 2. Tentative Tax Rate The City Council set the tentative tax rate at 4.5383 mills for property assessed as of January 1, 2010. 3. Adoption of Budget The document entitled "City of Fort Walton Beach FY 2010-11 Adopted Budget”, dated September 8, 2010, comprises the total amount of $35,708,090 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 expenditure and/or expenses even though the budget has been prepared based on line items and summarized to a categorical level. 4. 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. 5. Budget Transfers Budget transfers shall be accomplished pursuant to Resolution 2008-31, adopted by the City Council on August 18, 2008. 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, Golf, and Stormwater Enterprise Funds will be paid from operating revenues from these Enterprise Funds. 7. Carryovers a. Projects that were not completed during the prior fiscal year are carried forward as special projects and are funded with the corresponding carryover appropriations of the prior year. These are commitments anticipated to be incomplete as of September 30, 2010 and will be continued and made a part of the FY 2010-11 budget. The document entitled "City of Fort Walton Beach FY 2010-11 Project Carryovers”, dated September 8, 2010, comprises the total amount of $2,012,882 for all funds reported. b. Prior year 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, 2010 and will be continued and made a part of the FY 2010-11 budget. The document entitled "City of Fort Walton Beach FY 2010-11 Encumbrance Carryovers”, dated September 8, 2010, comprises the total amount of $1,429,726 for all funds reported. 8. Effective Date This resolution shall become effective on and after October 1, 2010. So ptombes 8, A010 Niche fd Adopted Mike Anderson, Mayor Attest: Approved for form and legal sufficiency: hn. #K CO Toni L. Craig, City Attorney () Helen Spencer, awn Finen oo 2: TtON Res. 2010-24 Page 2 of 2