Fort Walton Beach Resolution — 2023-13 Adopting Tentative Budget FY 2023-24 — reading text

RESOLUTION 2023- 13 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, 2023 AND ENDING SEPTEMBER 30, 2024; 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 2023- 24 budget for the City of Fort Walton Beach was presented to the City Council on August 7, 2023; and WHEREAS, the City' s property value for 2023 was certified by the Okaloosa County Property Appraiser on June 21, 2023; 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 ESOLVED !. Y THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, AS FOLLOWS: Section I. 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 7, 2023 to discuss the Proposed FY 2023- 24 Budget. The City held a public budget hearing on September 12, 2023 as required by Section 200.065 of the Florida Statutes. Section 2. Tentative Tax Rate The City Council set the tentative tax rate at 4. 9999 mills, at the June 20, 2023 budget policy meeting, for properties assessed as of January 1, 2023. The City held a public budget workshop on August 7, 2023 and direction did not change. The City Manager used 4. 9999 mills to prepare the Proposed FY 2023- 24 Budget, the current FY 2022- 23 millage rate. Section 3. Adoption of Budget The document entitled " City of Fort Walton Beach FY 2023- 24 Budget" comprises the total amount of$ 56,952, 864 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.  RESOLUTIION 2023- 13 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 and amended August 23, 2023. Section 6. Debt Service Debt service for the General Fund will be paid from operating revenues in the General 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, 2023 and will be continued and made a part of the FY 2023- 24 budget. The document entitled " City of Fort Walton Beach FY 2023- 24 Grant & CIP Project Carryovers" dated September 12, 2023 comprises the total amount of$ 6, 138, 800.91 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, 2023 and will be continued and made a part of the FY 2023- 24 budget. The document entitled " City of Fort Walton Beach FY 2023- 24 Encumbrance Carryovers" dated September 12, 2023 comprises the total amount of$ 17, 800, 181. 23 for all funds requested. Section 8. Effective Date This resolution shall become effective on and after October 1, 2023. Adopted: St Of v-vtV er l,-. 1o..- i Nic Aleg r- tto, Mayor Pro Te Attest: Approved for form, legal sufficiency II / Kim . Barnes, City Clerk Foi' R% w,a. N r Kimberly Romano Kopp, Interim City Attorney e 7 ....---- tOP t 11117 I; FLOW"