Subject:
Title
Approval of Third Quarter Supplemental Budget for Fiscal Year 2020-2021
End
Fiscal Impact:
The budget supplement amends the County’s budget from $1,552,288,430 to $1,558,379,283, an increase of $6,090,853 or 0.39%.
Dept/Office:
Budget
Requested Action:
Recommendation
It is requested that the Board of County Commissioners approve a Supplemental Budget for the Third Quarter of Fiscal Year 2020-2021, authorize the Chair to sign the Resolution, and approve the budget changes and such actions as are necessary to implement the adopted changes.
End
Summary Explanation and Background:
The County’s Supplemental Budget for the Third Quarter of FY 2020-2021 is adopted by a resolution after holding a public hearing as required by Chapter 129, Florida Statutes. Supplemental Budget Change Requests, for applicable County Agencies, are included in the Supplemental package. These documents are attached for review and approval.
A summary of the proposed Budget Supplement, along with a notice of date and time of the public hearing, was advertised in the April 2, 2021 edition of the Florida Today.
General Funds increase by $7.9M. The most significant cause is a $5.2M increase in General Government Balance Forward, which is primarily the result of estimated revenue declines associated with COVID-19 being less than anticipated. These funds are being set-aside in Capital Reserves for completion of the new Emergency Operations Center (EOC). As alternative funds are identified and allocated to the EOC, this Capital Reserve can be reallocated to other unfunded critical needs during the FY2021-2022 budget development process. Balance Forward also increases in Facilities Management, $812K, and Parks and Recreation, $793K, and is being allocated for the completion of priority projects.
Transportation Trust Funds increase by $5.5M, primarily due to increases in Balance Forward associated with Countywide Road and Bridge Funds for multi-year major repair and maintenance projects that were not completed or progressed as anticipated in FY2019-2020.
Special Revenue Funds decrease $9.3M, which is primarily associated with a decrease in the CARES Act Coronavirus Relief Fund carry-forward, ($32.0M). This decrease is offset by increases in Balance Forward for the following: Fire Rescue, $8.3M (which is primarily the result of CARES reimbursements for Countywide EMS Transport); Parks and Recreation, $5.9M; Natural Resources, $3.1M; Tourism Development, $3.3M; Law Enforcement MSTU, $2.7M.
Debt Service Funds increase by $605K, which is a result of increases in Balance Forward associated with ad valorem tax revenue for the four voter-approve Debt Millage funds.
Capital Project Funds decrease by $5K which is primarily associated with adjustments in Balance Forward associated with Parks Referendum projects.
Enterprise Funds decrease $545K, which is primarily the result of decreases in Balance Forward for the Solid Waste Department.
Internal Service Funds increase by $1.9M, which is primarily the result of an increase in Balance Forward for the Employee Benefits Fund, however, this fund experienced an overall decrease when compared to FY2019-2020.
Clerk to the Board Instructions: