Subject:
Title
Approval of Third Quarter Supplemental Budget for Fiscal Year 2020-2021
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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.
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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 mainten...
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