5:31 p.m. Public Hearing for consideration of adopting a Resolution amending the Fiscal Year 2017-2018 Budget.
Recommendation: That the Board adopt the Resolution approving Supplemental Budget Amendment #021, in the amount of $100,278,172, to recognize certain revenues and adjust fund balance estimates for the following funds: General Fund (001), Escambia County Restricted Fund (101), Code Enforcement Fund (103), Mass Transit Fund (104), M&A State Fund (106), Tourist Promotion Fund (108), Other Grants & Projects Fund (110), Detention/Jail Commissary Fund (111), Library Fund (113), Misdemeanor Probation Fund (114), Article V Fund (115), Development Review Fees Fund (116), Perdido Key Beach Mouse Fund (117), Gulf Coast Restoration Fund (118), Law Enforcement Trust Fund (121), Escambia Affordable Housing (124), Handicapped Parking Fund (130), Family Mediation Fund (131), Fire Protection MSBU Fund (143), E-911 Operations Fund (145), HUD-CDBG Housing Rehab Fund (146), HUD Home Fund (147), Community Redevelopment Fund (151), Southwest Sector CRA Fund (152), Bob Sikes Toll Bridge Fund (167), Transportation Trust Fund (175), MSBU Assessment Fund (177), Master Drainage Basin Fund (181), Series 2017 Capital Projects Fund (311), Local Option Sales Tax III Fund (352), Solid Waste Fund (401), Building Inspections Fund (406), EMS Fund (408), Civic Center Fund (409), and the Internal Service Fund (501), and to appropriate these funds accordingly. |
During the budget process fund balance carry forwards are estimated and placed into the budget. Once the books for the previous Fiscal Year have been closed, the actual fund balance and grant balance carry forwards are calculated, and the adjustments are made.
New allocations from the fund balance for the General Fund (001) include an allocation of $2,655,828 to Reserves for Contingency and $431,013 to Reserves for Operating. In the Code Enforcement Fund (103) there is an allocation of $528,115 to Reserves. In the Tourist Development Fund (108) there are available funds for allocation in the amount of $2,077,990, a $500,000 reserve allocation for the FY19/20 TDT Revenue Bond Payment, and a $550,000 allocation to Reserves. In the Local Option Sales Tax III Fund (352) there are funding adjustments of $23,883,239 to various LOST Projects that include a reserve allocation of $9,036,392. The appropriate backup is also provided for additional funding allocations. |