5:31 p.m. Public Hearing for consideration of adopting a Resolution amending the Fiscal Year 2016-2017 Budget.
Recommendation: That the Board adopt the Resolution approving Supplemental Budget Amendment #036, in the amount of $72,762,321, to recognize certain revenues and adjust fund balance estimates for the following funds: General Fund (001), Escambia County Restricted Fund (101), Economic Development Fund (102), Code Enforcement Fund (103), 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 (116), Perdido Key Beach Mouse Fund (117), SHIP Fund (120), Law Enforcement Trust (121), Escambia Affordable Housing (124), CDBG Entitlement Fund (129), Handicapped Parking Fund (130), Family Mediation Fund (131), Fire Protection Fund (143), E-911 Operations Fund (145), HUD-CDBG Housing Rehab (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), FTA Capital Projects Fund (320), New Road Construction Fund (333), 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 $3,500,000 to Reserves for Contingency and $2,491,580 to Reserves for Operating (a portion of these funds will be reallocated later for capital equipment replacement). In the Economic Development Fund there is an allocation of $434,827 to Reserves. In the Code Enforcement Fund (103) there is an allocation of $284,052 to Reserves. In the Tourist Development Fund (108) there are available funds for allocation in the amount of $2,485,998, a $485,296 reserve allocation for the FY18/19 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 $9,299,276 to various LOST Projects. The appropriate backup is also provided for additional funding allocations. |