9:02 a.m. Public Hearing for consideration of adopting a Resolution amending the Fiscal Year 2018-2019 Budget.
Recommendation: That the Board adopt the Resolution approving Supplemental Budget Amendment #034, in the amount of $70,466,868, 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), Mass Transit Fund (104), M&A State Fund (106), Tourist Promotion Fund (108), Other Grants & Projects Fund (110), Detention/Jail Commissary Fund (111), Disaster Recovery Fund (112), 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 Fund (124), CDBG Entitlement Fund (129), Handicapped Parking Fund (130), Family Mediation Fund (131), Fire Protection MSBU Fund (143), E-911 Operations Fund (145), HUD-CDBG Housing Rehab Fund (146), Community Redevelopment Fund (151), Bob Sikes Toll Bridge Fund (167), Transportation Trust Fund (175), MSBU Assessment Fund (177), Master Drainage Basin Fund (181), Series 2017 Project Fund (311), FTA Capital Project Fund (320), Solid Waste Fund (401), Building Inspections Fund (406), EMS Fund (408), Bay 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 $4,185,933 to Reserves for Contingency and $1,000,000 to Reserves for Operating. In the Code Enforcement Fund (103) there is an allocation of $575,419 to Reserves. In the Tourist Development Fund (108) there are available funds for allocation in the amount of $2,305,040 and a $550,000 allocation to Reserves. In the Library Fund there is a reserve allocation of $2,423,518.
The Local Option Sales Tax III Fund (352) and LOST IV Fund (353) fund balance calculations were not completed in time to be placed on the current SBA#034. These will be brought to the Board for approval at the next available board meeting for approval.
The appropriate backup is also provided for all additional funding allocations. |