TO: Mayor and Commissioners
FROM: Hugh Dunkley, Chief Financial Officer
THROUGH: Terrence R. Moore, ICMA-CM
DATE: April 9, 2024
Title
RESOLUTION NO. 64-24 AMENDING THE FISCAL YEAR 2023-24 BUDGET ADOPTED BY RESOLUTION NO.145-23 ON SEPTEMBER 18, 2023.
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Recommended Action:
Recommendation
Motion to Approve Resolution No. 64-24 amending the budget for Fiscal Year 2023-24 adopted on September 18, 2023.
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Background:
The purpose of this request is to amend the adopted Fiscal Year (FY) 2023-24 budget to account for items that were not anticipated, or measurable at the time of original budget adoption. Per Florida State Statute (FSS) 166.241, the City’s Adopted Budget may be revised with a Budget Amendment approved by the City Commission.
Provided below is a summary of the budget changes staff is recommending. The attached Resolution and Exhibit A provide details of the proposed changes.
General Fund (001) $31,347
Neighborhood and Community Services (NCS) Department
Request to amend the FY 2023-24 NCS budget to cover operational expenditures and additional vehicle costs through the remainder of the fiscal year.
The transfer amount requested is $31,347.
Funding Source - No change in the General fund Budget - NCS Department
One Cent Sales Tax Fund (377) $500,000
Public Works Department
Request to amend the FY 2023-24 Public Works Department budget for the completion of the Delray Beach Seaboard Air Line Railway Station Reconstruction Project.
The transfer amount requested is $500,000.
Source - Prior Year Budgetary Surplus ($400,000) and Non-Operating Contingency ($100,000)
Water and Sewer - Renewal / Replacement Fund (442) $52,000
Renewal and Replacement Department
Request to amend the FY 2023-24 Renewal and Replacement Department budget to allow for additional funds needed for the Reclaimed Water Area 5 Connecting Services in Area 10 and Area 14 project and to comply with the 2008 Ocean Outfall Elimination Law usage rate by December 2025.
The transfer amount requested is $52,000.
Funding Source - No change in the Water and Sewer - Renewal / Replacement Fund
Insurance Fund (442) $52,292
Insurance / Risk Department
Request to amend the FY 2023-24 Insurance Fund budget. The City's 3"° quarter insurance premium for general liability, excess workers' compensation, and property insurance coverage through Florida Municipal Insurance Trust (FMIT) is due. The cost of the premium is allocated between three different general ledger accounts. One of the general ledger accounts (551-13-040-513-45-11) has a shortage to cover the cost of the premium. Therefore, Staff is requesting the City Commission to approve the budget transfer of $52,292 to supplement the deficit
The transfer amount requested is $52,292.
Funding Source - No change in the Insurance Fund.
Funding Source/Financial Impact:
See Exhibit A appended to Resolution No. 64-24
Timing of Request:
Approval of this request will properly amend the budget, as listed in Exhibit A.