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Approval to rollover funding from Fiscal Year 2024 to Fiscal Year 2025, for capital outlay and operating expenditures totaling $2,933,171.
(Fiscal Impact: $2,933,171 Various Funds)
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(Staff Contact: Erjeta Diamanti)
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Summary Explanation/Background:
The resolutions adopting the annual budget authorize staff to fund all purchases ordered by a valid purchase order document but not yet received by the close of the fiscal year. In those cases, the financial system, via the purchase order document, will encumber and roll forward the required budget into the new fiscal year to pay for the item upon receipt.
In some cases, however, bids have not been awarded, and funding has not been encumbered via a purchase order. For these items, the budget should be re-appropriated in the new fiscal year either because a financial system encumbrance did not exist on the date at which new purchases were forbidden to be entered into the financial system to allow for fiscal year end routine maintenance or other reasons such as delays in supply chain shortage and delivery, etc.
Departments have provided an explanation (attachment) for rolling forward various capital outlay and operating expenditures, primarily related to maintenance and equipment essential for their annual operations. Staff is seeking the City Commission’s approval to roll over $2,933,171 from FY 2024 to FY 2025 for various funds.
Origin of request for this action: Budget Office
Fiscal impact and source of funding: Funding comes from FY 2024 previously approved appropriations: General Fund $739,461; Utility Fund $1,092,247; Stormwater Fund $169,890; Airpark Fund $37,822; Building Inspections Fund $858,000 Central Services Fund $35,751
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