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Approval of budget adjustment to align the budgets and eliminate negative variances in Fiscal Year 2024.
(Fiscal Impact: $3,007,427)
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(Staff Contact: Erjeta Diamanti/Allison Feurtado)
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Summary Explanation/Background:
The City must present its budget to actual performance for financial reporting purposes for its governmental funds with a legally adopted budget. Negative variances within these functions would violate the City's budgetary-level controls.
Section 166.241(8) of the Florida Statutes states that the governing body of each municipality at any time within a fiscal year or within 60 days following the end of the fiscal year may amend a budget for that year as follows: (a) Appropriations for expenditures within a fund may be decreased or increased by motion recorded in the minutes if the total appropriations of the fund is not changed.
Attached is an explanation of the items being considered for adjustments and the impact on the funds.
Origin of request for this action: Budget Office
Fiscal impact and source of funding: $3,007,427 general fund balance for EMS services $763,276, and various general fund revenue sources for the general fund operations $2,244,151.
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