THE FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT AND THE ACCOUNTING DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.
In accordance with the Broward County Administrative Code, Chapter 22, Part IV, Section 22.24, a semiannual financial summary shall be prepared and filed with the Board of County Commissioners for the Park, Open Space and Recreational Trust Fund.
The Park, Open Space and Recreational Trust Fund Summary of Revenues, Expenditures, and Changes in Fund Balance for the six months ended March 31, 2017 (Exhibit 1), includes the line item, "Transfer to Other County Funds, totaling $2,454,840." The funds were transferred to the General Capital Outlay Fund and were allocated for the construction of a water line to extend public utilities at Everglades Holiday Park, the Boater’s Park parking lot and the Central Broward Regional Park parking lot. Use of the funds for these projects is a permissible use of the trust funds, as these projects were needed to accommodate additional patrons in the park, consistent with park impact fee requirements. |