Broward County Commission Regular Meeting

MOTION TO ADOPT supplemental budget Resolution Nos. 2018-181 through 2018-187 within the Internal Service Funds in the amount of $11,532,982 to adjust fund balances and other budgeted revenues and appropriate funds to reserves and other commitments.

ACTION:  (T-3:08 PM)  Approved.  (Refer to minutes for full discussion.)
 
VOTE: 9-0.

Supplemental budgets are required whenever existing revenue sources are increased or decreased, resulting in a change in the total appropriations of a fund.

The primary purpose of this supplemental budget is to adjust the budgeted fund balance in order to correspond to the audited fund balance for each fund. This budget amendment also includes a proposed appropriation to address a need that has arisen since the adoption of the Fiscal Year 2018 budget.

None.

Staff presents three supplemental budgets per year to the Board. The purpose of the second supplemental budget is primarily to adjust the budgeted fund balance to correspond to the audited amounts. 

FLEET SERVICES FUND (50100) - $103,622 - Budgeted fund balance is adjusted and the additional funds are appropriated to reserves.

RISK MANAGEMENT FUND (50015) - $2,583,690 - Budgeted fund balance is adjusted and the additional funds are  appropriated to reserves.

BSO SELF INSURANCE FUND - (50020) - <$1,494,740> - Budgeted fund balance is reduced  based on actuarial adjustments and reserves are reduced accordingly.

EMPLOYEE BENEFITS FUND - (50025) - $7,977,040 - Budgeted fund balance is adjusted and the additional funds are appropriated to reserves.

BSO WORKER’S COMPENSATION FUND (50030) - $1,078,030 - Budgeted fund balance is adjusted and the additional funds are appropriated to reserves.

OWNER’S CONTROLLED INSURANCE PROGRAM (OCIP) FUND (50035) - $1,256,340- Budgeted fund balance is adjusted and the additional funds are appropriated to reserves.

PRINT SHOP FUND (50200) - $29,000 - Budgeted fund balance is adjusted and the additional funds are appropriated to reserves.

Norman Foster, Director, Office of Management and Budget, (954) 357-6345