Broward County Commission Regular Meeting

MOTION TO ADOPT supplemental budget Resolution Nos. 2018-171 through 2018-180 within the Enterprise Funds in the amount of $13,947,219 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 number of proposed appropriations to address issues that have 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. This budget amendment also includes a number of proposed appropriations which are highlighted individually below.

FLL OPERATING FUND (40100) - <$4,797,938> - Budgeted fund balance is adjusted <$4,797,938> and reserves are reduced accordingly.  Reserves are reduced further to transfer funds to the Disaster Recovery Fund to cover Hurricane Irma costs relating to the airport ($284,454).   

HWO OPERATING FUND (40200) - $216,739 - Budgeted fund balance is adjusted and the additional funds are appropriated to reserves.

FLL CAPITAL FUND (40350) - $0 - Funds are reallocated from reserve ($2 million) and added to the $5 million currently budgeted for the Airport's $7 million share of the purchase of the Shaw property.

DISASTER RECOVERY FOR AVIATION FUND (40600) - $0 - Budgeted fund balance is adjusted <$284,454> and a transfer from the FLL Operating Fund is budgeted to cover the shortfall.  

PORT EVERGLADES OPERATING FUND (42100) - $1,825,075 - Budgeted fund balance is adjusted ($1,825,075).  The funds are allocated to cover increased costs for the Countywide GIS contract ($30,000), the fee ($250,000) to submit a formal application for a loan approved by the Board on June 6, 2017; the annual fee for a new letter of credit associated with the insurance coverage for the Southport Turning Notch Extension project ($23,730) and reserves ($1,521,345).

PORT EVERGLADES CAPITAL FUND (42250) - $17,198,543 - Budgeted fund balance is adjusted and the additional funds are appropriated to reserves.

WATER AND WASTEWATER CAPITAL FUND (44250) - $0 - Budgeted fund balance is adjusted <$16,869,494> and budgeted bond proceeds are increased ($16,869,494) to offset the adjustment to fund balance.

WATER MANAGEMENT FUND (44700) - <$4,000> - Budgeted fund balance is adjusted and reserves are reduced accordingly <$4,000>.

SOLID WASTE FUND (47100) - <$534,200> - Budgeted fund balance is adjusted and reserves are reduced accordingly.

UNINCORPORATED AREA WASTE COLLECTION FUND (47150) - $43,000 - Budgeted fund balance is adjusted and the additional funds are appropriated to reserves.

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