THE OFFICE OF MANAGEMENT AND BUDGET RECOMMENDS APPROVAL OF THE FOLLOWING YEAR-END ACTIONS WITHIN THE ENTERPRISE FUNDS:
Staff presents three supplemental budgets per year to the Board. The third supplemental budget is for the purpose of making year-end adjustments to various revenues and appropriations.
FLL OPERATING FUND - $4,056,448 - Budgeted transfers are adjusted to balance transfers between Aviation funds and budgeted reserves are reduced accordingly.
HWO OPERATING FUND - $37,500 - A budgeted transfer is increased to re-budget a transfer that was not rolled over from last year and budgeted reserves are reduced accordingly.
AVIATION REVENUE BONDS FUND - <$15,790,970> - Fund balance is adjusted <$138,252,721> to audited yearend balances, funds are transferred to this bond fund to consolidate the bond expenses in one fund ($135,475,379), and loans issued are reduced <$13,013,628> to adjust the budget based on actual bonds issued. Budgeted interest expense is reduced <$3,628,375> to reflect actual interest payments, the bond issuance costs budget is reduced to reflect updated estimates <$1,646,969> and reserves are adjusted <$10,515,626>.
FLL CAPITAL FUND - $9,736,339 - Budgeted interest earnings are increased to reflect actual interest received ($4,138,650), budgeted less five percent is adjusted ($26,100), loans issued are adjusted to reflect actual bonds issued ($5,571,589) and are then transferred to the PFC Capital fund. Reserves are adjusted accordingly ($4,164,750).
PFC CAPITAL FUND - $9,724,980 - Budgeted Passenger Facility Charge (PFC) revenue and the associated appropriation is reduced <$1,200,000> due to PFC funding not being approved for a project. Budgeted Passenger Facility Charge (PFC) revenue is appropriated ($10,924,980) as well as reserves are reduced <$23,967,000> to transfer sufficient funds to the Aviation Bond Fund ($34,891,980).
HWO CAPITAL FUND - <$274,2334> - Budgeted grant funding is reduced and the corresponding appropriations are reduced due to completion of a project. Budgeted interest earnings are increased to reflect actual interest received ($6,745). Reserves are adjusted accordingly ($77,178).
PORT EVERGLADES CAPITAL FUND - $59,000 - Budgeted revenue is increased to account for a refund of prior year expenditures of art expenses and is re-appropriated.
SOLID WASTE FUND - $268,100 - Budgeted tipping fee revenues are increased and appropriated to contractual services based on increased tonnage ($230,000). $11,400 is recognized and appropriated for bulk waste services for two cities that recently joined this County program. $26,700 is recognized and appropriated for household hazardous waste services for one city that recently joined this County program.
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