Title
Vote on a request to approve Fiscal Year 2017-2018 Budget Amendments
Abstract
Action Requested: Vote to approve budget amendments as proposed by staff
Introduction & Background: During the fiscal year, the budget must be amended as changing conditions warrant. The fiscal year 2017-2018 budget ordinance authorizes the County Manager to transfer funds within a department without limitation. The Manager may also transfer amounts of up to $5,000 between departments of the same fund and transfer amounts up to $50,000 from contingency with a memorandum report of such transfers to the Board. Resolution #2000-43 allows the Finance Officer to transfer amounts form the vehicle replacement fund for the purchase of vehicles approved for replacement in accordance with the fleet management replacement criteria. The Board must approve all other transfers.
Discussion & Analysis: The attached proposed amendments must be approved by the Board of Commissioners for fiscal year 2018.
The attached amendments increase the following departments in the General Fund: Tax by a total of $14,939 to cover foreclosure costs, Cooperative Extension by a total of $14,079 to cover 4-H Day Camp expenses, Mental Health by a total of $2,000 to cover Cap tax allocations, and Non-Profits by a total of $174,959 to cover ROAP program funds.
The attached amendments increase the Facility/Debt Reserve by $2,500,000 to cover up fronting costs related to CIP projects included in the 2018 borrowing.
The attached amendments increase the Enterprise fund budgets as follows: the Utility fund by a total of $75,000 to cover additional water purchases from the City of Sanford.
Budgetary Impact: The proposed amendments increase the General Fund by $205,977, the Facility Debt Reserve Fund by $2,500,000, and the Utility Fund by $75,000.
Recommendation: Vote to approve budget amendments as proposed by staff.