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Home My WebLink AboutR-24-34 1st Qtr Budget AdjustmentsRESOLUTION NO. R-24-34 A RESOLUTION OF THE CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA RECOGNIZING CERTAIN ADJUSTMENTS TO THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2023 AND ENDING SEPTEMBER 30, 2024 AS PROVIDED FOR IN EXHIBIT "A"; PROVIDING FOR CONFLICTS; PROVIDING FOR SCRIVENER'S ERRORS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, an analysis of the revenues and expenditures for the three (3) months that ended on December 31, 2023 was made and it was determined there was a budget adjustment to the General Fund R&R Account that is required to be formally reported to the City Council; and WHEREAS, it was determined that the City Council and City Manager previously approved all the necessary amendments and adjustments and these are being reported in accordance with the Annual Budget Resolution. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, THAT: Section 1. The above recitals are hereby recognized as true correct and incorporated herein. Section 2. The budget of the City of Sebastian, Indian River County, Florida for the Fiscal Year beginning October 1, 2023 and ending September 30, 2024 has been amended and adjusted as necessary within the quarter ending December 31, 2023; a summary of such amendments and adjustments being attached hereto and more particularly identified as Exhibit "A"; the revised appropriations, if any, are set out therein and are recognized as having been made to maintain and carry on the government of the City of Sebastian, Indian River County, Florida. Section 3. All Resolutions or parts of Resolutions in conflict herewith are hereby repealed. Section 4. Sections of this Resolution may be renumbered or re -lettered and corrections of typographical errors which do not affect the intent may be authorized by the City Manager, or the City Manager's designee, without need of further action of the City Council by filing a corrected copy of same with the City Clerk. Section 5. This Resolution shall become effective immediately upon its adoption. It was moved for adoption by Councilmember The motion was seconded by Councilmember vote was as follows: Mayor Ed Dodd Vice -Mayor Kelly Dixon Councilmember Bob McPartlan Councilmember Fred Jones Councilmember Christopher Nunn McPartlan Dixon and, upon being put to a vote, the ave _ aye aye aye aye The Mayor thereupon declared this Resolution duly passed and adopted this 20 day of July 2024. ATTEST: ��ce Gjt.Q,ew.�na J ette Williams, MMC City Clerk ' CITY OF SEBASTIAN ORIDA By: 1 Mayor Ed Dodd Approved as to form and legality for the rePty t City of Seb tian only: Cockcroft, Esq. orney EXHIBIT "A" OF RESOLUTION R-24-34 SUMMARY OF BUDGET CHANGES FOR THE QUARTER ENDED December 31, 2023 ADJUSTMENTS PREVIOUSLY APPROVED BY CITY COUNCIL: Budget Before Budget Budget After Project/Account Change Adjustment Change Reason for Adjustment Various Projects _ _ - . _ $251,760 $100 691 $352,451 09/27/23 Budget Resolution Authorizes AppT2Tat(on from General Reserves - _ _ $0 _ . _.. $§6,190� $f g6,19p) _Adjustments for purchases obligated but r Appropriation from Stormwater Reserves _____ _ $419,749_ ($14,501) j$434,250)_ received by the end of the fiscal year. ,opropriated from General Reserves ($86,190) $217 9) 79l tlo)l,)ropq� proprjej My, fo LOGT Reserves $01 $941 0) ► 1 f. 09/27/23 Adjustments for Transfers to prop a mDD�TReserves $a1 ( 756 421 ($,758, 2 propriated from CRA Reserves $0) t58a50 6 450� Project Funds for projects previously ted from Rec. Imqp>�Reserves ($171 7) (� 91:636� �Q approved but not completed by year-end. lopf(�m S{prmR er eserves ( 0 11$175993 / ipropdafe� from Airporf Reserves-.. Sy-,813) 5$�364) 1�96, ��j ...... Sign%LandsMiMGrants _ _ _ _ $40,000 _ $31,951 _ $71,951 07/27/22 Adjusts for Grants approved by A_ro tedi�� e...ves__ ��0)________{$31:951)____ j$680,000�_CtyCounc-lbutnoty_etpafd:. R&M 0 p i E uip ant f$01 19,100 19 100 10/25/23 Approved replacement of one pole Appropna ion___m o __ eserves____________________ $0)__ ___� ' 9,100)_ 19,1001_ at the Golf Course Dnvinq Range; _ Improvements Other Than Buildings _ . _—_ _ _ $0- . _ $100,000 _ _ _ $100 000 10/25/23 Approved FIND Grant and FIND Grant ___ _ $01_ _ �$5o 000� �0,000) matching funds for Marine Law Enforcement ---- - - ConMbutions and Donations 0 _______ $50,000 ----------•-- - ------- - --------- �� 0 $ 2,346 �$5 2,345 _Facility_ Rurrvvay 05-23 Rehabilitation $0 $292,345 $292,345 FAA Grant ( ¢3 109) ($263109 12/1323 Approved additional rant funding pp PP g 9 FDOT Grant JJ0J________ �$14!818�x the Runway 05-23Rehabilitation project. -------------------------------•---- AppropriatlonfromDSTResenes---------•--_-(54,75{$14,618)---- j$4,771,360Z----------------------- -------------------- ADJUSTMENTS BEING SUBMITTED FOR CITY COUNCIL APPROVAL: Budget Before Budget Budget After W- A ADJUSTMENTS PREVIOUSLY AUTHORIZED BY THE CITY MANAGER: Budget Before Budget Budget After Project/Account Chan Adjustment Chan Reason for Adjustment Senior Center gWetlng i` $�,90 Adjustment to Increase Project using the Contractual Services __________ $2,043, _ (___ 0)$2,030,__ Facilities Maintenance bud pet. Ir;ypup}aw_In_i�_.:�.rAhis r{es �$303,879) __._ $6,667._j$301.15� Adjustment to closeoutS4early:ftuu. Y' Jon SEBASTIAN CITY COUNCIL AGENDA TRANSMITTAL Council Meetlna Date: July 24, 2024 Agenda Item Title: Resolution No. R-24-34 Accepting 1st Quarter Financial Report and Recognizing Necessary Amendments and Adjustments to the FY 2023-2024 Annual Budget. Recommendation: Move to Approve Resolution R-24-34 Background: Pursuant to City financial policies, budget reviews and any necessary adjustments are presented to the City Council quarterly. A capital project status report, investment report and accomplishments are also included. Formal approval by City Council was previously given for adjustments to budgets for purchases obligated at year-end; carryover balances of projects not completed by year-end; unpaid Sign/Undscaping Grants; replacing a driving range pole; a grant for the Marine Law Enforcement Facility; and additional grant funding for Runway 05-23. One adjustment during the quarter used the General Fund R&R Account, which is being reported to City Council in accordance with our policy on R&R adjustments. In accordance with the authority given by the Annual Budget Resolution, the City Manager approved other budget transfers between accounts within Departments and authorized adjustments that were necessary to implement programs, projects and expenditures that were previously authorized by the City Council. Adjustments may include budget changes within his $15,000 spending authority, budget adjustments between budget accounts within the same departments, as well as adjustments to closeout completed or cancelled projects. In line with this, the City Manager approved an adjustment that used funds from the Facility Maintenance budget to cover a portion of the costs of carpeting the Senior Center and the City Manager approved an adjustment to closeout the Senior Center Roof project. Additional details on the above adjustments are listed in Exhibit "A" as an attachment to the resolution. If Agenda Item Reouires Exnenditure of Funds: Budgeted Amount: As per Exhibit "A" of the Resolution Total Cost: N/A Funds to Be Utilized for Appropriation: N/A Attachments: 1. Resolution R-24-34 and Exhibit 2. 1" Quarter Report (� / Administrative Services Department Review: al d�— City Attorney Review• Procurement Division eview, ifa/pplicable: City Manager Authorization: V Date: 7/17.ha ay