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13-14-FY 3rd QuarterRESOLUTION NO. R -14 -16 A RESOLUTION OF THE CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA AMENDING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2013 AND ENDING SEPTEMBER 30, 2014 AS PROVIDED FOR IN EXHIBIT "A "; PROVIDING FOR CONFLICTS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Sebastian adopted Resolution No. R -13 -23 on September 25, 2013 approving the City's 2013 -14 budget, also referred to as the Annual Budget Resolution; and WHEREAS, the City of Sebastian adopted Resolution R -14 -05 on March I2, 2014 amending said Resolution; and WHEREAS, the City of Sebastian adopted Resolution R -14 -09 on May 28, 2014 amending said Resolution; and WHEREAS, an analysis of the revenues and expenditures for the three (3) months that ended June 30, 2014 indicated that no additional adjustments need approval by the City Council; and WHEREAS, the City Council and City Manager have previously approved any other necessary adjustments 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 budget of the City of Sebastian, Indian River County, Florida for the Fiscal Year beginning October 1, 2013 and ending September 30, 2014 be amended as necessary, a summary of such amendments being attached hereto and more particularly identified as Exhibit ` °A ", the revised appropriations, if any, are set out therein and are hereby made to maintain and carry on the government of the City of Sebastian, Indian River County, Florida. Section 2. All resolutions or parts of resolutions in conflict herewith are hereby repealed. Section 3. This Resolution shall become effective F:Znd, 'ts adoption. It was moved for adoption by Councilmember The motion was seconded by Councilmember upon being put to a vote, the vote was as follows: Mayor Bob McPartlan Vice -Mayor Jim Hill Councilmember Andrea Coy Councilmember Jerome Adams Councilmember Richard Gillmor The Mayor thereupon declared this Resolution duly passed and adopted this 27`x` day of August 2014. ATTEST: 41, lx� Sally A. M ' , MMC City Cle CITY OF SEBASTIAN, F DA By: ! Mayor Bob McPartlan Approved as to form and content for reliai the City of Sebastian only: Robert A. Ginsburg, City Attorney EXHIBIT "A" of RESOLUTION R -14 -16 SUMMARY OF BUDGET CHANGES FOR THE QUARTER ENDED JUNE 30, 2014 Amounts Changes Authorized by City Manager: Transfer within City Clerk budget for preparing walls in Council Chambers to hold TV monitors. $ 450 Adjustment within MIS Division budget to properly charge broadcast expenditures and $ 763 shortfalls in other accounts. Adjustment within Stormwater Division budget to increase the % round maintenance account. $ 14,500 Adjustment within Cemetery Division budget to purchase a Stenner chemical pump. $ 990 Transfer from MIS Division budget to the City Clerk budget of audio- visual employee costs. $ 31,249 Adjustment to properly record the equipment traded -in with the purchase of a Backhoe. $ 42,000 Adjustment to MIS Division budget to cover expected shortages in some accounts and to $ 6,585 move funds to the City Clerk in order to purchase audio - visual equipment. Transfers within the City Manager budget for shortages in some accounts. $ 1,300 Transfers within Stormwater Division budget to allow more work on % round maintenance. $ 10,000 Adjustment to close out balances in completed or deferred projects ( Stormwater Master Plan, $ 82,000 City Hall Windows, Mooring Fields and Barber Street Realignment). Transfers within Golf Course budget to allow purchase of ball washers, club cleaners and $ 2,253 spike shoe cleaner. Adjustment to close out balance in the Sidewalk Construction account that is not expected to $ 80,725 be needed this fiscal year. Adjustment to close out balances in the Bleacher Shields and Davis Street Sewer projects. $ 200,000 Transfers within Roads Division budget to cover cost of repairs to the Cat Loader. $ 1,780 Adjustment to close out balances not needed for the Batting Cage /Dugouts project. $ 1,155 Adjustment to provide a part -time cashier in Administrative Services from savings by making $ 7,204 the vacant full -time position in the City Clerk budget a part -time position. Adjustment to provide funds for the Hardee Park Pedestrian Bridge project. $ 14,000 Transfers within City Council budget to give WiFi Access to the Council during meetings. $ 550 Page 1 of 2 Changes Approved by City Council: Adjustment to use extra collections of electric utility taxes to fund an Environmental Specialist $ 25,066 position approved by City Council March 12, 2014. Adjustment to use DST reserves to purchase a Video Retention Server needed for storing $ 11,961 video from the police car cameras approved by City Council May 14, 2014. Adjustment to replace the golf course netting approved by City Council on May 28, 2014. $ 50,126 Adjustment to establish budget accounts for a project to construct parking on Indian River $ 25,000 Drive approved by the City Council on June 11, 2014. Additional Changes Submitted for City Council Approval None. Page 2 of 2 CITY OF SEBASTIAN QUARTERLY FINANCIAL REPORT EXECUTIVE SUMMARY OVERVIEW THE OVERALL STATUS AT THE END OF THE 3RD QUARTER APPEARS NORMAL FOR THIS POINT IN THE YEAR. GENERAL FUND REVENUES, EXPENDITURES AND RESERVES ARE AS EXPECTED. GOLF COURSE OPERATING REVENUES ARE A LITTLE LESS THAN LAST YEAR AT THIS TIME, REVENUES AND EXPENSES AT THE AIRPORT ARE ALSO LESS THAN LAST YEAR AT THIS TIME, DUE TO GRANT ACTIVITY. BUILDING FUND REVENUES ARE SLIGHTLY DOWN AS COMPARED TO THE 3" QUARTER OF LAST YEAR, MOSTLY BECAUSE BUSINESS TAX REVENUES WERE MOVED BACK TO GENERAL FUND. GENERAL FUND The graph below and left compares General Fund Revenues, Expenditures and "total Cash Reserves at the end of the current quarter to the end of the prior fiscal year. Calculated Reserves balances increased, as is normal with the receipt of property tax revenues. The graph below and right compares the 3rd quarter of this year to the 3rd quarter of the prior 2 years. Revenues and amounts Expended are a bit higher than prior years' second quarters. 12.000,000 7,275,399 7,110,685 10,000,000 �6,3Q2013 8,000,000 5,687,549 6,000,000 7,9]3,134 7,222,381 4,000,000 - ! c" ^3. 2.000,000 0 4,000 000 Revenues Ex ded Resewes 91302013 10,218,238 9,750,951 5469,458 16rM0141 7,913,134 1 7,222,361 1 6,160,230 __- 8,000,000 7,275,399 7,110,685 5,267,134 �6,3Q2013 7,000,000 5,687,549 -- 7,9]3,134 7,222,381 6,000,000 - ! c" 5,000,000 , 4,000 000 3,000,000 2,000,000 __- 1,000,000 0 - Revenues Expanded Reserves X67302412 7,275,399 7,110,685 5,267,134 �6,3Q2013 7¢87,129 7,001,751 5,687,549 nbfiD2014 7,9]3,134 7,222,381 6,16q,230 The graph below and left shows collections through the 3rd quarter of the three main sources of General Fund Revenue and of those three as a total, Those three sources and property taxes are 72% of all budgeted revenue. About $210,000 more was received from those three sources in the first nine months as compared to last year, primarily due to unusually high receipts from FP &L. The graph below and right shows the percentage of budgeted expenditures by department at the end of the 3rd quarter. In total, all departments expended 70.3% of amounts budgeted. SPECIAL REVENUE FUNDS AND CAPITAL PROJECTS taa.0% 90.0% ao.0% 70.0% - 60.0% 50.0% - — 40,0% 30,0% e 20.0% 10.0 %' r---- •— '�--- `w -:^�� G° 2P \� 0 ' P,p po+,�e . Special Revenue Funds provide most of the monies needed for capital projects. The graph below and left shows collections through the 3rd quarter of the current year to the 3rd quarter of last year and shows the current annual budget and staffs projection for Local Option Gas Taxes (LOGT), Discretionary Sales Tax (DST) and Stormwater Fees. All projections are close to budget expectations, The graph below and right shows the totals budgeted this year for capital projects, as compared to amounts spent through the end of the 3rd quarter. It reflects the large unexpended amounts for the Presidential Streets, Fish House, Tulip Drive, plus the Airport's Main Street Access Road and Hanger projects, Page ! 0l'2 3,500,000 3,00.060 tL 2,5 00,000 2,000,000 1,500,000 ..s�