HomeMy WebLinkAbout2007 08 27 Regular 601 Supplemental Appropriation From the General Fund
COMMISSION AGENDA
ITEM 601
August 27, 2007
Meeting
CONSENT
INFORMATIONAL
PUBLIC HEARING
REGULAR X
MGR /pt;;tIDEP@
Authorization
REQUEST: The City Manager Requests a Combined Supplemental Appropriation from
the General Fund in the Amount of $229,566 in Order to Complete the 2007 Directives and
Accommodate Current Expenditure Projections.
PURPOSE: The purpose of this agenda item is to request that the City Commission amend
the fiscal year 2006-2007 budget.
CONSIDERATIONS:
The General Fund supplemental appropriation request consists of the following:
9
10
1
2
3
4
5
6
7
8
Legal - Highlands' HOA
Legal- General- under-budgeted
Pension - legal, actuarial, consulting
Legal - Senior Center line of credit
City Clerk Department Overtime
Newsletter - Property Tax Reform
Chambers - update sound system
Transfer to Transportation Impact
Emergency Replacement of City Hall Lobby
Air Conditioning Unit
Survey - Old Sanford Oviedo Rd.
$59,033 1220-53111
$35,000 1220-53111
$61,500 1220-53119
$3,500 1220-53119
$2,000 1210-51214
$10,000 1100-58000-11007
$12,000 1100-64000
$30,533 1900-58125
$11,000 1910-62000
$5,000 4410-53160
$229,566
Regular Agenda Item 60 I
August 27,2007
Page 2 of3
Additional information regarding the supplemental appropriation listed above is included in the
notes below.
1 - Legal General - Current legal expenditures related to the Highlands' HOA (File 315-045) at
$59,033.
2 - Legal General - The current legal budget exclusive of labor and special services is $205,000.
Current projections for this fiscal year are $300,000. As mentioned in note #1, much of this is
related to the Highlands Home Owner's Association litigation. The remaining approximate
$35,000 is consistent with the three previous fiscal years in which an average budget increase of
$36,800 was required for legal expenses. Please note that the fiscal year 2008 Preliminary
Budget reflects a City Manager recommended budget in this line code in the amount of $250,000
which is more consistent with recent years' activity.
3 - Special Legal - Houses costs associated with Pension Plan such as the new third-party
pension consultant (Bogdahn Consulting); alternative normal retirement benefit (30 years with
disability); pension plan document update; 175/185 study; and new investment managers -
contract review.
4 - Special Legal - Attorney fees to restructure line of credit to include the Senior Center
expanSIOn.
5 - Overtime - Additional overtime budget needed because the department is short one
employee.
6 - Newsletter - Expenses related to property tax reform committee of $1 ,000; special newsletter
and printing costs of $4,300; and additional newsletter still to come of $4,700.
7 - Chambers - Commission Chambers' audio system has become obsolete for our purposes.
8 - Transfer - In fiscal years 2004, 2005 and 2006, transportation impact fees of $30,533 were
imposed on mobile homes and erroneously coded to the General Fund. These funds are being
placed in the appropriate fund - Transportation Impact Fees.
9 - No additional information.
10 - Survey is required to ascertain the viability of an alternative access to the Industrial Park on
Old Sanford Oviedo Road as part of the negotiations with 419 Metal Recycling.
If tonight's supplemental appropriation is approved the ESTIMATED 9/30/2007 General Fund
ending balance is $7,669,239. The revised personnel and operating budget would be
$21,102,313. Applying the fund balance fiscal policy test yields a target fund balance of
$5,275,578.
FUNDING:
Appropriation from General Fund Balance in the amount of $229,566 for the ten items listed
above.
RECOMMENDATION:
It is recommended that a combined supplemental appropnatIOn from the General Fund be
approved in the amount of $229,566 in order to complete the 2007 directives and accommodate
current expenditure projections.
082707_ COMM _Regular _601_ General_Fund _Supplemental
Regular Agenda Item 60 I
August 27,2007
Page 3 of3
ATTACHMENTS:
None
COMMISSION ACTION:
082707_ COMM _Regular _ 601_ General_Fund _Supplemental