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Home My WebLink About2024 08 26 Consent 300 - FY 2023-2024 Mid-Year Budget AmendmentCONSENT AGENDA ITEM 300 CITY COMMISSION AGENDA | AUGUST 26, 2024 REGULAR MEETING TITLE FY 2023 - 2024 Mid - Year Budget Amendment SUMMARY The City Manager is requesting that the City Commission consider approval of Resolution 2024-21 amending the Fiscal Year 2023-2024 Budget. The City Charter provides the Commission may amend the budget by resolution. Only those funds requiring budget adjustments are included therein. The agenda item is needed to amend the budget for those funds which vary from the originally adopted budget. The amendment represents activity through July 31, 2024. A final budget amendment for the fiscal year is anticipated in November. The majority of the amendments are necessary for one of the following reasons: accrual of revenues and expenses in the appropriate fiscal year. variations between budgeted (estimated) and actual revenues and expenditures. unanticipated agenda items with a fiscal/budget impact. Part of the normal course of operations at fiscal year-end is the accrual of revenues and expenses. The accruals are necessary for aligning revenues and expenses with the fiscal period to which they are earned or incurred, respectively. In many areas, it is typical for some variances between budgeted figures and actual results. Furthermore, over the course of a fiscal year, various agenda items approved by Commission may lack specific language to amend the expenditure budget or the appropriation to/from fund balance. This resolution formalizes the fiscal impact of those actions. Shown in attachment 1 and 2 of the Resolution are the budgeted ending fund balances for all funds requiring an amendment for the 2023-2024 fiscal year. Please note these are budgeted figures only. Audited financial statements which depict the official year-end balances will be available upon the conclusion of the FY 2023-2024 annual audit, which is scheduled to be presented in March of 2025. FUNDING SOURCE RECOMMENDATION Staff recommends the City Commission approve Resolution 2024-21 amending the FY 2023- 2024 budget. 26 City of Winter Springs Resolution 2024-21 Page 1 of 2 RESOLUTION 2024-21 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS FLORIDA, AMENDING THE FISCAL YEAR 2023-2024 BUDGET; PROVIDING FOR SEVERABILITY, REPEAL OF PRIOR INCONSISTENT RESOLUTIONS, AND AN EFFECTIVE DATE. WHEREAS, Section 7.05 of the City Charter provides that the annual City budget may be amended by Resolution duly adopted by the Commission; and WHEREAS, the City Commission of the City of Winter Springs deems that this Resolution is in the best interests of the public health, safety, and welfare of the citizens of Winter Springs. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, AS FOLLOWS: Section 1. Incorporation of Recitals. The foregoing recitals are deemed true and correct and are hereby fully incorporated by this reference. Section 2. That the Fiscal Year 2023-2024 City Budgets are amended as provided in Attachments 1 and 2 attached hereto. Section 3. Repeal of Prior Inconsistent Resolutions. All prior resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of the conflict. Section 4. Severability. If any section, subsection, sentence, clause, phrase, word, or portion of this Resolution is for any reason held invalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and such holding shall not affect the validity of the remaining portion hereto. Section 5. Effective Date. This Resolution shall become effective immediately upon adoption by the City Commission of the City of Winter Springs, Florida. RESOLVED by the City Commission of the City of Winter Springs, Florida, in a regular meeting assembled on the 26th day of August, 2024. ATTEST: __________________________________________ KEVIN McCANN, Mayor 27 City of Winter Springs Resolution 2024-21 Page 2 of 2 _____________________________________ CHRISTIAN GOWAN, City Clerk Approved as to legal form and sufficiency for the City of Winter Springs only: _____________________________________ ANTHONY A. GARGANESE, City Attorney 28 Attachment 1 - Budget Amendment Detail Resolution 2024-21 General Fund Funds not included in this summary do not require a budget amendment HELPFUL TOOLS: Fiscal Year 2023-2024 Original Budget as approved by City Commission on 9/25/23 Public Hearing 401. Difference in Beg Fund Bal Projected to Actual Actual Beg Fund Balance UNAUDITED General Fund #001: As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $10,467,193 ($916,022) $9,551,171 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($944,483) 9/30/24 Budgeted Ending Fund Balance $9,522,710 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials ($916,022) Commission Approved: $0 Revenue Neutral: $0 Community Events: Recognize revenue budget - Winter Wonderland $11,800 mid-yr Establish expenditure budget - Winter Wonderland (7415) ($11,800) mid-yr Recognize revenue budget - Hometown Harvest $14,530 mid-yr Establish expenditure budget - Hometown Harvest (7415) ($14,530) mid-yr Recognize revenue budget - Celebration of Freedom $50,150 mid-yr Establish expenditure budget - Celebration of Freedom (7415) ($50,150) mid-yr Recognize revenue budget - Spring Festival $4,500 mid-yr Establish expenditure budget - Spring Festival (7415) ($4,500) mid-yr $0 Other: Increase Accounting/Auditing for Audits; Purvis Gray (1300) ($75,000) mid-yr ($75,000) Revisions to Original Budgeted Appropriation TO (FROM ) Fund Balance ($75,000) REVISED 9/30/24 Budgeted Ending Fund Balance $8,531,688 FY 24 Mid-Year Budget Amendment Attachment 1 29 Attachment 1 - Budget Amendment Detail Resolution 2024-21 Other Governmental Funds Difference in Beg Fund Bal Projected to Actual Actual Beg Fund Balance UNAUDITED Special Law Enforcement Fund - Federal #103 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $131,183 $5,052 $136,235 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($10,940) 9/30/24 Budgeted Ending Fund Balance $120,243 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials $5,052 Increase FY24 emergency operating center ($45,000) mid-yr Recognize trade-in proceeds $27,004 mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Balance ($12,944) REVISED 9/30/24 Budgeted Ending Fund Balance $107,299 Transportation Improvement Fund #120 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $3,841,544 $2,583,277 $6,424,821 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($605,865) 9/30/24 Budgeted Ending Fund Balance $3,235,679 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials $2,583,277 Decrease revenue budget - Winding Hollow Turn Lane - Defer to FY25 ($1,100,000) mid-yr Increase expenditure budget for Winter Springs Boulevard crosswalk ($41,880) mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Balance $1,441,397 REVISED 9/30/24 Budgeted Ending Fund Balance $4,677,076 Road Improvement (Infrastructure Surtax)Fund #121 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $8,358,115 $685,883 $9,043,998 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($6,945,000) 9/30/24 Budgeted Ending Fund Balance $1,413,115 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials $685,883 Decrease Capital budget - Defer to FY25 $6,000,000 mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Balance $6,685,883 REVISED 9/30/24 Budgeted Ending Fund Balance $8,098,998 HELPFUL TOOLS: Fiscal Year 2023-2024 Original Budget as approved by City Commission on 9/25/23 Public Hearing 401. FY 24 Mid-Year Budget Amendment Attachment 1 30 Attachment 1 - Budget Amendment Detail Resolution 2024-21 Other Governmental Funds Difference in Beg Fund Bal Projected to Actual Actual Beg Fund Balance UNAUDITED HELPFUL TOOLS: Fiscal Year 2023-2024 Original Budget as approved by City Commission on 9/25/23 Public Hearing 401. Solid Waste/Recycling Fund #130 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $1,828,804 ($12,546)$1,816,258 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($489,071) 9/30/24 Budgeted Ending Fund Balance $1,339,733 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials ($12,546) Increased expected revenue due to the rate increase $575,000 mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Balance $562,454 REVISED 9/30/24 Budgeted Ending Fund Balance $1,902,187 Arbor Fund #140 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $1,648,280 $424,720 $2,073,000 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($705,886) 9/30/24 Budgeted Ending Fund Balance $942,394 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials $424,720 Increase arbor fine revenue budget $2,700 mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Balance $427,420 REVISED 9/30/24 Budgeted Ending Fund Balance $1,369,814 Transportation Impact Fee Fund #150 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $1,664,966 $595,583 $2,260,549 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($339,000) 9/30/24 Budgeted Ending Fund Balance $1,325,966 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials $595,583 Align impact fees with YTD actuals - Transportation Commercial $26,600 mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Balance $622,183 REVISED 9/30/24 Budgeted Ending Fund Balance $1,948,149 FY 24 Mid-Year Budget Amendment Attachment 1 31 Attachment 1 - Budget Amendment Detail Resolution 2024-21 Other Governmental Funds Difference in Beg Fund Bal Projected to Actual Actual Beg Fund Balance UNAUDITED HELPFUL TOOLS: Fiscal Year 2023-2024 Original Budget as approved by City Commission on 9/25/23 Public Hearing 401. Police Impact Fee Fund #151 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $805,965 $5,173 $811,138 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($305,900) 9/30/24 Budgeted Ending Fund Balance $500,065 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials $5,173 Align impact fee revenue with YTD actuals - Residential $7,700 mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Balance $12,873 REVISED 9/30/24 Budgeted Ending Fund Balance $512,938 Fire Impact Fee Fund #152 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $2,780,584 ($7,714)$2,772,870 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance $80,000 9/30/24 Budgeted Ending Fund Balance $2,860,584 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials ($7,714) Align impact fee revenue with YTD actuals - Residential $4,800 mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Balance ($2,914) REVISED 9/30/24 Budgeted Ending Fund Balance $2,857,670 Park Impact Fee Fund #153 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $634,333 $58,442 $692,775 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($400,000) 9/30/24 Budgeted Ending Fund Balance $234,333 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials $58,442 Align impact fee revenue with YTD actuals - Residential $46,600 mid-yr Defer capital budget to FY25 $381,000 mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Balance $486,042 REVISED 9/30/24 Budgeted Ending Fund Balance $720,375 FY 24 Mid-Year Budget Amendment Attachment 1 32 Attachment 1 - Budget Amendment Detail Resolution 2024-21 Other Governmental Funds Difference in Beg Fund Bal Projected to Actual Actual Beg Fund Balance UNAUDITED HELPFUL TOOLS: Fiscal Year 2023-2024 Original Budget as approved by City Commission on 9/25/23 Public Hearing 401. Oak Forest Maintenance Fund #161 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $98,370 $728 $99,098 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($15,923) 9/30/24 Budgeted Ending Fund Balance $82,447 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials $728 Recognize insurance proceeds budget for wall damage $4,600 mid-yr Increase budget for R&M for wall ($4,600)mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Balance $728 REVISED 9/30/24 Budgeted Ending Fund Balance $83,175 Tuscawilla III Assessment Area Fund #162 Fund Balance 9/30/23 ($31,274) Internal Loan ($36,286) As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $4,830 $182 $5,012 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($2,345) 9/30/24 Budgeted Ending Fund Balance $2,485 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials $182 Decrease debt service budget $577 mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Balance $759 REVISED 9/30/24 Budgeted Ending Fund Balance $3,244 *Due to the distinctive accounting treatment associated with this internal loan, neither proceeds nor principal reductions are booked in the fund, therefore, in the ACFR fund balance a deficit is reflected (see reconciliation upper right) FY 24 Mid-Year Budget Amendment Attachment 1 33 Attachment 1 - Budget Amendment Detail Resolution 2024-21 Enterprise Funds Net Capital, Restricted, NPL Difference in Beg Fund Bal - Projected to Actual Actual Ending Fund Equity UNAUDITED Water & Sewer Operating Fund #410 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $9,044,357 $22,495,771 $2,128,132 $33,668,260 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($4,091,501) 9/30/24 Budgeted Ending Fund Balance $4,952,856 W&S Svc Avail Fund $8,272,779 ACFR combines 410, 412 $41,941,039 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): $2,128,132 Recognize revenues from land sale to Duke $1,040,000 mid-yr Increase funds for purchase of Aquatech truck Agenda 504 02-26-24 ($600,000)mid-yr Increase funds for purchase of disk filter Agenda 500 04-29-25 ($440,000)mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Equity $2,128,132 $7,080,988 Stormwater Utility Fund #411 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $1,300,773 $7,484,416 $224,775 $9,009,964 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($706,775) 9/30/24 Budgeted Ending Fund Balance $593,998 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): $224,775 Decrease budget for capital pipe relining and stormwater infrastructure $192,400 mid-yr 24-3182 Revisions to Original Budgeted Appropriation TO (FROM) Fund Equity $417,175 $1,011,173 Development Services Fund #420 As approved by City Commission on 9/25/23 Public Hearing Item 401: 10/1/23 Budgeted Beginning Fund Balance $4,495,290 $426,385 $243,498 $5,165,173 FY 2024 Budgeted Appropriation TO (FROM ) Fund Balance ($1,549,492) 9/30/24 Budgeted Ending Fund Balance $2,945,798 Amendments to be approved tonight to Original FY 2023-2024 Budget (as approved on 09/25/23): $243,498 Decrease budget for CIP $200,000 mid-yr Revisions to Original Budgeted Appropriation TO (FROM) Fund Equity $443,498 $3,389,296 HELPFUL TOOLS: Fiscal Year 2023-2024 Original Budget as approved by City Commission on 9/25/23 Public Hearing 401. Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials REVISED 9/30/24 Budgeted Ending Fund Balance Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials REVISED 9/30/24 Budgeted Ending Fund Balance Difference in Beginning Fund Balance FROM projected to actual as shown in 9/30/24 Year-End Financials REVISED 9/30/24 Budgeted Ending Fund Balance FY 24 Mid-Year Budget Amendment Attachment 1 34 Attachment 2 - General Fund Budget Amendment Summary Resolution 2024-21 HELPFUL TOOLS: Fiscal Year 2023-2024 Original Budget as approved by City Commission on 9/25/23 Public Hearing 401. FY 24 Other FY 24 Original Revenue Requests Intra Inter Amended Annual Neutral to Amend Departmental Departmental Annual Division #Budget Changes Appropriation Transfers Transfers Budget General Fund Revenues & Transfers:$23,192,639 $23,192,639 Recognize revenue budget - Hometown Harvest 14,530$ 14,530$ Recognize revenue budget - Winter Wonderland 11,800$ 11,800$ Recognize revenue budget - Celebration of Freedom 50,150$ 50,150$ Recognize revenue budget - Spring Festival 4,500$ 4,500$ General Fund Revenues & Transfers 23,192,639$ 80,980$ -$ -$ -$ 23,273,619$ General Fund Expenditures: City Commission 1100 131,214$ 48,000$ 179,214$ City Manager 1200 417,762$ 417,762$ City Clerk 1210 278,633$ (24,000)$ 254,633$ Finance - General 1300 1,002,582$ 37,500$ (12,000)$ 1,028,082$ Finance - Utility Billing 1360 749,841$ 37,500$ 787,341$ Comm Development - Administration 1500 217,858$ 217,858$ Comm Development - Planning 1510 321,205$ 321,205$ Comm Development - Urban Beautification 1520 1,521,654$ (12,000)$ 1,509,654$ Comm Development - Street lighting 1530 564,357$ 564,357$ IS & General Services - Human Resources 1315 316,199$ 5,463$ 321,662$ IS & General Services - General 1600 1,640,964$ 500$ 1,641,464$ IS & General Services - City Hall 1910 10,083$ (1,500)$ 8,583$ IS & General Services - Risk Management 1925 736,300$ 736,300$ IS & General Services - Facilities Maintenance 1935 572,955$ (5,463)$ 567,492$ IS & General Services - Marketing & Events 7415 337,715$ 80,980$ 1,000$ 419,695$ General Government - Legal Services 1400 269,320$ 50,000$ 319,320$ General Government - General 1900 968,979$ (50,000)$ 918,979$ Police - Chief 2100 8,032,342$ 3,060$ 8,035,402$ Police - Criminal Investigations 2110 145,670$ (2,100)$ 143,570$ Police - Community Services 2120 16,435$ (960)$ 15,475$ Police - Operations 2130 301,832$ 301,832$ Police - Support Services 2140 542,840$ 542,840$ Police - Code Enforcement 2150 53,360$ 53,360$ Fire - Operations 2200 -$ -$ Public Works - Fleet 1940 294,534$ 15,000$ 309,534$ Public Works - Administration 4100 166,849$ 4,014$ 170,863$ Public Works - Roads & ROW 4110 1,022,499$ (19,014)$ 1,003,485$ P&R - Administration 7200 204,835$ 204,835$ P&R - Athletics 7220 350$ 350$ P&R - Parks & Grounds 7230 2,760,391$ (6,000)$ 2,754,391$ P&R - Programs 7240 155,936$ (10,500)$ 145,436$ P&R - Seniors 7250 381,628$ 16,500$ 398,128$ P&R - Seniors 7400 -$ -$ General Fund Expenditures 24,137,122$ 80,980$ 75,000$ -$ -$ 24,293,102$ Budgeted Approp TO (FROM) Fund Balance (944,483)$ -$ (75,000)$ -$ -$ (1,019,483)$ FY 24 Mid-Year Budget Amendment Attachment 2 35