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Home My WebLink About2003 11 10 Regular 505 Resolution 2003-45 FY 03-04 Budget Amendment lIIO03_COMM_Regular_505]Y03-04_Budget_Amendmenls Page I of 1 COMMISSION AGENDA ITEM 505 Consent Information Public Hearing Regular X November 10. 2003 Meeting MGR. ;J--- /Dept. REQUEST: City Manager requesting the Commission to adopt Resolution Number 2003-45 amending the FY03 and FY04 Budget. PURPOSE: This agenda item is needed for the Commission to approve minor changes to the FY03 and FY04 Budget related to the timing of expenses being invoiced and revenues being received, and minor variations in estimated to actual expenditures and revenues. CONSIDERATIONS: The City Charter provides that the Commission may make amendments to the city budget by resolution. After the end of the physical period it is normal to receive invoices and revenues differently than anticipated in the fiscal periods and for minor differences to occur between actual expenses and revenues. These occurrences affect budget totals and fund balances. Resolution 2003-45 represents changes known to date. In all likelihood, there will be a few more. RECOMMENDATIONS: It is recommended that the Commission approve Resolution 2003- 45. ATTACHMENTS: 1. Resolution Number 2003-45. 2. Proposed Budget Amendments. COMMISSION ACTION: Summary of Amendments to 2002-2003 and 2003/2004 Budgets FY'03 FY'04 Fund Sal Activity FY'03 Fund Sal Activity FY'04 asa roved Amendment as ap roved Amendment General Fund (001): CDBG #1 - 7232 Final Expenditures $306,906 $116,185 Net effect of Harbco '03 accrual and '02 retainage (Torcaso Pk) $38,911 ($38,911) Final Amended Expenditures $345,817 $77,274 LWCF - 7233 Final Expenditures $0 $400,000 Wincey Purchase $200,000 ($200,000) Final Amended Expenditures $200,000 $200,000 FUND BALANCE - October 1 $4,926,644 $4,926,644 $4,865,782 $4,626,871 APPROP TO (FROM) FUND BALANCE ($510,838) ($694,098 ($455,187) FUND BALANCE - September 30 $4,654,717 $4,415,806 $4,171,684 $4,171,684 Parks Impact Fee Fund (155): Final Revenues $30,000 Parks Impact Fees (actual) $27,500 Final Amended Revenues $57,500 Final Expenditures $200,000 Wincey-c/osing costs, site assessment, appraisal, attorney fees $8,823 Final Amended Expenditures $208,823 2003 Debt Service Fund (206): Final Revenues $9,218,356 Bond Proceeds $54,630 Final Amended Revenues $9,272,986 Final Expenditures $9,420,694 Bond Issuance Costs $34,043 Final Amended Expenditures $9,454,737 Central Winds Expansion Fund (310): Final Expenditures $115,130 $108,825 Net effect of '03 accruals and remaining expenditure budget $75,013 ($75,013) Final Amended Expenditures $190,143 $33,812 Regular? CITY OF WINTER SPRINGS FISCAL YEAR 2002-2003 AND 2003-2004 BUDGET AMENDMENT PARKS AND RECREATION - CDBG #1 GRANT -7232 Account Number Description of Expenditure FY 01/02 Actual Amended Projection FY 02/03 Actual Original FY 02/03 Bud et Amended FY 02103 Budget Adopted FY 03/04 Bud et Amended FY 03/04 Budget Total Payroll $0 $0 $0 $0 $0 $0 $0 Total Operating $0 $0 $0 $0 $0 $0 $0 63000 Improvements $0 $0 $134.500 $0 $0 $0 $0 64000 Equipment-General $0 $0 $0 $0 $0 $56,185 $56,185 65000 Construction in Progress $210,709 $306,906 $0 $306,906 $345,817 $60,000 $21,089 Total Capital $210,709 $306,906 $134,500 $306,906 $345,817 $116,185 $77,274 TOTAL PARKS & RECREATION - CDBG BUDGET $210,709 $306,906 $134,500 $306,906 $345,817 $116,185 $77,274 $148,800 accrued Equipment-General Unallocated $56,185 CIP: T orcaso Pk- Stormwater $21,089 Regular? CITY OF WINTER SPRINGS FISCAL YEAR 2002-2003 AND 2003-2004 BUDGET AMENDMENT PARKS AND RECREATION - LWCF STATE GRANTS -7233 Account Number Amended Projection FY 01/02 FY 02/03 Actual Actual Description of Expenditure Original Adopted Amended FY 02/03 FY 02/03 FY 02103 Bud et Budget Budget Adopted FY 03/04 Budget Amended FY 03/04 Budget Total Payroll $0 $0 $0 $0 $0 $0 $0 Total Operating $0 $0 $0 $0 $0 $0 $0 61000 70006 Land- ROW Wincey $0 $200,000 $0 $0 $200,000 $200,000 $0 63000 70001 Improvements - CW Expansion $0 $0 $200,000 $0 $0 $200,000 $200,000 Total Capital $0 $200,000 $200,000 $0 $200,000 $400,000 $200,000 TOTAL PARKS & RECREATION - LWCF BUDGET $0 $200,000 $200,000 $0 $200,000 $400,000 $200,000 Regular? CITY OF WINTER SPRINGS FISCAL YEAR 2002.2003 AND 2003-2004 BUDGET AMENDMENT PARKS IMPACT FEE FUND REVENUES & EXPENDITURES -155 Account Number Description of Revenues 361100 363290 381100 Interest Earned Other Impact Fees Operating Transfer in from General Fund TOTAL PARKS IMPACT REVENUES 389100 Appropriation from Fund Balance TOTAL PARKS IMPACT REVENUES AND APPROPRIATIONS FROM FUND BALANCE Account Number Description of Expenditures 59130 61000 Operating Transfer to General Fund 70006 Land- ROW Wincey TOTAL PARKS IMPACT EXPENDITURES 59990 Appropriation to Fund Balance TOTAL PARKS IMPACT EXPENDITURES AND APPROPRIATIONS TO FUND BALANCE CHANGE IN FUND BALANCE FUND BALANCE. October 1 APPROPRIATION TO (FROM) FUND BALANCE FUND BALANCE. September 30 Amended Projection Original Adopted Amended Adopted FY 01102 FY 02/03 FY 02/03 FY 02103 FY 02/03 FY 03/04 Actual Actual Budqet BudQet Budget Budqet $0 $300 $0 $0 $0 $1,500 $0 $57,500 $0 $30,000 $57,500 $125,300 $0 $200.000 $0 $200.000 $200.000 $0 $0 $257.800 $0 $230.000 $257.500 $126,800 $0 $0 $0 $0 $0 $0 $0 $257.800 $0 $230.000 $257,500 $126,800 Amended Projection Original Adopted Amended Adopted FY 01/02 FY 02103 FY 02/03 FY 02103 FY 02/03 FY 03/04 Actual Actual Budqet BudQet Budget Budaet $0 $0 $0 $0 $0 $100,000 $0 $208,823 $0 $200,000 $208,823 $0 $0 $208.823 $0 $200.000 $208.823 $100,000 $0 $48.977 $0 $30.000 $48.677 $26,800 $0 $257.800 $0 $230,000 $257.500 $126,800 $0 $0 $0 $0 $0 $30.300 $48,977 $0 $48,977 $0 $30.000 $48.677 $26.800 $26.800 $0 $48,977 $0 $30,000 $48.677 $57.100 $75,777 Regular? CITY OF WINTER SPRINGS FISCAL YEAR 2002.2003 AND 2003.2004 BUDGET AMENDMENT 2003 DEBT SERVICE FUND REVENUES & EXPENDITURES - 206 Account Number 361100 381001 381002 384215 Descriotlon of Revenues Interest Earned Transfer from Public Service Tax Fund Transfer from Electric Franchise Fee Fund Bond Proceeds 389100 TOTAL 2003 DEBT SERVICE FUND REVENUES Appropriation from Fund Balance TOTAL 2003 DEBT SERVICE FUND REVENUES AND APPROPRIATIONS FROM FUND BALANCE Account Number 53130 53411 57110 57210 57310 57350 Descrlotion of Exoenditures Trustee Fees Bank Service Charges Debt Service - Principal Debt Service - Interest Bond Issuance Costs Pymt to Refunded Bond Escrow Agent 59990 TOTAL 2003 DEBT SERVICE FUND EXPENDITURES Appropriation to Fund Balance TOTAL 2003 DEBT SERVICE EXPENDITURES AND APPROPRIATIONS TO FUND BALANCE CHANGE IN FUND BALANCE FUND BALANCE - October 1 APPROPRIATION TO (FROM) FUND BALANCE FUND BALANCE - September 30 Amended Projection Original Adopted Amended Adopted FY 01/02 FY 02/03 FY 02/03 FY 02103 FY02/03 FY 03/04 Actual Actual Budget Budget Budget Budget $119 $1,000 $8,000 $1,000 $1,000 $0 $243,381 $144,806 $250,000 $144.806 $144,806 $212,000 $243,380 $144,806 $250,000 $144.806 $144,806 $212.000 $0 $8,982,374 $0 $8,927,744 $8,982,374 $0 $486,880 $9,272,986 $508,000 $9.218.356 $9,272,986 $424,000 $2,186 $181,251 $0 $202.338 $181,751 $0 $489,066 $9,454,237 $508,000 $9.420.694 $9,454,737 $424,000 Amended Projection Original Adopted Amended Adopted FY 01/02 FY 02/03 FY 02/03 FY 02103 FY 02103 FY 03/04 Actual Actual Budaet Budget Budget Budaet $0 $1,000 $1.500 $1,500 $1,500 $1,000 $334 $0 $0 $0 $0 $0 $45,000 $50,000 $50,000 $50,000 $50,000 $0 $443,732 $441,450 $441,450 $441,450 $441,450 $208,500 $0 $185,500 $0 $151,457 $185,500 $0 $0 $8,776,287 $0 $8.776,287 $8,776,287 $0 $489,066 $9,454,237 $492,950 $9.420.694 $9,454,737 $209,500 $0 $0 $15,050 $0 $0 $214,500 $489.066 $9,454,237 $508,000 $9.420.694 $9,454,737 $424.000 $273,524 $271,338 $265,500 $271.338 $271,338 $69,500 $90,087 /$2,186\ /$181,251\ $15,050 ($202.338) ($181,751) $214.500 $214,500 $271,338 $90,087 $280,550 $69.000 $89,587 $284,000 $304,587 Regular? CITY OF WINTER SPRINGS FISCAL YEAR 2002-2003 AND 2003-2004 BUDGET AMENDMENT CENTRAL WINOS EXPANSION FUND REVENUES & EXPENDITURES - 310 Account Number 361100 384215 Description of Revenues Interest Bond Proceeds 389100 TOTAL CW EXPANSION FUND REVENUES Appropriation from Fund Balance TOTAL CW EXPANSION FUND REVENUES AND APPROPRIATIONS FROM FUND BALANCE Account Number 57310 59215 61000 65000 Description of Expenditures Cost of Issuance Transfer to CW Debt Service - Cap Interest Land 70001 Construction in Progress TOTAL CW EXPANSION FUND EXPENDITURES 59990 Appropriation to Fund Balance TOTAL CW EXPANSION FUND EXPENDITURES AND APPROPRIATIONS TO FUND BALANCE CHANGE IN FUND BALANCE FUND BALANCE. October 1 APPROPRIATION TO (FROM) FUND BALANCE FUND BALANCE - September 30 Amended Projection Original Adopted Amended Adopted Amended FY 01/02 FY 02/03 FY 02/03 FY 02103 FY 02103 FY 03/04 FY 03/04 Actual Actual Budaet Budget Budget Budaet Budget $0 $4.000 $0 $4.000 $4,000 $0 $0 $3,377,178 $0 $0 $0 $0 $0 $0 $3,377,178 $4,000 $0 $4.000 $4,000 $0 $0 $0 $186,143 $201,400 $111.130 $186.143 $108.825 $33.812 $3,377,178 $190,143 $201,400 $115.130 $190,143 $108,825 $33,812 Amended Projection Original Adopted Amended Adopted Amended FY 01/02 FY 02103 FY 02/03 FY 02/03 FY 02103 FY 03/04 FY 03/04 Actual Actual Budaet Budllet Budget Budllet Budget $84,405 $0 $0 $0 $0 $0 $0 $78,900 $0 $0 $0 $0 $0 $0 $2,993,918 $0 $0 $0 $0 $0 $0 $0 $190,143 $201.400 $115,130 $190,143 $108,825 $33,812 $3,157,223 $190,143 $201.400 $115,130 $190,143 $108.825 $33,812 $219,955 $0 $0 $0 $0 $0 $0 $3,377 ,178 $190,143 $201,400 $115.130 $190,143 $108.825 $33,812 $0 $219.955 $201.400 $219.955 $219.955 $108.825 $33.812 $219,955 ($186,143) ($201,400) ($111.130) ($186,143] ($108,825) ($33.812] $219.955 $33,812 $0 $108.825 $33,812 $0 $0 Regular? RESOLUTION NUMBER 2003-45 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, FLORIDA, AMENDING THE FY 03 AND FY 04 BUDGETS. 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 timing of expenses and revenues related to the end of FY 03 and beginning of FY 04, and minor unanticipated expenditures and revenue receipts necessitate minor amendments to the Budget. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, AS FOLLOWS that the FY 03 and FY 04 City Budgets are amended as provided in Exhibit "1" attached hereto. ADOPTED by the City Commission of the City of Winter Sprmgs, Florida, in a regular meeting assembled on the 10th day of November 20Q3." r ,...~. . ,. . ;Z,., ~. ., ATTEST: .-" ,~,,- .. RENZO-LUACES, City Clerk