The FY 17/18 Budget was adopted in September of 2017. As such, the FY17/18 Adopted Budget for both Operating and Capital Improvement Projects Funds related accounts need to be adjusted at the end of the fiscal year.  This type of budget amendment is part of the annual budget process.  The Budget adjustment will increase or decrease the Fund’s total appropriation which requires City Commission approval, see Exhibit A.

The City’s staff has been able to identify revenue sources and unspent appropriations which can be reallocated to other accounts.  Under best budgeting practices and governmental accounting standards, we should re-appropriate these funds to provide the continued spending authority for these accounts.

Accordingly, during FY2017-18 necessary budget modifications have been made in various Operating and Capital Improvement Accounts/Funds (between department/divisions) for which the City Manager is authorize to approve.  Staff is requesting approval for the budget adjustments made at the Fund level in FY2017-18.

• The General Fund will be amended from $93,253,628 to $87,487,222 due to possible cost related to E2L for Town Square Project Development that did not materialized since the City moved to Phase II of the Town Square Project in FY17/18.

• The Traffic Safety Fund will be amended from $1,067,500 to $1,130,500 to provide appropriations for contracts approved in FY17/18.

• The Capital Improvement Fund will be amended for Fund 302 from $1,990,327 to $3,590,327.  This will amend the current appropriations for General Government capital projects due to encumbrances and/or expenditures.

• The Cemetery Fund will be amended from $306,131 to $321,131 to provide appropriations for contracts approved in FY17/18.

The City would continue to follow good and appropriate budgeting practices.

None.