Broward County Commission Public Hearing 9. Meeting Date: 03/08/2016

Transcription

1 Broward County Commission Public Hearing 9. Meeting : 03/08/2016 Director's Name: Kayla Olsen Department: Management & Budget Submitted By: Management & Budget Requested Action MOTION TO ADOPT supplemental budget Resolutions within the Debt Service Funds in the amount of 5,631,880 to adjust fund balances and other budgeted revenues and appropriate funds to reserves and other commitments. Why Action is Necessary Supplemental budgets are required whenever existing revenue sources, such as fund balance, are increased or decreased and the change results in an increase in the bottom line of the fund. What Action Accomplishes The primary purpose of this supplemental budget is to recognize the difference between the preliminary fund balance and the current budgeted fund balance of each fund. Is this Action Goal Related Previous Action Taken None. Summary Explanation/Background Staff presents three supplemental budgets per year to the Board. This item, which is the second supplemental budget, is primarily for the purpose of reconciling the fund balances. In general, additional fund balance is appropriated to the reserve or debt service commitments Loan Pool Bonds (2340) - 7,880 - Budgeted fund balance and reserve are adjusted. 1996/2006 Arena Bonds (2360) - 603,000 - Budgeted fund balance is adjusted and funds are transferred to the 2005 Loan Pool Fund to cover other debt service costs (10,000). The remaining funds are reserved per the bond covenants (593,000). 2001A General Obligation Bonds (2400) - 50,000 - Budgeted fund balance and reserve are adjusted.

2 2005 Loan Pool Bonds (2411) - 10,000 - Funds are transferred from the 1996/2006 Arena Bonds to cover other debt service costs Loan Pool Bonds (2412) - 3,400,000 - Funds are transferred from the Fire Protection Fund to retire the loan in Fiscal Year Parks & Land Preservation General Obligation Bonds (2430) - 61,000 - Budgeted fund balance and reserve are adjusted Loan Pool Bonds (2450) - 1,500,000 - Funds are transferred from the General Fund to retire the loan in Fiscal Year Courthouse Bonds (2500) Budgeted fund balance is adjusted <2,000> and funds are transferred from the General Fund (2,000) to offset the adjustment to fund balance. Source of Additional Information Kayla Olsen, Director, Office of Management and Budget, (954) Fiscal Impact Fiscal Impact/Cost Summary: The fiscal impact of the amendments is described above. Attachments Exhibit 1-2nd Supplemental Debt Service (8)

3 Resolution LOAN POOL (2340) Fund Balance 7,880 7, Reserve for Debt Service 7,880 7,880 ff e of Management and Budget 2 - /IP-/b ADOPTED THIS _-----'8=--~ day of --'-M-'<--a_L_d-, A. D., 20 1/"". \\\,\,"111''''111/ ",,\ COM ki / II,,~ ~',,~... 8 ~ ~ ~., " " ~J' ~... ~~ ""1;"'." '. " 0 ~....::>... CREAP-O \-z,; 0.- c,_ -.'" Oc m- -'0... :> ocr 'z. 1 Q'AI- ;... ~ 915 ct....: CI) ~ = u.;0 T T t : =., Of ~..... ":0,'ra.A;' ~ ~ COUN'f{ "... ~ ~,... *,,,.;:: J; '1,,\' '" 'III'UII"'\\\,\ SupplementaI/DS supp2-MM

4 Resolution /2006 CIVIC ARENA REFUNDING BONDS (2360) Fund Balance 603, , TT Loan Pool Other Restricted Reserves 10, , ,000 Approved Office 6 ~ ADOPTED THIS 0-=--- day of...;... tv{ _ Y.-_L_0.--, A.D., 20 JL.. \ \""1111,,, I I, \\ M 'f, " " C 0 JfIJ I I,~ ~'-{....s {'\,.~ ~".. ' '. "'/ ':. ~~.' ". O~.:'~.. ~ ':;:' / CREATED \ "f, ~ -0 'txl = 0 ' rn- :\J:O c tai : ~. ~ 1915 _~ : CI) ~,.. : ~ CT 1 st q::... = '.~ q,::: ~.. ~o ~v.' ~ ~ ", coun"{'{ " ~ ~... ~, *...1'1 I",,\:<." """ Uti "" \\ SupplementaI/OS supp2-MM A _,

5 Resolution A LIBRARY GENERAL OBLIGATION BONDS DEBT SERVICE (2400) Fund Balance 50,000 50, Reserve for Debt Service 50,000 50,000 mlnistrator f Management and Budget Q~ ADOPTED THIS _--1.[ day of _M_ -=-CL_l}--_{!;_L, A. D., 20 lit,. Supplemental/DS ~2400supp2-MM

6 Resolution LOAN POOL DEBT SERVICE (2411) TF 2360 Arena Bonds 10,000 10, Other Debt Service Costs 10,000 10,000 I rator ADOPTED THIS --'g::...- ;\c day of ~L~, A.D., 20 I L,. ~ '" " \ \"".", If'" 'I \\\ M II ~' " " ~ C., 0 IIIJ, I ls'.n. "'~... ~~ ~,,' " ","',;..." 0" :;,... CREATED \ 't-~ -0 Cl:J m- ~ u;;o OCT 1st oct: : -,0 1 Q ' AJ- ~ '.~ 915 ~~.. :,.,. 2 ~ Y.t'I "'''... ~ '.yra : ~...,v,., ~,... -:. " '-OUN1't "(':-... ~ 4f;t" '" ~ *,"" ~ 1111 \\" /II"''''''l\\\\\ SupplementaIIDS supp2-mm

7 Resolution LOAN POOL (2412) TF 0440 Fire Protection 3,400,000 3,400, Principal Other Debt Service Costs 3,275, ,000 3,400,000.. rator 3 ~ll(o ADOPTED THIS -=-~_-u... day of \hlq~c..l-, AD., 20 J 4>. SupplementaIlDS supp2-MM

8 Resolution PARKS AND LAND PRESERVATION GENERAL OBLIGATION BONDS (2430) Fund Balance 61,000 61, Reserve for Debt Service 61,000 61,000 G-tt. ADOPTED THIS...>=:: 0,---_ day of ---,- tua- _,,--_<!.-_k.-, A.D., 20 I ~. \ \\\\," liiii"iii '!'t." " C 0 M 1Ii1/.," f~ ~ :0." ~ '''1 "'.1.,..., "" ~ ~ ~.- ", '. I~'.; ~ ~~ ' "0 0 ~ ~ ~.. CR~A'r"""" " --t. ~ = O:llJ -... ~.. :..J : m:', =,-,"0 c ~- :.. ~ 1915 <: rjt)::7,,, '. -,..6 q:' -~....~ra «V : ~ ~ coun~./ ' ~... ~ = " :;%J OCT 1 st <{: 'o = * "'of.'1"1 \,\ ~", 111" "tel"\\\\ SupplementaIIDS supp2-MM

9 Resolution Loan Pool (2450) Transfer from General Fund (0010) 1,500,000 1,500, Principal Other Debt Service Costs 1,385, ,000 1,500,000 Appr 31~\ )6 ).. - ) Ih ADOPTED THIS.-LD..J- day of _\f\jo. ~_t\., ~~=----_, A.D., 20 1 ~. ~~ SupplementaI/DS supp2-MM

10 SupplementaI/DS supp2-MM LL-r? f) I I Resolution COURTHOUSE BONDS (2500) TF 0010 General Fund Fund Balance 2,000 (2,000) ~~ \. \r. ADOPTED THIS ---"".D~ day of u'-'\.u-'-..c..- L, AD., 20 lb.