Item 7A
AGENDA ITEM #7A
NOVEMBER 8, 2004
CITY OF ATLANTIC BEACH
CITY COMMISSION MEETING
STAFF REPORT
AGENDA ITEM: ORDINANCE N0.20-0 TY OF ATLDANTIC BEAOCHRATING
BUDGET FOR THE CI
FLORIDA FOR FISCAL YEAR BEGINNING OCTOBER 1,
2003 AND ENDING SEPTEMBER 30, 2004.
SUBMITTED BY: Nelson Van Liere
Finance Director
DATE: October 28, 2004
BACKGROUND: At the close of each fiscal year, the city will make minor
adjustments to budgetary accounts to fund small variances. The
entries relating to thce theefirstereading oftth o d nan etbased onds
have been added sin
final cost analysis. The ordinance proposed accomplishes the
following:
Police Pension Fund- Revenue budget is increased to account for
the $25,190 of Casualty Insurance Premium funds received in
excess of budget. The expenditure budget is being increased to
fund the final professional services expenditures of the year related
to investment management fees, actuarial and legal fees.
1996 Utility Revenue Bond Construction Fund -This budget is
being increased to allow the City to charge capital expenditures
that were originally btion Fund sohthat we may close thet fundfunds
to the Bond Construc
before year-end. This was already anticipated in the preparation of
the fiscal year OS Operating Budget.
Water, Sewer and Storm Water Utility Funds -The debt
service on the 1996 utility revenue bonds is being reallocated to
reflect the close-out of final expenses to the bond construction fund
in Fiscal Year 2004.
Debt Service Fund -The budget is being increased by $6 for
higher than expected interest expense.
Half Cent Sales Tax Fund -This budget modification transfers
the $5,000 previously received into this fund from a donation for
AGENDA ITEM #7A
NOVEMBER 8, 2004
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the Skateboard Park to the Convention Development Tax Fund
'"° where the project has now been budgeted.
Byrne Grant Fund -The budget is being modified to allow the
transfer of excess matching -funds to be returned to the General
fund.
Local Law Enforcement Block Grant Fund - To create a budget
for interest earned.
Sanitation Fund - To increase the contract services budget for the
pick-up and hauling of waste that is in excess of the budgeted
estimate.
General Fund - To create a budget for the return of the Byrne
~,,, Grant matching funds not needed.
BUDGET: Miscellaneous adjustments to the fiscal year 2004 Operating
~,,,, Budget
RECOMMENDATION: Approve Ordinance No. 20-04-68 on final reading
ATTACHMENTS: Ordinance No. 20-04-68
REVIEWED BY CITY MANAGER:
~.
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AGENDA ITEM #7A
NOVEMBER 8, 2004
ORDINANCE NO. 20-04-68
AN ORDINANCE AMENDING THE OPERATING BUDGET FOR THE CITY
OF ATLANTIC BEACH, FLORIDA FOR FISCAL YEAR BEGINNING
OCTOBER 1, 2003 AND ENDING SEPTEMBER 30, 2004.
WHEREAS, the City Charter of the City of Atlantic Beach requires that the City
Commission approve all budgetary increases and transfers at the fund level, and
WHEREAS, it is necessary for the City to make final modifications to the budget within
a short period of time after fiscal year end to adjust for small variances arising in the final period
of the year.
NOW, THEREFORE, BE IT ENACTED BY THE CITY COMMISSION ON
BEHALF OF THE PEOPLE OF THE CITY OF ATLANTIC BEACH, FLORIDA, that;
1. The Fiscal Year 2003/2004 Final Budget be amended as follows:
Police Pension Fund
Revenues:
Casualty Insurance Premium Tax 185 $25,190
Expenses:
Operating Expenses
Professional Services ' ~ $20,000
Change in Fund Balance: $5,190
1996 Utility Revenue Bond Construction Fund
Expenses:
Capital Outlay:
Infrastructure Improvements $242,430
Change in Fund Balance: <$242,430>
Water Utility Fund
Expenses:
Debt Service
Principal 37,539
Interest 85,560
Change in Fund Balance: <$123,099>
AGENDA ITEM #7A
NOVEMBER 8, 2004
Sewer Utility Fund
Expenses:
Debt Service
Principal
Interest
Change in Fund Balance:
Storm Water Utility Fund
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Expenses:
Debt Service
Principal
Interest
Change in Fund Balance:
Debt Service Fund
Expenses:
Debt Service -Interest Expense
Change in Fund Balance:
Half-Cent Sales Tax Fund
Expenses:
Transfer to Convention development Tax Fund
Change in Fund Balance:
Convention Development Tax Fund
Revenues:
Transfer from Half-Cent Sales Tax Fund
Change in Fund Balance:
Police Grant Fund-Byrne -Grant
Expenses:
Transfer to General Fund
Change in Fund Balance:
<4, 510>
<10,281>
14,791
<33,028>
<75,280>
$108,308
$6
<$6>
$5,000
<$5,000>
$5,000
$5,000
$103
<$103>
AGENDA 1T~M #7A
NOVRM1iDR 8, 2004
Police Grant Fund-Local Law Enforcement Block Grant
Revenue:
Interest Earned $108
Change in Fund Balance: $108
Sanitation Fund
Expenses:
Operating Expenses -Contract Hauling $30,000
Change in Fund Balance: <$30,000>
General Fund
Revenues:
Transfer from Police Grant Fund - Byme Grant $103
Change in Fund Balance: $103
Z. This ordinance shall take effect immediately upon its adoption.
Passed by the City Commission on first reading this 25th day of October 2004.
Passed by the City Commission on second and final reading this day of November 2004
John S. Meserve
Mayor /Presiding Officer
Approved as to form and correctness: ATTEST:
Alan C. Jensen, Esquire
City Attorney
Donna Bussey
City Clerk