Title:
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FY 2024/25 Grant and Project Carryforward Budget Amendment Resolution - Approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #25-016 in the amount of $548,126,662.38 to carryforward available balances for existing projects, grants, associated revenues, and restricted FY2024/25 Beginning Fund Balances. Countywide (Timothy Jecks, Management and Budget Director)
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Division:
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Management and Budget
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Authorized By:
Timothy Jecks, Management & Budget Director
Contact/Phone Number:
Sara Carrick/407-665-7180
Background:
It is County policy to fully fund projects and grants based on the completion of a scope or contract, which may cross over multiple fiscal years. This requires that the available year-end project balances and assigned fund balances be re-budgeted in the new year to allow for work to continue. In FY24, there were a total of 896 grant and project-related budgets approved by the Board, of which 291 were completed and 605 are active and being carried forward. A total of $90.7M is being carried forward related to Grants Revenues; $442.3M is being carried forward for Capital Projects, Fleet, Facilities, Technology, and Equipment; and $15.1M is being returned to Reserves. See attached reports for more details.
GRANT CARRYFORWARD:
The FY25 amended budget includes 93 grants totaling $90.7M within various county grant funds.
PROJECT CARRYFORWARD:
Infrastructure Sales Tax Program ($181M)
The FY25 Carryforward Amendment includes 143 projects totaling $181.2M within the County Infrastructure Sales Tax Funds. Significant projects being carried forward include $32.5M for New Oxford Rd Widening, $21.2M for Orange Blvd (CR431) Safety Improvements $12M for Midway Drainage Improvements, and $10.9M for North St Corridor Improvements.
Water Utilities & Environmental Services Projects ($97M)
The FY25 Carryforward Amendment includes 130 projects totaling $96.6M in Water & Sewer Utility and Solid Waste Funds. Significant projects being carried forward include $9M for Septic to Sewer Improvements; $6.1M for Oxford Rd Utilities; $6M for Orange Blvd Utility; $5.4M for Greenwood Lakes Water Reclaimed Facility and $4M for Highland Pines Utility Upgrade.
Five Points Development Bond Fund ($87M)
The FY25 Carryforward Amendment includes $88.6M in bond funds for issued for the court phase of the Five Points Development Other projects that will carryforward includes $88.6M in Five Points
Fire Department Projects ($42M)
The FY25 Carryforward Budget includes 57 projects totaling $41.9M budget carryforward to $41.9M. Major projects include $9.4M for Fire Station 23 relocation; $8M for Fire Station 25 servicing Casselberry, and $4.5M for Fire Station 39 relocation serving Sanford/Lake Mary. Supply chain issues have led to a $12.7M fleet carryforward for Fire Engines, Rescues, Towers, and light fleet.
Other Projects ($34M)
The FY25 Carryforward Budget includes $24.5M in restricted funded projects in the Building Fund, E-911 Fund, MSBUs, Attainable Housing Trust Fund, and Self Insurance Funds. that will carryforward includes $88.6M in Five Points Development projects; 33.9M in other general funded projects related to Parks & Recreation and governmental services.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #25-016 in the amount of $548,126,662.38 to carryforward available balances for existing projects, grants, associated revenues, and restricted FY2024/25 Beginning Fund Balances.