Title:
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BAR 25-035; Approve and authorize the Chairman to execute the FY 2024/25 Midyear Budget Amendment Resolution (BAR) in the amount of $75,406,019.93 to appropriate revenues in the recently approved 2024 Infrastructure Sales Tax Fund; and to adjust FY25 countywide beginning fund balances to match FY24 audited ending fund balances; and approve 6.0 new Code Enforcement FTEs being transferred from the Seminole County Sheriff’s Office. Countywide (Timothy Jecks, Management & 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:
As part of the County's annual financial management process, a midyear budget amendment is submitted to true-up the beginning fund balance figures to match the final ending fund balances from the prior year.
FUND BALANCE ADJUSTMENTS ($39.7M):
The primary purpose of this amendment is to increase current FY25 Countywide Beginning Fund Balances to match the audited ending fund balances from the prior FY24. The funds with the largest adjustments include the Fire Fund ($6.5M), the Solid Waste Funds ($6.5M), the Water & Sewer Funds ($7.1M), and the Five Points Bond Fund ($3.3M). The adjustment to the General Fund is $0.9M. The primary cause for these positive adjustments includes Countywide interest revenue actuals being higher than budgeted; personnel vacancy lapse of 3.8%; and the closeout of projects on the FY25 Carryforward BAR.
2024 INFRASTRUCTURE SALES TAX REVENUES ($32M):
Appropriate revenues for the recently approved 4th Generation Infrastructure Sales Tax fund. This amount reflects the estimated collections for the 9 months starting January 1, 2025 through September 30, 2025. All 2014 Infrastructure Sales Tax revenues are being budgeted in fund reserves on this amendment.
CODE ENFORCEMENT FTE’S TRANSFERRED FROM SHERIFF (6.0)
Requesting Board approval to add 6.0 FTEs for transfer of the Code Enforcement Program from the Seminole County Sheriff to the Board of County Commissioners. These positions are being budgeted at $1 each to reflect the cost neutral impact of the Program moving between the two agencies, which are both paid through the County’s General Fund. The approval of these FTEs is governed by the County’s Budget Policy in the Administrative Code Section 22.5, which requires that the addition of permanent positions be approved by the Board. It is anticipated that the Sheriff’s Office will reflect the reduction of these FTEs in their FY26 Budget Request.
RESERVE ADJUSTMENTS:
This amendment will increase countywide reserves by $71.3M, including $32M in the 2014 Infrastructure Sales Tax Fund and $39M in other Countywide Funds.
OTHER MIDYEAR ADJUSTMENTS:
This amendment includes $676K in interfund transfers; $111K in adjustments to grant agreements; $2.9M in anticipated FEMA revenues; and $3.8M for debris cleanup from Hurricane Milton and the recent Tornados impacting the County.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute the FY 2024/25 Midyear Budget Amendment Resolution (BAR) in the amount of $75,406,019.93 to appropriate revenues in the recently approved 2024 Infrastructure Sales Tax Fund; and to adjust FY25 countywide beginning fund balances to match FY24 audited ending fund balances; and approve 6.0 new Code Enforcement FTEs being transferred from the Seminole County Sheriff’s Office.