Title:
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Approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #25-063 in various Countywide Funds in the amount of $8,900,913.07 for Fiscal Year 2024/25 year end budget adjustments. 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:
Wendy Aviles/407-665-7182
Background:
Per Florida Statute requirements, the final budget amendment should be approved within 60 days of the end of the fiscal year. The attached BAR totals $8.9M, with primary revenue adjustments including: $1.5M for new Tourism Improvement District (TID) funds collected; $6.7M for PFAS Settlement reimbursement; and $167K in interfund transfers required to close out the fiscal year.
Expenditure adjustments include $6.7M to budget PFAS Settlement into a Special Revenue fund; $0.9M in interest expense recorded from the recent Water & Sewer Bond Refunding (with net savings to the W&S system); and $1.5M in TID fund reserves. See attached report for details on all adjustments of this amendment.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #25-063 in various County Funds in the amount of $8,900,913.07 for the Fiscal Year 2024/25 year end budget adjustments.