Title:
title
Approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #24-015 in the MSBU Program Fund to transfer $100,000 from reserves for Rice Lake Lake Management Municipal Services Benefit Unit (MSBU) Phase I (capital) restoration services. Countywide (Timothy Jecks, Director of Management & Budget)
end
Division:
division
Management and Budget
body
Authorized By:
Timothy Jecks, Director of Management & Budget
Contact/Phone Number:
Jennifer Stevens/407-665-7174
Background:
The Board adopted Ordinance No. 2023-27 to create Rice Lake Lake Management Municipal Services Benefit Unit (MSBU) during a Public Hearing on November 14, 2023. The initial funding sources for Phase I municipal services include: (a) a one-time County contribution of twenty thousand and 00/100 dollars ($20,000) from the Public Works Department fiscal year 2024 budget, and (b.) a designated cost share to be assigned to the specially benefited properties and levied as a capital improvement assessment financed and payable by installment over a multi-year repayment period through Seminole County Tax Collector via annual property tax bills.
Phase I contracted services will be accommodated through a supplemental contribution of $20k from the Public Works Department FY24 annual budget, and BAR 24-015 will facilitate a fund advance transfer of MSBU Program (Project BU) Reserve-Contingency to Rice Lake PH I MSBU (02418004) project in the amount of $100k where expenditures will be tracked to the capital project.
MSBU Program Fund Reserves are currently budgeted at $1M.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #24-015 in the MSBU Program Fund to transfer $100,000 from reserves for Rice Lake Lake Management Municipal Services Benefit Unit (MSBU) Phase I (capital) restoration services.