Title:
title
Approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #26-039 in the Solid Waste Fund to transfer $1,000,000 from reserves to increase budget for recycling processing. Countywide (Timothy Jecks, Management & Budget Director) Requesting Department- Environmental Services
end
Division:
division
Management and Budget
body
Authorized By:
Timothy Jecks, Management & Budget Director
Contact/Phone Number:
Wendy Aviles/407-665-7182
Background:
The recycling commodity market, which is the value of recyclable materials, can vary greatly from year to year (and month to month). The current year's Solid Waste budget line for processing of recyclable materials is $1,000,000 and was set based on recent annual costs. The Department has expended the full budget and projects to need an additional $1,000,000 to cover the remainder of the fiscal year ($2M total). The net cost of transporting and processing of recyclable materials, is the processing and transportation fee minus Solid Waste's commodity revenue share.
Recycling commodity values have been significantly lower this year than in recent years and because of this, the actual cost of processing is much higher than projected. Staff is requesting an additional $1,000,000 from Solid Waste reserves in order to pay the remainder of invoices anticipated for the current fiscal year. Next fiscal year has taken into account the change in market averages.
Solid Waste Reserves are currently budgeted at $13.7 million.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #26-039 in the Solid Waste Fund to transfer $1,000,000 from reserves to increase budget for recycling processing