Ocala - File #: BR-2024-129

Date	Action By	Motion	Result	Action Details	Meeting Details	Video
4/16/2024	City Council	Adopted	Pass	Action details	Meeting details	Video

Submitted By: Cindy Krepps

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Presentation By: Tammi Haslam

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Department: Budget

STAFF RECOMMENDATION (Motion Ready):

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Adopt Budget Resolution 2024-129 amending the Fiscal Year 2023-24 budget to provide a supplemental appropriation to reconcile cash balance forward accounts and for the continuation of projects not completed in Fiscal Year 2022-23 in the amount of $122,933,979

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OCALA’S RELEVANT STRATEGIC GOALS:

Fiscally Sustainable

PROOF OF PUBLICATION:

N/A

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BACKGROUND:

At the end of Fiscal Year 2022-23, the City had outstanding purchase orders for goods and services for which vendor invoices had not yet been received. Under existing accounting procedures, these purchase orders were carried forward into the current fiscal year.

Departments requested re-appropriation of unencumbered funds for specific projects in various stages of completion at the end of Fiscal Year 2022-23, including capital improvement projects.

Budgeted Fiscal Year 2023-24 cash balance forward accounts must be reconciled to ending Fiscal Year 2022-23 balances with the closing of the prior fiscal year.

FINDINGS AND CONCLUSIONS:

At the end of Fiscal Year 2022-23, departments were in various stages of completion for planned capital improvements and approved contractual relationships. A line-by-line detail is attached as an exhibit. The carry forward of funds will allow for the continuation of these projects.

FISCAL IMPACT:

$122,933,979 is available and requested for re-appropriation from Fiscal Year 2022-23 to Fiscal Year 2023-24 to complete projects that were budgeted in the prior fiscal year; to support new areas that have evolved since the budget was adopted; and to reconcile cash balance forward accounts for all funds.

PROCUREMENT REVIEW:

N/A

LEGAL REVIEW:

N/A

ALTERNATIVE:

None.

BUDGET RESOLUTION 2024-129

A Resolution amending the Fiscal Year 2023-24 budget to provide a supplemental appropriation to reconcile cash balance forward accounts and for the continuation of projects not completed in Fiscal Year 2022-23 in the amount of $122,933,979

WHEREAS, on September 30, 2023, outstanding purchase orders for goods and services for which vendor invoices had not been received could not be expensed, necessitating a carryover of previously approved and adopted appropriations to the current budget; and

WHEREAS, requests to re-appropriate funds to cover specific projects originally budgeted, but not encumbered in Fiscal Year 2022-23, into the current budget have been reviewed by city management; and

WHEREAS, budgeted cash balance forward accounts must be reconciled to actual Fiscal Year 2022-23 ending balances; and

WHEREAS, funds are available to support this supplemental appropriation; and

WHEREAS, the attached exhibit describes the requested amendments in detail.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OCALA, FLORIDA, duly assembled in regular session, that the Fiscal Year 2023-24 budget be amended providing for this supplemental appropriation, as summarized herein.

FISCAL YEAR 2023-24 SUPPLEMENTAL APPROPRIATION SUMMARY

	FY2023-2024		FY2023-2024
Budget Recap	Current	Supplemental	Amended
All Funds	Budget	Appropriation	Budget
GENERAL FUND	160,085,418	16,182,202	176,267,620
3/4 MILL ROAD IMPROVEMENTS	8,666,360	2,014,913	10,681,273
FIRE/POLICE IMPROVEMENTS	3,440,855	1,389,054	4,829,909
PARKING FUND	308,906	75,251	384,157
FIRE IMPACT FEES	964,763	1,102,970	2,067,733
1/8 MILL NEIGHBORHOOD ENHANCEMENTS	1,412,136	1,268,898	2,681,034
LOCAL GASOLINE TAX	6,270,005	2,450,953	8,720,958
DOWNTOWN DEVELOPMENT	339,474	129,161	468,635
INFRASTRUCTURE SALES SURTAX	28,666,913	13,548,008	42,214,921
STORMWATER UTILITY	17,206,484	4,255,917	21,462,401
CAP IMP CERT SKG-2007A/2015	3,703,945	0	3,703,945
REV BD (BANK LOAN) SERIES 2	9,094,270	2,713,941	11,808,211
DEBT SVC SINKING FUND-WTR & SWR	12,388,746	-891,216	11,497,530
DEBT SVC SINKING FUND-ELECTRIC	8,014,614	-630,899	7,383,715
WATER & SEWER CONSTRUCTION FUND	5,913,083	10,972,667	16,885,750
ELECTRIC CONSTRUCTION FUND	16,040,540	12,004,318	28,044,858
OCALA INTERNATIONAL AIRPORT	3,554,367	904,591	4,458,958
GOLF	2,033,598	417,979	2,451,577
SANITATION	20,052,370	6,689,981	26,742,351
WATER RESOURCES FUND	52,351,622	8,422,493	60,774,115
ELECTRIC	209,779,803	12,539,326	222,319,129
OCALA FIBER NETWORK	11,192,775	5,613,249	16,806,024
POLICE TRUST AND AGENCY	686,406	241,678	928,084
WTR SYST DEV CHGS CAPITAL TRUST	1,272,420	2,504,527	3,776,947
SWR SYST DEV CHGS CAPITAL TRUST	7,497,544	7,324,466	14,822,010
EAST OCALA REDEVELOPMENT SUBAREA	2,020,357	921,939	2,942,296
DOWNTOWN REDEVELOPMENT SUBAREA	1,030,772	1,858,276	2,889,048
NORTH MAGNOLIA REDEVEOP. SUBAREA	812,748	1,329,845	2,142,593
WEST OCALA REDEVELOPMENT SUBAREA	2,840,134	1,154,632	3,994,766
DISABILITY INCOME REPLACE. SELF-INSUR	65,052	374	65,426
EMPLOYEES' CONSOLIDATED HEALTH INSUR	22,179,744	1,759,181	23,938,925
GENERAL EMPLOYEES' RETIREMENT	182,795,576	1,795,275	184,590,851
FIREFIGHTERS' RETIREMENT	91,480,904	-1,536,050	89,944,854
POLICE OFFICERS' RETIREMENT	87,484,380	2,632,920	90,117,300
ELECTRIC SYSTEM R & R	2,936,724	31,376	2,968,100
WATER & SEWER SYSTEM R & R	1,681,755	217,707	1,899,462
ECONOMIC INVESTMENT PROGRAM	1,328,337	1,524,076	2,852,413
TOTALS	987,593,900	122,933,979	1,110,527,879

This resolution adopted this ______ day of ______________________, 2024.

ATTEST: CITY OF OCALA

By: By:

Angel B. Jacobs Barry Mansfield

City Clerk President, Ocala City Council

Approved as to form and legality:

By: _________________________________

William E. Sexton

City Attorney

Reviewed for accounting accuracy & completeness:

By: _________________________________

Peter A. Lee

City Manager

Legislation Details