Submitted By: Holly Lang, Fiscal Manager
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Presentation By: Matt Leibfried
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Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
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Adopt Budget Resolution 2025-105 amending the Fiscal Year 2024-25 budget to transfer building-related expenses and revenues from the General Fund to the newly created Building Fund totaling $4,836,433
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OCALA'S RELEVANT STRATEGIC GOALS:
Operational Excellence, Fiscally Sustainable
PROOF OF PUBLICATION:
N/A
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BACKGROUND: Florida Statute Section 553.80 states that a local government must use recognized management, accounting, and oversight practices to ensure that building expenses and revenue generated from fees are maintained, allocated, and used solely to enforce the Florida Building Code.
FINDINGS AND CONCLUSIONS: Building expenses and revenues have resided in the City's General Fund. Establishing a new fund (115) will segregate the building-related expenses and revenues from other funding for better tracking.
FISCAL IMPACT: All Building Fund expenses will be moved to account string 115-016-061-524*; revenue to various revenue account strings beginning with 115; and reserves to account string 115-099-999-524-81-99999.
PROCUREMENT REVIEW: N/A
LEGAL REVIEW: N/A
ALTERNATIVE:
* Adopt with changes
* Table
* Deny
BUDGET RESOLUTION 2025-105
A RESOLUTION AMENDING THE FISCAL YEAR 2024-25 BUDGET TO TRANSFER BUILDING-RELATED EXPENSES AND REVENUES FROM THE GENERAL FUND TO THE NEWLY CREATED BUILDING FUND TOTALING $4,836,433
WHEREAS, Florida Statute Section 553.80 states that a local government must use recognized management, accounting, and oversight practices to ensure that building expenses and revenue generated from fees are maintained, allocated, and used solely for the purpose of enforcing the Florida Building Code; and
WHEREAS, building-related expenses and revenues have resided in the City's General Fund; and
WHEREAS, establishing a new fund will segregate building-rela...
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