Title
MOTION TO PASS PROPOSED ORDINANCE NO. 2024-24 ON SECOND AND FINAL READING.
PROPOSED ORDINANCE NO. 2024-24 IS AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF PEMBROKE PINES, FLORIDA, AMENDING ORDINANCE NO. 2007; PROVIDING FOR AN AMENDED BUDGET FOR FISCAL YEAR 2023-2024 FOR THE CITY; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. Section 166.241, F.S. requires municipalities to do a budget amendment within 60 days after the end of the fiscal year if the total appropriations of the funds have changed, unless the municipality's charter directs otherwise.
2. We are therefore, submitting for review and approval, a number of budget adjustments that revised the 2023-2024 budget adopted by Ordinance 2007 on September 20, 2023.
3. The intent of the amendment is to formalize the changes that have been made during the fiscal year. These typically consist of encumbered and unspent appropriations from the prior year, as authorized by Section 5.07 of the City’s Charter, as well as amendments previously approved by Commission.
Major Changes include:
a. General Fund - $27.3 million; mainly $27.0 million for carryovers from the previous year.
b. Road & Bridge Fund - $7.6 million; $6.6 million related to carryovers from the previous year and $995K for traffic signal installation.
c. Florida Housing Finance Corporation (FHFC) Grants [State Housing Initiative Partnership (SHIP)/ Coronavirus Relief Fund (CRF)] - $3.8 million; $2.4 million of carryovers from the previous year, $1.3 million in Local Housing Assistance Program and the remainder in SHIP Recaptured Income/Interest.
d. Housing and Urban Development (HUD) Grants [Community Development Block Grant (CDBG)/HOME Investment Partnerships Program (HOME)] - $4.0 million; mainly $4.1 million for carryovers from the previous year and the balance for other adjustments including CDBG/NSP Recaptured Income.
e. Florida Department of Law Enforcement (FDLE) Confiscated - $1.1 million for carryovers from the previous year.
f. Municipal Construction Fund - $1.6 million; of which $1.5 million is for carryovers from the previous year, $450K for traffic signal installation offset by $360K of carryover adjustment.
g. Utility Fund - $21.3 million for carryovers from the previous year.
4. Since the first reading of Proposed Ordinance 2024-24 on October 16, 2024, the 2023-2024 budget grew by $1.1 million since actual revenues and expenses exceeded the adopted budget. The amended budget shown in Exhibit “A” to Proposed Ordinance 2024-24 (Revised), includes these changes
5. We recommend passing Proposed Ordinance 2024-24 on second reading to amend the budget for the fiscal year ending September 30, 2024.
Financial Impact
FINANCIAL IMPACT DETAIL:
a) Initial Cost: Per Exhibit A (Revised) - The Total Amended Budgeted Revenues and Expenditures for Fiscal Year 2023-2024 for All Funds is $589,041,055.
b) Amount budgeted for this item in Account No: Not Applicable
c) Source of funding for difference, if not fully budgeted: Not Applicable
d) 5 year projection of the operational cost of the project: Not Applicable
e) Detail of additional staff requirements: Not Applicable
FEASIBILITY REVIEW:
A feasibility review is required for the award, renewal and/or expiration of all function sourcing contracts. This analysis is to determine the financial effectiveness of function sourcing services.
a) Was a Feasibility Review/Cost Analysis of Out-Sourcing vs. In-House Labor Conducted for this service? Not Applicable
b) If Yes, what is the total cost or total savings of utilizing Out-Sourcing vs. In-House Labor for this service? Not Applicable
BUSINESS IMPACT ESTIMATE:
Pursuant to Section 166.041, F.S., a Business Impact Estimate (BIE) must be prepared for certain ordinances that impact the operations of local businesses.
a) Is a Business Impact Estimate (BIE) Form attached to this Ordinance? Yes.
b) Is this Ordinance exempt from requiring a Business Impact Estimate (BIE)? Yes