Title
MOTION TO PASS PROPOSED ORDINANCE 2020-15 ON SECOND AND FINAL READING.
PROPOSED ORDINANCE 2020-15 IS AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF PEMBROKE PINES, FLORIDA, AMENDING ORDINANCE NO. 1932; PROVIDING FOR AN AMENDED BUDGET FOR FISCAL YEAR 2019-2020 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 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 2019-2020 budget adopted by Ordinance 1932 on September 18, 2019.
3. The intent of the amendment is to formalize the changes that have been made during the year, which are typically comprised of amendments previously authorized by Commission.
Major Changes include:
a. General Fund - $18.8 million; mainly $10.8 million for carryovers from the previous year as well as $7.3 million for refunding of Series 2008 Charter School Revenue Bonds to terminate rate SWAP and fund the Enterprise Resource Planning system.
b. Road & Bridge Fund - $3.1 million for carryovers from the previous year.
c. HUD Grants CDBG / HOME - $2.6 million; mainly $1.9 million for carryovers from the previous year.
d. Law Enforcement Grant - $1.1 million; mainly $873K for purchase and installation of locks and access controls for the School Violence Prevention Program.
e. Debt Service Fund - $73.7 million for refunding of Series 2008 Charter School Revenue Bonds to terminate rate SWAP and fund the Enterprise Resource Planning system.
f. ...
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