M E M O R A N D U M
To: Honorable Mayor and Town Council
From: Rafael G. Casals, ICMA-CM, CFM, Town Manager
Date: October 17, 2018
Re: Fiscal Year 2017-18 Budget Amendment
REQUESTTitle
A RESOLUTION OF THE MAYOR AND TOWN COUNCIL OF THE TOWN OF CUTLER BAY, FLORIDA, AMENDING RESOLUTION 17-79, WHICH ADOPTED THE BUDGET FOR THE 2017/2018 FISCAL YEAR, BY REVISING THE 2017/2018 OPERATING AND CAPITAL BUDGET AS OUTLINED IN EXHIBIT “A” ATTACHED HERETO; AUTHORIZING THE TOWN MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE PROVISIONS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE.
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BACKGROUND AND ANALYSIS
State statutes allow for amending the budget legally adopted by the Town Council up to sixty (60) days after the end of the Fiscal Year. This allows the Council to provide for items not anticipated or not fully known when the original budget was adopted. It also allows the Council to adjust balances between line items within departments or to reallocate funds among departments based on circumstances that transpired during the Fiscal Year.
The Town requires such an amendment for the 2017/2018 Fiscal Year which will need to be adopted within the “sixty (60) days after year end” time frame primarily as a result of (1) costs and expenses incurred related to Hurricane Irma which continued into Fiscal Year 2018, (2) costs and expenses related to the GOB Bond Special Election, (3) appraisal and survey costs related to a certain land acquisition target, (4) increased costs related to building permitting services due to higher than anticipated permit revenues (shared with the contractor per agreement) as well as costs for Town projects, (5) reduced capital outlay related to the Town Hall building as a result of deferral of certain improvement projects, (6) insurance proceeds and FEMA reimbursements related to certain Hurricane Irma claims, and (7) stronger than anticipated revenue receipts for certain revenue categories, primarily franchise fees, building permits, and State shared revenues.
When adopting the Fiscal Year 2018 budget it was anticipated that the Cutler Bay Middle School Safe Routes to School project would be completed by September 30, 2017 and, as a result, no amounts were budgeted in Fiscal Year 2018 for this project. However, the closeout of this grant was delayed and costs were incurred in Fiscal Year 2018. Further, work related to the Gulfstream Elementary Safe Routes to School project commenced in Fiscal Year 2018 (earlier than anticipated) and costs incurred in Fiscal Year 2018. The budget amendment reflects accounting for these projects in Fiscal Year 2018.
Finally, due to the timing of certain projects using CITT funds, the Town was able to complete more roadway resurfacing “transportation” projects than was originally anticipated when the Fiscal Year 2018 budget was adopted. Also, certain “transit” related projects using CITT funds did not commence in Fiscal Year 2018 as planned. This budget amendment reflects adjustment of the CITT transportation and transit related budget amounts.
The proposed budget amendment is in balance.
RECOMMENDATION
Staff recommends Council adopt the attached Resolution amending the Fiscal Year
2017-18 budget.