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 28, 2020
Re: Fiscal Year 2019-20 Budget Amendment
REQUEST
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A RESOLUTION OF THE MAYOR AND TOWN COUNCIL OF THE TOWN OF CUTLER BAY, FLORIDA, AMENDING RESOLUTION 19-74, WHICH ADOPTED THE BUDGET FOR THE 2019-20 FISCAL YEAR, BY REVISING THE 2019-20 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 Town Council to provide for items not anticipated (or not fully known) when the original budget was adopted. It also allows the Town 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 General Fund for the 2019-20 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 the COVID-19 pandemic, (2) revenue shortfalls resulting primarily from the COVID-19 pandemic, and (3) the exchange of the Town Hall properties for an approximate sixteen (16) acre parcel on Old Cutler Road, and (4) transfers-out to other funds due to the timing of project work for the Franjo Park restoration and completion of the LED Lighting Fund grant project.
Other budget amendments are also being proposed in funds other than the General Fund. These other funds are funded by dedicated revenue sources, such as grants and impact fees.
The following summarizes the proposed changes:
1. Transfer of additional Park Impact Fees from the Special Revenue Fund t...
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