Summary
To: Town Commission
From: Gay Lancaster, Town Manager
Date: 8/19/2025
______________________________________________________________________
Subject:
Title
Transfer of Funds from General Fund to Capital Projects Fund related to ARPA funds received.
Summary:
The use of the ARPA funds in FY 23-24 created a surplus in the General Fund unassigned fund balance in the amount of $2,232,152.93. To better address the Town's current capital needs, utilizing the surplus in the General Fund would be more effective if allocated to the Capital Projects Fund.
End
Body
Previous Commission Action: The Town of Belleair received American Rescue Plan Act (ARPA) Coronavirus Local Fiscal Recovery Funds. Funds were used to reimburse the Town for fire services for the period of April, 2021 to May, 2023. The Commission approved the use of the ARPA funds for fire services on 09/04/2024. As a part of the budget discussion for FY 24-25, there was consensus among Commissioners to allocate the funds to Capital Improvement.
Background/Problem Discussion: There continues to be a long list of projects which need to be funded.
Expenditure Challenges NA
Financial Implications: The transfer of funds from the General Fund to the Capital Projects Fund will reduce the unassigned fund balance in the general fund from $6,998,991 to $4,766,838.
Recommendation: Staff recommends approval to transfer funds from the General Fund to the Capital Projects Fund.
Proposed Motion Move to approve the transfer of $2,232,153 from the General Fund to the Capital Projects Fund.