Summary
To: Mayor Gary H. Katica, Commissioners
From: Stefan Massol, Support Services Director
Date: 8/1/2017
______________________________________________________________________
Subject:
Title
Resolution 2017-15: Amending the Budget
Summary:
Staff is requesting approval of the attached budget amendment for Fiscal Year 2016-2017. The request records reserves transfers due to personnel changes, dissolution of the Golf Fund, and postponement of a vehicle purchase from the prior fiscal year.
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Body
Previous Commission Action: The Commission previously approved three other budget amendments for FY16-17.
Background/Problem Discussion: There were several retirements this year from the Town of Belleair that cumulatively resulted in accrued leave payouts of $71,400. These amounts are recorded as long-term liabilities and historically are funded from reserves. Personnel overages in Police and Parks & Recreation are a result of backfilling of personnel reassigned to light-duty and merit increases.
Staff is requesting the usage of balance from the Tree Fund to perform tree plantings around the tennis courts and medians throughout town.
The Golf Fund is to be dissolved as golf operations have ceased for the Town of Belleair. Staff is requesting that $800,000 of fund balance be returned to the General Fund, an offset of related professional services costs ($44,750), and the remaining $3,863,614 of proceeds be transferred to the Capital Projects Fund. Staff expects to invest the dollars for the time being, pursuant to the town's investment policy.
Lastly, staff requests an increase in the Water Fund for vehicle purchases. An F250 purchase was budgeted in FY 2015-16, however the town did not receive the vehicle until the current fiscal year.
Financial Implications: Savings have been identified to offset added insurance costs. Additional savings in the range of $38,000 have been identified preliminarily by staff, however the savings identified may have service-l...
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