97-22256 RESO
RESOLUTION NO.
97-22256
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, PROVIDING FOR THE FOURTH AND FINAL
AMENDMENT TO THE FISCAL YEAR 1995/96 BUDGET WITHIN THE SPECIAL
REVENUE FUND FOR RESORT TAX, TOTALING $1,505,054
WHEREAS, the Administration has performed a review of the General, Enterprise, Internal Serlic :,
and Other Funds to determine if an amendment to departmental operating revenue and exp.~m e
appropriations is necessary to maintain a balanced budget; and
WHEREAS, a determination has been made that no further budget amendment is necessary w thi 1
the General, Enterprise, and Internal Service Funds; and
WHEREAS, a review of Special Revenue Funds indicates that the Resort Tax function has excel~d€ :l
its appropriation, thus necessitating a budget amendment; and
WHEREAS, operating revenues and fund balance will provide the source for increased expendi1 un s
in the amount of $1 ,505,054 for the Special Revenue Fund for Resort Tax.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND ClIT{
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the following appropriatior s
within the Special Revenue Fund for Resort Tax are hereby amended to cover revenues and expenditun:s , s
enumerated as follows:
GENERAL FUND
OPERATING REVENUES
Property Taxes
Other Taxes
Licenses and Permits
Intergovernmental
Charges for Services
Fines and Forfeits
Interest
Rents and Leases
Miscellaneous
Other
Fund Balance
Subtotal
DEBT SERVICE
Ad Valorem Taxes
Subtotal
Total Revenues
FY 1995/96
Amended Budget
Sept 25, 1996
$ 41,413,821
16,218,250
6,725,000
9,307,500
1,875,163
900,000
4,700,000
928,228
59,302,374
9,584,896
174.849
$151,130,081
$ 10.368.286
$ 10.368.286
$161.498.367
Increase/
(Decrease)
FY 1995/96
Amended Budget
January 8,1997
$0
o
o
o
o
o
o
o
o
o
-.J!
o
$ 41,413,821
16,218,250
6,725,000
9,307,500
1,875,163
900,000
4,700,000
928,228
59,302,374
9,584,896
174.849
$151,130,081
~
~
$ 10.368.286
$ 10.368.286
Sf!
$161.498.367
FY 1995/96 Increase/ FY 1995/96
Amended Budget (Decrease) Amended Budget
Sept 25, 1996 January 8,1997
GENERAL FUND
APPROPRIATIONS
Mayor & Commission $ 570,787 $0 $ 570,787
City Manager 1,218,918 0 1,218,918
City Attorney 2,030,901 0 2,030,901
City Clerk 745,371 0 745,371
Children/Families Affairs 68,376 0 68,376
Community Relations/PIO 555,848 0 555,848
Finance 1,557,596 0 1,557,596
Management & Budget 651,379 0 651,379
Human Resources 1,220,366 0 1,220,366
Building Services 3,401,367 0 3,401,367
Development Services 1,568,804 0 1,568,804
Bass Museum of Art 592,401 0 592,401
Recreation/Culture/Parks 11,641,527 0 11,641,527
General Services 2,191,994 0 2,191,994
Public Works 2,359,578 0 2,359,578
Fire 17,844,846 0 17,844,846
Police 35,508,409 0 35,508,409
Citywide 67.401.613 .J2 67.401.613
Subtotal $151.130.081 iQ $151.130.081
DEBT SERVICE
Debt Service $ 10.368.286 iQ $ 10.368.286
Subtotal $ 1 0.368.286 iQ $ 10.368.286
Total General Fund $161.498.367 i!! $161.498.367
ENTERPRISE FUNDS
APPROPRIATIONS
Convention Center $ 23,339,563 $0 $ 23,339,563
Parking 21,227,716 0 21,227,716
Sanitation 3,758,139 0 3,758,139
Sewer 23,491,396 0 23,491,396
Storm Water 3,398,813 0 3,398,813
Water 15.236.363 .J2 15.236.363
Total Enterprise $ 90.451.990 i!! $ 90.451.990
INTERNAL SERVICE FUNDS
APPROPRIATIONS
Central Services $ 702,300 $0 $ 702,300
Communications 4,420,407 0 4,420,407
Fleet Management 5,672,315 0 5,672,315
Property Management 3,755,827 0 3,755,827
Risk Management 10.338.922 .J2 10.338.922
Total Internal Serv $ 24.889.771 J! $ 24.889.771
TOTAL FUNDS $276.840.128 J! $276.840.128
FY 1995/96
Amended Budget
Sept 25, 1996
OTHER FUNDS
APPROPRIATIONS
Resort Tax
TOTAL OTHER
$ 9.907.000
$ 9.907.000
Increase/
(Decrease)
FY 1995/96
Amended Budget
January 8,1997
$1.505.054
$1.505.054
$ 11.412.054
$ 11.412.054
PASSED and ADOPTED this 8th day of January, 1997.
Attest by:
RoLu-ct- r~~
City Clerk
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APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
4I;f1!!J/L
CitY .&,ifomev
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Date
CITY OF
MIAMI
BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139
COMMISSION MEMORANDUM NO. ~
TO:
Mayor Seymour Gelber and
Members of the City Commission
DATE:
January 8, 1997
FROM:
Jose Garcia-Pedrosa
City Manager
SUBJECT:
!
A SUMMARY OF CHANGES IN FUND BALANCE AND ANNUAl
PERFORMANCE FOR THE GENERAL FUND AS OF SEPTEMBER 30, 1996
CHANGES IN FUND BALANCE
An illustration of the changes in total fund balance (reserved and unreserved) between October 1, 1995
(final) to October 1, 1996, (preliminary) is depicted below:
FY 1996
$ 2,630,759
. FY 1995
$ 6,774,972
Beginning Total Fund Balance
Excess (Deficiency) of Revenues
over Expenditures
Ending Total Fund Balance
Reserved for Capital Projects
UnreservedlUndesignated
Reserved for Encumbrances
UnreservedlUndesignated
Reserved for Prepaid Pension
UnreservedlUndesignated
Reserved for Contingencies
UnreservedIU ndesignated
56.075.764.
$58,706,523
(46.500.000)
$12,206,523
( 449.187)
$11,757,336
o
$11,757,336
(10.000.000)
$ 1,757,336
(4.144.213)
$2,630,759
o
$2,630,759
( 564.260)
$2,066,499
0.514.378)
$ 552,121
( 0)
$ 552,121
As the columns depict, the ending unreserved balance grew from $552,121 to $1,757,336 without the
inclusion of the transactions for Publix ($900,000) and Ojus two-acre parcel ($141,831), some $1,041,831
in budgeted revenues. In fact, comparing the unreserved fund balance prior to the deduction for
contingencies shows a dramatic growth from $552,121 to $11,757,336.
ANNUAL PERFORMANCE
To determine our performance from operations, it is necessary to deduct from the total revenues of
$149,580,024, those non-operating revenues received from the interlocal agreement ($46,500,000) and OJ us
transactions ($9,052,119) as they were reserved for capital projects and contingencies. The results of our
operating performance still yields an operating surplus of $523,645, without the PublixlOjus transactions.
Revenues
Expenditures
Surplus/(Deficit)
$ 94,027,905
( 93.504.260)
$ 523,645
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AGENDA ITEM _~ 1.E~
DATE \-~-:1.L
CITY OF
MIAMI
BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139
COMMISSION MEMORANDUM NO. ~
TO:
Mayor Seymour Gelber and
Members of the City Commission
DATE:
January 8, 1997
FROM:
Jose Garcia-Pedrosa
City Manager
SUBJECT:
A RESOLUTION THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, LORIDA, PROVIDING FOR THE FOURTH AND FINAL
AMENDMENT TO THE FISCAL YEAR 1995/96 SPECIAL REVENUE FUN])
BUDGET
RECOMMENDATION
Adopt the Resolution.
BACKGROUND
Resolution Number R-94-21258 directed the Administration to provide quarterly reports on the operating
budget by comparing budget to actual, with explanations on those revenue and expense categories and
classifications which our year-end projections reveal will be at a significant variance to budget. The last
such report with year-end projections was provided on September 25, 1996, for which a third budget
amendment was adopted. At that writing, we advised that a final amendment along with a year-end
reconciliation would be submitted to coincide with year-end closing, thus allowing us to capture an:!
additional unanticipated expenses and/or transactions which occurred as part of this process which requin~
Commission approval and appropriation. It must be noted that these actuals are preliminary in nature dUI~
to the fact that the City's financial records will not be closed until after the external auditors complete their
review. Historically, this occurs in mid January, with the City's Comprehensive Annual Financial Report
(CAFR) For the Year Ended September 30, 1996, available in early March.
Furthermore, we advised that a budget amendment may be necessary for any fund which our projection;
reveal are at a significant variance to budget. Since Florida Statutes prohibits the overexpenditure of
departmental budgets and funds without Commission approval, it is necessary to increase appropriations in
a fund whose year-end actuals and closing transactions reveal it will be overexpended. Failure to adopt an
amendment would cause a reportable condition to be issued by the external auditor in its management letter.
This did in fact occur for the Fiscal Year Ended September 30, 1993, for which management responded b:,
stating that budget amendments would be submitted to the Commission for approval. Funding for these
increased allocations will be provided from revenues and fund balance. The Budget Advisory Committee
(BAC) is scheduled to review this amendment at its January 7, 1997 meeting.
ANALYSIS DISCUSSION
Preliminary year-end budget to actual comparisons for General, Enterprise, Internal Service, and Special
Revenue Resort Tax Funds are presented in the following pages with comments on those areas which are
at a significant variance to budget. For clarity, we will enumerate each department by fund in the order
in which it appears in the budget Resolution. Categories identified correspond to those majo:
AGENDAITEM_B-1 ~:~J_
DATE \-~-'1'L
Fiscal Year 1995/96 Fourth and Final Budget Amendment
January 8, 1997
Page 2
categories/classifications identified in the operating budget Resolution. After the analysis, the
Administration's recommendation for the fourth and final budget amendment will be presented based on the
foregoing analysis.
I. GENERAL FUND OVERVIEW
At this writing, actual operating revenues received from all sources by the General Fund total $149,580,02L,
which is $1,550,057 or 1% less than the adopted budget of$151,130,081. Actual operating expenditures
incurred by all departments in the General Fund total $93,504,260, which is $57,625,821 less than the
adopted budget of$151,130,081. Summing the revenue shortfall ($1,550,057) and the underexpenditure
($57,625,821) equals a surplus of $56,075,764 which will become a contribution to fund balance.
Given that no appropriation was overexpended, no further amendment is recommended for the General Fund.
This result does approximate the goal of our last report dated September 25, 1996 which budgeted a
contribution to fund balance of approximately $56,277,658 comprised of these elements-- $9,052,119 frOfl
the Ojus proceeds; $46,500,000 from the Interlocal Agreement proceeds, and $725,539 from year-enj
operations.
Fund balance (reserved and unreserved) on October 1, 1995 was $2,630,759. Adding the $56,075,764
contribution equals a total fund balance at September 30,1996 of $58,706,523. Of this $58.7M, $56,500,000
($46,500,000 + $10,000,000) will be shown on the balance sheet as reserved, subject to Commission
approval prior to commitment and expenditure, as will $449,187 for estimated FY 1996 prior-ye2f
encumbrances; the balance of$I,757,336 will be unreservedlundesignated, which compares favorably to the
prior year's unreservedlundesignated balance of$552,121. Turning to Fiscal Year 1996/97, a contributiOlll
of $865,000 was adopted by the Commission at its December 18, 1996 meeting to increase reserved
fund balance from $10,000,000 to 11 % ofthe then adopted budget ($98,771,278 X 11 %) is $10,865,000.
The changes in fund balance between Fiscal Years 1995 (final) and 1996 (preliminary) are shown below.
Beginning Total Fund Balance
Excess (Deficiency) of Revenues
over Expenditures
Ending Total Fund Balance
Reserved for Capital Projects
Reserved for Contingencies
Reserved for Prepaid Pension
Reserved for Encumbrances
UnreservedIU ndesignated
FY 1996
$ 2,630,759
FY 1995
$ 6,774,972
56.075.764
$ 58,706,523
(46,500,000)
(10,000,000)
o
( 449.187)
$ 1,757,336
(4.144.213)
$ 2,630,759
o
o
(1,514,378)
( 564.260)
$ 552,121
A summary of preliminary General Fund Revenues and Expenditures as of September 30, 1996 follows:
FY 95/96 Actuals* Budget/Actual
Budget* Sept 30, 1996 Over/(Under)
$151,130,081 $149,580,024 ($ 1,550,057)
151. 130.081 93.504.260 ($57.625.821)
$ 0 $ 56,075,764 $ 56,075,764
General Fund
Revenues
Expenditures
Surplus/(Deficit)
Fiscal Year 1995/96 Fourth and Final Budget Amendment
January 8, 1997
Page 3
Note:* This budget includes an adopted $56,277,658 contribution to fund balance to recognize the:
establislunent of reserves. This must be considered when reviewing the actual operating performance ofth(:
organization. Actuals exclude prior-year encumbrances presently estimated at $449,187.
For a detail of General Fund Revenues and Expenditures by category and classification, see "Attaclunent A."
Detailed comments on revenue categories and expenditure departments are shown below.
I. A. General Fund Revenues
As of September 30, 1996, actual revenues collected were 99% of budget or $149,580,024.
1. Ad Valorem Property Taxes - Based on actual collections of 100%, an excess of $146,259
resulted at year-end. This is an improvement over FY 1995, wherein year-end collections were 97% 0:'
budget.
2. Other Taxes - This category includes franchise and utility taxes on services which ar(:
sensitive to local economic indicators. Based on actual collections of 100%, an excess of$18,040 resultec
at year-end. Overall, we collected $965,042 or 6% more than the prior year in this category.
3. Licenses and Permits - This category includes occupational licenses and building anc
special use permits. Based on actual collections of 93%, a shortfall of $463,703 resulted at year-end. Thi~,
is due primarily to occupational licenses ($220,497); towing permit fees ($150,839); and building permit~,
($92,367). Overall, we collected $213,239 or 4% more than the prior year in this category.
4. Intergovernmental - This category includes state shared revenues such as cigarette, gas
and sales taxes. Based on actual collections of 99%, a shortfall of $93,403 resulted at year-end.
5. Charges for Services - This category includes admissions at recreational centers anc.
facilities, and fees for fire rescue and general and proprietary services. Based on actual collections of 83%
a shortfall of $321,607 resulted at year-end due to general and proprietary service ($45,000), fire rescm
($224,000) and off-duty ($31,000) fees, and recreation instructional classes ($22,000).
6. Fines and Forfeits - This category includes parking and traffic citations, and code, fire, anc.
zoning violation fines. Based on actual collections of 112%, an excess of $111,077 resulted at year-end
This was due primarily to zoning violation fines.
7. Interest - This category reflects interest earnings on pooled cash due to the General Fund
Based on actual collections of 81 %, a shortfall of $912,786 resulted at year-end due to lower interest yields
8. Rents/Leases - This category includes rents and leases on City-owned facilities such as th(
Bayshore Golf Course, Old City Hall, and others. Based on actual collections of 102%, an excess of$22,286
resulted at year-end.
9. Miscellaneous - This category includes management fees, concessions, planning fees, sak:
of city property, interlocal agreement transaction, and other reimbursements. Based on actual collectiom;
of 99%, a shortfall of$85,210 resulted at year-end.
Fiscal Year 1995/96 Fourth and Final Budget Amendment
January 8, 1997
Page 4
10. Other - This category includes non-operating revenues such as the Transfer In from Resor:
Tax, and Management Fees assessed to other funds. Based on actual collections of 102%, an excess o:~
$203,839 resulted at year-end.
I. B. General Fund Expenditures
As of September 30, 1996, actual expenditures were $57,625,821 under budget which will allow L
contribution to fund balance. Comments have been limited to variances greater than $50,000.
1.
Mayor and Commission
FY 95/96 Actuals
Budget Sept 30, 1996
$570,787 $560,907
Budget! Actual
Over/(Under)
$(9,880)
This office expended 98% of its budget and generated a'year-end surplus of $9,880.
2.
Office of City Manager
FY 95/96 Actuals
Budget Sept 30, 1996
$1,218,918 $1,212,001
Budget! Actual
Over/(Under)
$(6,917)
This office expended 99% of its budget and generated a year-end surplus of $6,917.
3.
Office of City Attorney
FY 95/96 Actuals
Budget Sept 30, 1996
$2,030,901 $1,989,853
Budget! Actual
Over/(Under)
$(41,048)
This office expended 98% of its budget and generated a year-end surplus of $41 ,048.
4.
Office of City Clerk
FY 95/96
Budget
$745,371
Actuals Budget! Actual
Sept 30, 1996 Overl(Unde~
$722,430 $(22,941)
This office expended 97% of its budget and generated a year-end surplus of $22,94 I.
5.
Bureau of ChildrenlFamilies Affairs
FY 95/96 Actuals
Budget Sept 30, 1996
$68,376 $62,192
Budget! Actual
Over/(Under)
$(6,184)
This office expended 91 % of its budget and generated a year-end surplus of $6, 184.
Fiscal Year 1995/96 Fourth and Final Budget Amendment
January 8, 1997
Page 5
6. Community Relations/Public Information
FY 95/96 Actuals Budget! Actual
Budget Sept 30, 1996 Oved0Jnde~
$555,848 $542,643 $(13,205)
This office expended 98% of its budget and generated a year-end surplus of $13,205:
7.
Finance
FY 95/96
Budget
$1,557,596
Actuals Budget! Actual
Sept 30, 1996 Oved0Jnde~
$1,555,335 $(2,261)
This department expended 99% of its budget and generated a year-end surplus of $2,261.
8.
Office of Management and Budget
FY 95/96 Actuals
Budget Sept 30, 1996
$651,379 $649,128
Budget! Actual
Over/(Under)
$(2,251 )
This office expended 99% of its budget and generated a year-end surplus of $2,251.
9.
Human Resources
FY 95/96
Budget
$1,220,366
Actuals Budget! Actual
Sept 30, 1996 Over/0Jnder)
$1,182,114 $(38,252)
This department expended 97% of its budget and generated a year-end surplus of $38,252.
10.
Building Services
FY 95/96
Budget
$3,401,367
Actuals Budget! Actual
Sept 30, 1996 Over/0Jnder)
$3,297,143 $(104,224)
This department expended 97% of its budget and generated a year-end surplus of $1 04,224 due primarily
to professional and field positions which remained unfilled within the Building and Code Compliance
divisions. It is anticipated that these positions will be filled by the second quarter of FY 1996/97.
11. Development, Design, and Historic Preservation (DDHP)
FY 95/96 Actuals Budget! Actual
Budget Sept 30, 1996 Oved0Jnde~
$1,568,804 $1,542,793 $(26,011)
This department expended 98% of its budget and generated a year-end surplus of$26,011.
Fiscal Year 1995/96 Fourth and Final Budget Amendment
January 8, 1997
Page 6
12.
Bass Museum of Art
FY 95/96
Budget
$592,401
Actuals Budget! Actual
Sept 30, 1996 Oved0Jnde~
$575,166 $(17,235)
This department expended 97% of its budget and generated a year-end surplus of$17,235.
Recreation, Culture, and Parks
FY 95/96 Actuals
Budget Sept 30, 1996
$11,641,527 $11,230,965
13.
Budget! Actual
Over/0Jnder)
$(410,562)
This department expended 97% of its budget and generated a year-end surplus of $410,562, of whicl
$187,001 will be reserved for prior-year encumbrances; the balance of $223,561 is due primarily t,)
underexpenditures in professional services, other operating, and internal services.
14.
General Services
FY 95/96
Budget
$2,191,994
Actuals Budget! Actual
Sept 30, 1996 Over/0Jnder)
$2,099,912 $(92,082)
This department expended 96% of its budget and generated a year-end surplus of $92,082, of which $10,9J~
will be reserved for prior-year encumbrances; the balance of$81,148 is due to professional positions whicl
remained unfilled for three quarters within the Administration and Construction Management divisions. The
Construction Management vacancies were filled during the fourth quarter.
15.
Public Works
FY 95/96
Budget
$2,359,578
Actuals Budget! Actual
Sept 30, 1996 Over/0Jnder)
$2,299,218 $(60,360)
This department expended 97% of its budget and generated a year-end surplus of $60,360, of which $5,467
will be reserved for prior-year encumbrances; the balance of $54,893 is due to managerial, professional, and
administrative support positions within the Administration and Construction Management divisions which
remained unfilled for three quarters. The majority of these vacancies were filled during the fourth quarter.
16. Fire
FY 95/96
Budget
$17,844,846
Actuals Budget! Actual
Sept 30, 1996 Over/0Jnder)
$17,776,594 $(68,252)
This department expended 99% of its budget and generated a year-end surplus of $68,252, of which $22,97.2
will be reserved for prior-year encumbrances; the balance of $45,280 is due primarily to underexpenditures
in other operating and professional services.
Fiscal Year 1995/96 Fourth and Final Budget Amendment
January 8, 1997
Page 7
17. Police
FY 95/96
Budget
$35,508,409
Actuals Budget! Actual
Sept 30, 1996 Over/(Under)
$35,255,263 $(253,146)
This department expended 99% of its budget and generated a year-end surplus of $253,146, of which
$54,067 will be reserved for prior-year encumbrances; the balance of $199,079 is due primarily to civilian.
vacancies in Support Services ($119,079), and capital ($80,000).
18.
Citywide Accounts
FY 95/96
Budget
$67,401,613
Actuals Budget! Actual
Sept 30, 1996 Overl0Unde~
$10,950,603 $(56,451,010)
This category expended 16% of its budget and generated a year-end surplus of $56,451,010, of whic1
$56,277,658 was the budgeted contribution to fund balance; the balance of$173,352 has $139,998 reservei
for prior-year encumbrances, and represents $33,354 in underexpenditures.
II. ENTERPRISE FUNDS OVERVIEW
The City accounts for these proprietary operations in Enterprise Funds. Departments such as the Conventiol
Center, Parking, Sanitation, Sewer, Storm Water, and Water are included within this grouping. Based UPO:l
our review of the year-end actuals, no appropriations were exceeded which will require a budget amendmenl..
For a detail of Enterprise Fund Revenues and Expenses by department, see "Attachment B."
ID. INTERNAL SERVICE FUNDS OVERVIEW
The City accounts for those goods and services provided by one department to other departments citywid.~
on a cost reimbursement basis. Departmental operations included in this grouping include Central Service~,
Communications, Fleet Management, Property Management, and Risk Management (Self-Insurance). Based
upon our review of the year-end actuals, no appropriations were exceeded which will require a budget
amendment.
For a detail ofIntemal Service Fund Revenues and Expenses by department, see "Attachment C."
IV. SPECIAL REVENUE FUND OVERVIEW
The City accounts for those programs and activities which do not receive general operating support within
this category. These activities are self-supporting entities which receive funding through user fe,~
programs, operating revenues, and private donations. Our analysis of these funds indicates that there is onl:1
one function which has exceeded its appropriation, for which a budget amendment will be required.
A. Resort Tax
Special Revenue Fund
Revenues
Expenditures
Surplus/(Deficit)
FY 95/96
Budget
$9,907,000
9.907.000
$ 0
Actuals
Sept 30, 1996
$11,069,596
11.412.054
($ 342,458)
Budget! Actual
Over/(Under)
$1,162,596
1.505.054
($ 342,458)
Fiscal Year 1995/96 Fourth and Final Budget Amendment
January 8, 1997
Page 8
An analysis of this fund's operation indicated that it exceeded its appropriation by 15%. Increas(:d
expenditures from contributions to the General Fund ($892,528), and payments to the veA resulting fron
increased revenue receipts subject to the distribution fonnula ($625,779) were offset by decreas~d
expenditures for resort tax collection/administration costs ($13,254). Summing these increases and decreases
equals $1,505,054. However, due to this increased activity, excess revenues were also received from
increased resort tax collections ($848,834), transfers in from repayment of the 1994 Delano Hotellmn
($311 ,261), miscellaneous resort tax registration fees ($2,501), and fund balance ($342,458) totalir g
$1,505,054. Therefore, in order to recognize these revenues and expenditures, an increase in the fund's
appropriation by $1,505,054 supported by operating revenues and fund balance is required.
FOURTH AND FINAL BUDGET AMENDMENT DISCUSSION
Having provided an analysis of General, Enterprise, Internal Service, and Special Revenue Funds, we will
now present the amendment required for the Special Revenue Resort Tax fund to increase its appropriatic n
to cover expenditures.
I. SPECIAL REVENUE FUND APPROPRIATION (REVENUE AND
EXPENDITURE)
A. Resort Tax
INCREASED APPROPRIATION AMOUNT
Revenue
Resort Taxes $ 848,834
Transfers In 311,261
Miscellaneous/ Registration Fees 2,501
Fund Balance 342.458
Total Revenue $1.505.054
Expenditure
Other Uses
Total Expenditure
Net Increasenoecrease
$1.505.054
$1.505.054
o
CONCLUSION
The attached Resolution will allow the fourth and final amendment to a departmental appropriation within
a Special Revenue Fund to be enacted. This action is necessary to comply with Florida Statutes which
stipulate that we may not expend more than our appropriations provide. Operating revenues, and fund
balance provide the source for this fourth and final budget amendment for Fiscal Year 1995/96 to the Specill
Revenue Fund for Resort Tax.
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