Item C04BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: FebruM 15, 2012
Bulk Item: Yes X No
Division: Budget & Finance
Department: OMB
Staff Contact Person/Phone #-. Penny Kipp X4470
AGENDA ITEM WORDING: Approval to advertise a Public Hearing for a Budget Amendment for
One Cent Infrastructure Sales Tax Fund 304, 2007 Revenue Bond Fund 308, and Duck Key
Wastewater Project Fund 311.
...............
ITEM BACKGROUND: To align the budgets with revenues and expenditures of on -going Capital
Improvement Projects in Funds 304, 308, and 311.
...........................
PREVIOUS RELEVANT BOCC ACTION: On September 15, 2011, the BO . CC approved the FYI 2
Operating and Capital Project Budgets.
CONTRACT/AGREEMENT CHANGES: N/A
STAFF RECOMMENDATIONS: Approval
TOTAL COST: N/A INDIRECT COST. BUDGETED: Yes X No
COST TO COUNTY: N/A SOURCE OF FUNDS: Fund Balances
REVENUE PRODUCING: Yes No X AMOUNT PER MONTH Year
APPROVED BY: County Atty B urchasing Risk Management
DOCUMENTATION: Included x Not Required
DISPOSITION: AGENDA ITEM #
Revised 2/27/01
r'! K ~~'O�
OUNTYSFLORIDAONROE
KEY WEST 33040
(305) 294-4641
Il
Office of Budget and Management
1100 Simonton Street, Rm 2-213
Key West, FL 33040
(305) 292-4470 Phone
(305) 292-4515 Fax
MEMORANDUM
Date: 1 / 19/2 012
To: Tina Boan, Budget Director
From: Penny Kipp, Sr. Budget Administrator
Subject: Budget Amendment Request
BOARD -OF COUNTY _Q9MMISSIONEM
Mayor David Rice, District 4
Mayor Pro Tem Kim Wigington, District 1
George Neugent, District 2
Heather Carruthers, District 3
Sylvia J. Murphy, District 5
Tina, I'm requesting for BOCC approval to advertise a public Hearing for a Budget Amendment on the following
funds: 304, 3081 311 and 131.
Every year, we request to amend the Capital Improvement Project Plan in order to account for actual revenue and
project expenditures from the prior year. The adopted FY2012 Capital budgets are based on Engineering/Public
Works estimates of on -going projects and conservative revenue projections. I m asking to amend those funds based on
current project funding needs.
The major reason to amend Fund 304 is to increase the amount of funds to be transferred to the Duck Key Wastewater
project. Not all the funds appropriated for FY201 I were expended, so we need to roll those unused funds into the
current fiscal year. Source of funds will be coming from fund balance. The total FY2012 Adopted Budget is
$19,258,255 and I'm requesting to amend the budget to $21,977,489 which is an increase of $2,719,234.
As for Fund 308, we need to amend the budget based on timing of construction projects. When the FY2012 budget
was adopted, we were using project estimates that were too high. We need to roll those unused funds into the current
fiscal year to continue the work on those projects. Source of funds will be coming from fund balance. The total
FY2012 Adopted Budget is $7,160,398 and I'm requesting to amend the budget to $9,115,841 which is an increase of
$1,9551443 .
And for Fund 31 1, we need to amend the budget based on timing of the wastewater project on Duck Key, It relates to
the amendment of Fund 304 since the funding source of this project is the use of one Cent Infrastructure Surtax funds.
The total FY2012 Adopted Budget is $5,014,881 and I'm requesting to amend the budget to $8,300,700 which is an
increase of $3,285,819.
Thank you for reviewing my request.