MEMORANDUM

MEETING DATE:   September 13, 2007

FROM:                       Jerry Boop, CPA, Deputy Finance Director

SUBJECT:                  Ordinance Amending the Fiscal Year 2006-07 Budget for various funds

Third Quarterly Budget Adjustment

Staff Recommendation:

Staff recommends adopting the attached ordinance amending the fiscal year 2006-07 budget for the General, Stormwater Capital Projects, Electric, Gas, Water, Wastewater, Building Permits, Discretionary Sales Tax, Police Impact Fees, Recreation Impact Fees, and Fire Impact Fees Funds.

Analysis:

As established in the Budget Policy, adopted September 28, 1998, total appropriations within a fund cannot increase or decrease without formal action by the City Commission. 

These budget adjustments are required due to the following changes:

General Fund:                                                                                   Funding Source:

Logger Recorder                                               $      11,131                Lake County Grant

Dispatch Software & Hardware                               60,750                EMS Grant

Fire Training                                                               3,400                Workforce Grant        

Reduction of expenditures                                     (973,779)               Fund Balance

Reclass Police Impact fees to new fund                (277,123)               Police Impact Fees

Reclass Recreation Impact Fees to new fund        (437,144)               Recreation Impact Fees

Reclass Building Permits to new fund                (1,127,299)               Licenses & Permits

Reclass Building Permits to new fund                    198,591                Fund Balance

Reclass Discretionary Sales Tax to new fund     $ 1,019,879              Intergovernmental Revenue

            Total Decrease                                                 $(1,521,594)              

Stormwater Fund:                                                                             Funding Source:

Whispering Pines                                              $   (436,140)               Stormwater Mgmt. Grant

Whispering Pines                                                   (436,140)               Lake County Water Authority

Venetian Gardens                                                     44,244                SJRWMD Grant

Venetian Gardens                                                     72,366                FDEP Grant

Canal Street WWTP Ditch                                $      44,250                 SJRWMD Grant

            Total Decrease                                                 $   (711,420)

Capital Projects Fund:                                                                      Funding Source:       

Correction of Bond Allocation                                     $    810,322                Fund Balance

            Total Increase                                       $    810,322                           

Electric Fund:                                                                                   Funding Source:

2007 Bond Issue                                               $ 9,523,000                Debt Proceeds                                      

Hwy 441 Lights                                                $    542,450                 FDOT Grant 

            Total Increase                                       $10,065,450              

Gas Fund:                                                                                          Funding Source:

2007 Bond Issue                                               $ 2,400,000                Debt Proceeds

            Total Increase                                       $ 2,400,000

Water Fund:                                                                                       Funding Source:

2007 Bond Issue                                               $ 9,849,000                Debt Proceeds

            Total Increase                                       $ 9,849,000

Wastewater Fund:                                                                             Funding Source:

2007 Bond Issue                                               $ 1,947,500                Debt Proceeds

            Total Increase                                       $ 1,947,500

Building Permits Fund:                                                                    Funding Source:       

Reclass Building Permits to new fund               $ 1,127,299               Licenses & Permits

            Total Increase                                       $ 1,127,299

Discretionary Sales Tax Fund:                                                        Funding Source:

Reclass Discretionary Sales Tax to new fund    $ 1,865,905               Taxes

            Total Increase                                      $  1,865,905

Police Impact Fees Fund:                                                                Funding Source:

Reclass Police Impact Fees to new fund         $     277,123                Police Impact Fees

            Total Increase                                      $     277,123   

Fire Impact Fees Fund:                                                                   Funding Source:

Reclass Fire Impact Fees to new fund             $      258,449               Fire Impact Fees

            Total Increase                                     $      258,449

Recreation Impact Fees Fund:                                                       Funding Source:

Reclass Recreation Impact Fees to new fund   $     437,144               Recreation Impact Fees

            Total Increase                                      $     437,144

Options:        

1.         Adopt the attached ordinance amending the fiscal year 2006-07 budget for the General, Stormwater, Capital Projects, Electric, Gas, Water, Wastewater, Building Permits, Discretionary Sales Tax, Police Impact Fees, Fire Impact Fees, and Recreation Impact Fees Funds, or

2.         Such other action as the City Commission may deem necessary.

Fiscal Impact: 

The following funds will increase as seen below

FUND	FY 2007 CURRENT	CHANGE	FY 2007 AMENDED
General	29,565,245	(1,521,594)	28,043,651
Stormwater	3,907,442	(711,420)	3,196,022
Capital Projects	22,728,633	810,322	23,538,955
Electric	71,029,174	10,065,450	81,094,624
Gas	13,164,453	2,400,000	15,564,453
Water	18,153,450	9,849,000	28,002,450
Wastewater	19,690,720	1,947,500	21,638,220
Building Permits	0	1,127,299	1,127,299
Discretionary Sales Tax	0	1,865,905	1,865,905
Police Impact Fees	0	277,123	277,123
Fire Impact Fees	0	258,449	258,449
Recreation Impact Fees	0	437,144	437,144
Total	178,239,117	26,805,178	205,044,295

Submission Date and Time:    9/24/07 11:49 AM____

Department: ______________________ Prepared by:  __________________                       Attachments:  Yes____   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                      Newspapers: _________________________________                                                      _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. __________________                                    Deputy C.M. ___________________                                           Submitted by: City Manager ___________________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget  ______________________ Available _____________________

ORDINANCE NO.____________________
	AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA  AMENDING THE FISCAL YEAR 2006-07 BUDGET FOR THIRD QUARTER AJUSTMENTS FOR THE GENERAL, STORMWATER, CAPITAL PROJECTS, ELECTRIC, GAS, WATER, WASTEWATER, BUILDING PERMITS, DISCRETIONARY SALES TAX,  POLICE IMPACT FEES, FIRE IMPACT FEES AND RECREATION IMPACT FEES FUNDS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Leesburg adopted a budget for Fiscal Year 2006-07 on September 25, 2006, which they felt was in the best interest of the citizens of the City of Leesburg, and
WHEREAS, it is now necessary to amend the current budget for Fiscal Year 2006-07 to provide funds for various projects as adopted at City Commission meetings, and
WHEREAS, such action was not anticipated in the original 2006-07 annual budget;
NOW THEREFORE, BE IT ENACTED BY THE PEOPLE OF THE CITY OF LEESBURG, FLORIDA:
SECTION I.
Pursuant to Section 200.065, Florida Statutes, and all other applicable laws, the following amounts for use by the various funds during Fiscal Year 2006-07 as reflected below, including all modifications or amendments made during this meeting, are hereby adopted as increases/decreases to the original budget for Fiscal Year 2006-07 for the City of Leesburg, Florida:
	GENERAL FUND
	ESTIMATED REVENUES AND OTHER RECEIPTS
	Other Financing Sources:
	Police Impact Fees	(277,123)
	Recreation Impact Fees	(437,144)
	Grants Other Local Units	11,131
	State Grants	60,750
	Federal Grants	3,400
	Fund Balance	(775,188)
	Licenses & Permits	(1,127,299)
	Intergovernmental Revenue	1,019,879
	TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	(1,521,594)
	PROPOSED APPROPRIATIONS
	Physical Environment	(71,413)
	Public Safety	(939,177)
	General Government	(1,092,147)
	Culture/ Recreation	(207,594)
	Transportation	(215,942)
	Economic Environment	(15,200)
	Non Expenditures:
	Transfers to Other Funds	1,019,879
	TOTAL PROPOSED APPROPRIATIONS	(1,521,594)
	STORMWATER FUND
	Other Financing Sources:
	State Grant	(275,280)
	Grants Other Local Units	(436,140)
	TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	(711,420)
	PROPOSED APPROPRIATIONS
	Physical Environment	(711,420)
	TOTAL PROPOSED APPROPRIATIONS	(711,420)
	CAPITAL PROJECTS FUND
	ESTIMATED REVENUES AND OTHER RECEIPTS
	Other Financing Sources:
	Fund Balance	810,322
	TOTAL ESTIMATED REVENUES AND OTHER	810,322

PROPOSED APPROPRIATIONS
Transportation	189,323
General Government	579,412
Culture/Recreation	41,587
TOTAL PROPOSED APPROPRIATIONS	810,322
ELECTRIC FUND
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
State Grants	542,450
Debt Proceeds	9,523,000
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	10,065,450
PROPOSED APPROPRIATIONS
Physical Environment	10,065,450
TOTAL PROPOSED APPROPRIATIONS	10,065,450
GAS FUND
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
Debt Proceeds	2,400,000
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	2,400,000
PROPOSED APPROPRIATIONS
Physical Environment	2,400,000
TOTAL PROPOSED APPROPRIATIONS	2,400,000

WATER FUND
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
Debt Proceeds	9,849,000
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	9,849,000
PROPOSED APPROPRIATIONS
Physical Environment	9,849,000
TOTAL PROPOSED APPROPRIATIONS	9,849,000
WASTEWATER FUND
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
Debt Proceeds	1,947,500
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	1,947,500
PROPOSED APPROPRIATIONS
Physical Environment	1,947,500
TOTAL PROPOSED APPROPRIATIONS	1,947,500
BUILDING PERMITS FUND
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
Licenses & Permits	1,127,299
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	1,127,299

PROPOSED APPROPRIATIONS
Public Safety	1,127,299
TOTAL PROPOSED APPROPRIATIONS	1,127,299
DISCRETIONARY SALES TAX
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
Taxes	1,865,905
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	1,865,905
PROPOSED APPROPRIATIONS
Other Uses	1,865,905
TOTAL PROPOSED APPROPRIATIONS	1,865,905
POLICE IMPACT FEES
Other Financing Sources:
Police Impact Fees	277,123
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	277,123
PROPOSED APPROPRIATIONS
Other Uses	277,123
TOTAL PROPOSED APPROPRIATIONS	277,123
FIRE IMPACT FEES
Other Financing Sources:
Fire Impact Fees	258,449
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	258,449

	PROPOSED APPROPRIATIONS
	Other Uses		258,449
	TOTAL PROPOSED APPROPRIATIONS		258,449
	RECREATION IMPACT FEES
	Other Financing Sources:
	Recreation Impact Fees		437,144
	TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS		437,144
	PROPOSED APPROPRIATIONS
	Other Uses		437,144
	TOTAL PROPOSED APPROPRIATIONS		437,144
	ALL FUNDS
	ESTIMATED REVENUES AND OTHER RECEIPTS
	Other Financing Sources:
	Police Impact Fees		-
	Recreation Impact Fees		-
	Fire Impact Fees		258,449
	Grants Other Local Units		(425,009)
	State Grant		327,920
	Federal Grants		3,400
	Fund Balance		35,134
	Debt Proceeds		23,719,500
	Licenses & Permits		-
	Intergovernmental Revenue		1,019,879
	Taxes		1,865,905
	TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS		26,805,178
	ALL FUNDS
	PROPOSED APPROPRIATIONS
	Physical Environment		23,479,117
	Public Safety		188,122
	General Government		(512,735)
	Transportation		(26,619)
	Culture/ Recreation		(166,007)
	Economic Environment		(15,200)
	Transfers to Other Funds		1,019,879
	Other Uses		2,838,621
	TOTAL PROPOSED APPROPRIATIONS		26,805,178
SECTION II.
This ordinance shall become effective upon its passage and adoption by the Leesburg City Commission in the manner provided by law.
PASSED AND ADOPTED at a regular meeting of the City Commission of the City of Leesburg, Florida held on the_24th___ day of September, 2007.
		Sanna Henderson, Mayor
ATTEST:
City Clerk