AGENDA MEMORANDUM

Meeting Date:           February 11, 2008

From:                          Jerry Boop, CPA, Finance Director

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

Fourth Quarterly Budget Adjustment

Staff Recommendation:

Staff recommends adoption of the attached ordinance amending the fiscal year 2006-07 budget for the General, Stormwater, Capital Projects, Water, Wastewater, Building Permits, Police Forfeiture, Police Impact Fees, Fire Impact Fees, and Recreation 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:

Special Revenue Funds                                                 $1,129,824                Fund Balance

            Total Increase                                        $1,129,824               

Stormwater Fund:                                                                             Funding Source:       

Whispering Pines                                                $  156,951                Fund Balance

Total Increase                                         $  156,951

Capital Projects Fund:                                                                      Funding Source:       

Harden Fire Station #2                                    $  (  25,719)                LOOP/ Federal Grants

Harden Community Center                                  (  78,998)                LOOP/ Federal Grants

Harden Public Works                                           (  36,618)                LOOP/ Federal Grants

Harden City Hall     ( 116,466)                LOOP/ Federal Grants

            Total Decrease                                     $  (257,801)                           

Water Fund:                                                                                       Funding Source:

Plantation $ 1,536,610                Debt Proceeds

            Total Increase                                       $ 1,536,610

Wastewater Fund:                                                                             Funding Source:

Plantation $    563,390                Debt Proceeds

            Total Increase                                       $    563,390

Building Permits Fund:                                                                    Funding Source:       

Building Permits                                               $    501,765                Transfer from General Fund

            Total Increase                                       $    501,765

Police Forfeiture Fund:                                                                    Funding Source:

Police Forfeiture Fees                                     $       99,987                Transfer from General Fund

            Total Increase                                      $       99,987

Police Impact Fees Fund:                                                                Funding Source:

Police Impact Fees                                          $     185,842                Transfer from General Fund

            Total Increase                                      $     185,842   

Fire Impact Fees Fund:                                                                   Funding Source:

Fire Impact Fees                                             $      106,255                Transfer from General Fund

            Total Increase                                     $      106,255

Recreation Impact Fees Fund:                                                       Funding Source:

Recreation Impact Fees                                   $     235,975                Transfer from General Fund

            Total Increase                                      $     235,975

Options:

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

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact:  Fiscal Impact: 

The following funds will increase as seen below

FUND	FY 2007 CURRENT	CHANGE	FY 2007 AMENDED
General	28,043,651	1,129,824	29,173,475
Stormwater	3,196,022	156,951	3,352,973
Capital Projects	23,538,955	(257,801)	23,281,154
Water	28,002,450	1,536,610	29,539,060
Wastewater	21,638,220	563,390	22,201,610
Building Permits	1,127,299	501,765	1,629,064
Police Forfeiture	0	99,987	99,987
Police Impact Fees	277,123	185,842	462,965
Fire Impact Fees	258,449	106,255	364,704
Recreation Impact Fees	437,144	235,975	673,119
Total	106,519,313	4,258,798	110,778,111

Submission Date and Time:    2/20/2008 1:47 PM____

Department: ______________________ Prepared by:  ______________________                      Attachments:         Yes____   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                       Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. __JB_____________                                     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 THE GENERAL, STORMWATER, CAPITAL PROJECTS, WATER, WASTEWATER, BUILDING PERMITS, POLICE FORFEITURE,  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:
Fund Balance	1,129,824
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	1,129,824
PROPOSED APPROPRIATIONS
Non Expenditures:
Transfers to Other Funds	1,129,824
TOTAL PROPOSED APPROPRIATIONS	1,129,824
STORMWATER FUND
Other Financing Sources:
Fund Balance	156,951
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	156,951
PROPOSED APPROPRIATIONS
Physical Environment	156,951
TOTAL PROPOSED APPROPRIATIONS	156,951
CAPITAL PROJECTS FUND
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
LOOP	(140,265)
Federal Grants	(117,536)
TOTAL ESTIMATED REVENUES AND OTHER	(257,801)
PROPOSED APPROPRIATIONS
Public Safety	(25,719)
General Government	(153,084)
Culture/Recreation	(78,998)
TOTAL PROPOSED APPROPRIATIONS	(257,801)
WATER FUND
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
Debt Proceeds	1,536,610
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	1,536,610
PROPOSED APPROPRIATIONS
Physical Environment	1,536,610
TOTAL PROPOSED APPROPRIATIONS	1,536,610
WASTEWATER FUND
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
Debt Proceeds	563,390
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	563,390
PROPOSED APPROPRIATIONS
Physical Environment	563,390
TOTAL PROPOSED APPROPRIATIONS	563,390
BUILDING PERMITS FUND
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
Transfer from General Fund	501,765
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	501,765
PROPOSED APPROPRIATIONS
Reserve for Future Capital	501,765
TOTAL PROPOSED APPROPRIATIONS	501,765
POLICE FORFEITURE FUND
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
Transfer from General Fund	99,987
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	99,987
PROPOSED APPROPRIATIONS
Reserve for Future Capital	99,987
TOTAL PROPOSED APPROPRIATIONS	99,987
POLICE IMPACT FEES
Other Financing Sources:
Transfer from General Fund	185,842
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	185,842
PROPOSED APPROPRIATIONS
Reserve for Future Capital	185,842
TOTAL PROPOSED APPROPRIATIONS	185,842
FIRE IMPACT FEES
Other Financing Sources:
Transfer from General Fund	106,255
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	106,255
PROPOSED APPROPRIATIONS
Reserve for Future Capital	106,255
TOTAL PROPOSED APPROPRIATIONS	106,255
RECREATION IMPACT FEES
Other Financing Sources:
Transfer from General Fund	235,975
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	235,975
PROPOSED APPROPRIATIONS
Reserve for Future Capital	235,975
TOTAL PROPOSED APPROPRIATIONS	235,975
ALL FUNDS
ESTIMATED REVENUES AND OTHER RECEIPTS
Other Financing Sources:
Federal Grants	(117,536)
Fund Balance	1,286,775
Debt Proceeds	2,100,000
LOOP	(140,265)
Transfer from General Fund	1,129,824
TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS	4,258,798
ALL FUNDS
PROPOSED APPROPRIATIONS
Physical Environment	2,256,951
Public Safety	(25,719)
General Government	(153,084)
Culture/ Recreation	(78,998)
Reserve for Future Capital	1,129,824
Transfers to Other Funds	1,129,824
TOTAL PROPOSED APPROPRIATIONS	4,258,798

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 special meeting of the City Commission of the City of Leesburg, Florida held on the____ day of February , 2008.
	John Christian, Mayor
ATTEST:
City Clerk