AGENDA MEMORANDUM

Meeting Date:           March 10, 2008

From: Jerry Boop, CPA, Finance Director

Subject:                      Ordinance Amending the Fiscal Year 2007-08 Budget for the General, Electric, Gas and Police Forfeiture Funds.

Staff Recommendation:

Staff recommends adopting the attached ordinance amending the fiscal year 2007-08 budget for the General, Electric, Gas and Police Forfeiture 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

Police- Digital Video Recorders                      $ 25,526          Federal Grant

Police- Portable Electronic Information Sign  $ 17,456          Federal Grant

Police- Bulletproof Vests                                $   1,485          Federal Grant

Airport- Striping                                              $ 40,219          State Grant

Fire- Refurbish Antique 1927 Truck               $   2,000          Contributions

            Total Increases                                                $ 86,686

Reductions                 

Police- Equipment                                          $ 25,000          Transfer from Police Forfeiture

            Total Reductions                                 $(25,000)

Total General Fund                                      $ 61,686

Electric                                                                                   Funding Source

FDOT Lights                                                  $200,000         Fund Balance

Total Electric Fund                                      $200,000

Gas                                                                                         Funding Source

Hidden Harbor                                                $ 69,684          Customer Contribution

Total Gas Fund                                             $ 69,684

Police Forfeiture Fund                                                         Funding Source

Police Equipment                                            $ 23,390          Fund Balance

Total Police Forfeiture Fund $ 23,390

Options:

1.  Adopt the attached ordinance amending the fiscal year 2007-08 budget for the General, Electric,     Gas and Police Forfeiture Funds, or

2.  Such alternative action as the Commission may deem necessary.

Fiscal Impact: 

The following funds will increase as seen below:

FUND	FY 2008 CURRENT	CHANGE	FY 2008 AMENDED
General	26,403,310	61,686	26,464,996
Electric	74,644,028	200,000	74,844,028
Gas	14,544,463	69,684	14,614,147
Police Forfeiture	69,400	23,390	92,790
Total	115,661,201	354,760	116,015,961

Submission Date and Time:    3/19/2008 6:08 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. __________________                                    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 2007-08 BUDGET FOR THE GENERAL, ELECTRIC, GAS AND POLICE FORFEITURE FUNDS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Leesburg adopted a budget for Fiscal Year 2007-08 on September 24, 2007, 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 2007-08 to provide funds for various projects as adopted at City Commission meetings, and
WHEREAS, such action was not anticipated in the original 2007-08 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 2007-08 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 2007-08 for the City of Leesburg, Florida:
	GENERAL FUND
	ESTIMATED REVENUES AND OTHER RECEIPTS
	Other Financing Sources:
	Federal Grants			44,467
	State  Grants			40,219
	Contributions			2,000
	Transfer from Police Forfeiture			(25,000)
	TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS			61,686
	PROPOSED APPROPRIATIONS
	Public Safety			21,467
	Transportation			40,219
	TOTAL PROPOSED APPROPRIATIONS			61,686
	ELECTRIC FUND
	ESTIMATED REVENUES AND OTHER RECEIPTS
	Other Financing Sources:
	Fund Balance Appropriated			200,000
	TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS			200,000
	PROPOSED APPROPRIATIONS
	Physical Environment			200,000
	TOTAL PROPOSED APPROPRIATIONS			200,000
	GAS FUND
	ESTIMATED REVENUES AND OTHER RECEIPTS
	Other Financing Sources:
	Contributions			69,684
	TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS			69,684
	PROPOSED APPROPRIATIONS
	Physical Environment			69,684
	TOTAL PROPOSED APPROPRIATIONS			69,684
	POLICE FORFEITURE FUND
	ESTIMATED REVENUES AND OTHER RECEIPTS
	Other Financing Sources:
	Fund Balance Appropriated			23,390
	TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS			23,390
	PROPOSED APPROPRIATIONS
	Public Safety			23,390
	TOTAL PROPOSED APPROPRIATIONS			23,390
	ALL FUNDS
	ESTIMATED REVENUES AND OTHER RECEIPTS
	Other Financing Sources:
	State Grant			40,219
	Federal Grant			44,467
	Fund Balance Appropriated			223,390
	Contributions			71,684
	Transfers from Police Forfeiture			(25,000)
	TOTAL ESTIMATED REVENUES AND OTHER RECEIPTS			354,760
	ALL FUNDS
	PROPOSED APPROPRIATIONS
	Public Safety			44,857
	Physical Environment			269,684
	Transportation			40,219
	TOTAL PROPOSED APPROPRIATIONS			354,760
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 10th day of March, 2008.
			John Christian, Mayor
ATTEST:
City Clerk