HomeMy WebLinkAboutDocumentation_Regular_Tab 16_12/12/2019
Agenda Item #16.
Regular Council
STAFF MEMO
Meeting: Regular Council - Dec 12 2019
Staff Contact: Hugh Dunkley Department: Finance
TITLE
RESOLUTION 58-19,ARESOLUTION OF THE VILLAGECOUNCILOF THE VILLAGEOF
TEQUESTA,FLORIDA, AMENDINGTHEFISCALYEAR2019/2020GENERALFUND #001
BUDGET TO RECOGNIZE LEASE PURCHASE PROCEEDS AND ADJUST POLICE CAPITAL
OUTLAY AND DEBT SERVICE ACCOUNTS TO REFLECT THE ACQUISITION OF THREE POLICE
VEHICLES THROUGH ALEASEAGREEMENT WITH ENTERPRISEFLEETMANAGEMENT;
PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
SUMMARY:
The Fiscal Year 2019/20 General Fund Budget currently includes $90,000 for the purchase of two
police vehicles. The Police Department is requesting to lease three vehicles in lieu of purchasing the
two currently budgeted. Leasing the three vehicles over a period of 60 months will result in
FY2019/20 budgetary savings of $71,091 which will be allocated to fund balance. The total
anticipated payment on the lease for FY2019/20 will be $18,909, which represents 10 months of
lease payments. Staff is hereby requesting an amendment to the Fiscal Year 2019/20 General Fund
Budget to reflect the financial impact of the lease transaction.
POTENTIAL MOTION / DIRECTION REQUESTED:
Staff recommends approval of the amended FY2019/20 budget to reflect the lease of three police
vehicles by and between the Village and Enterprise Fleet Management.
ATTACHMENTS:
BUDGET AMENDMENT RESOLUTION POLICE VEHICLES-ENTERPRISE FLEET MGMNT-
RESOLUTION 58-19.ADA
Budget Amendment Exhibit A_12.12.2019_ADA
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Agenda Item #16.
RESOLUTION 58-19
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA, AMENDING THE FISCAL YEAR 2019/2020
GENERAL FUND #001 BUDGET TO RECOGNIZE LEASE PURCHASE
PROCEEDS AND ADJUST POLICE CAPITAL OUTLAY AND DEBT
SERVICE ACCOUNTS TO REFLECT THE ACQUISITION OF THREE
POLICE VEHICLES THROUGH A LEASE AGREEMENT WITH
ENTERPRISE FLEET MANAGEMENT; PROVIDING AN EFFECTIVE
DATE; AND FOR OTHER PURPOSES.
WHEREAS, the Fiscal Year 2019/2020 General Fund Budget currently includes
$90,000.00 for the purchase of two police vehicles;
WHEREAS, the police department is requesting to lease three vehicles in lieu of
purchasing the two currently budgeted in Fiscal Year 2019/2020;
WHEREAS, the Fiscal Year 2019/2020 General Fund Budget will be amended
as specified in the attached “Exhibit A”;
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1:Resolution 58-19, amending the Fiscal Year 2019/2020 General
Fund Budget to recognize lease purchase proceeds and adjust police capital outlay and
debt service accounts to reflect the acquisition of three police vehicles through a lease
agreement with Enterprise Fleet Management is hereby approved;
Section 2:This Resolution shall become effective immediately upon passage.
Page 246 of 294
Agenda Item #16.
cation to fund balance (savings)
roceeds from lease roceeds from vehicle salesolice vehicles (3)
ease Pymts for 10 months
PPPLAllo
EXPLANATION OF CHANGE
,000,000
6,0506,0001 5,4395 8,0503,750
60,00037,10088,30072,00025,4507 1 15,00021,60042,2416 6 86,10086,75070,15025,40080,00063,80006,00019,40096,7919 86,95075,02927,10017,400
4 7 8 1 7 1 2 1 2 3 3 4 1 1 3 2 6 6 4 1 2
,482,400,547,900,162,900,416,424,293,886,405,400
7 1 1 3 4 1
13,818,380 13,818,380
REVISED BUDGET
$
$
-------------------
- - - - - - - - - -
6,5055,6892,1948,9091,091
17
9 1 2
112,194 112,194
INCREASE
(DECREASE)
$ $
1,000 5,000
76,050 16,000 45,736 49,750 68,050 93,750
460,000 737,100 888,300 172,000 725,450 115,000 221,600 286,100 386,750 370,150 425,400 180,000 163,800 306,000 219,400 696,791 686,950 456,120 127,100 146,309
7,482,400 1,547,900 1,162,900 3,394,230 4,293,886 1,405,400
13,706,186 13,706,186
$
$
AMENDED BUDGET
1,000 5,000
76,050 16,000 15,000 49,750 68,050 93,750
460,000 737,100 888,300 172,000 725,450 115,000 221,600 286,100 386,750 370,150 425,400 180,000 163,800 299,200 219,400 680,750 690,650 456,120 127,100 162,350
7,482,400 1,547,900 1,162,900 3,394,230 4,263,150 1,408,500
13,675,450 13,675,450
ORIGINAL BUDGET
$ $
EXHIBIT A - FY2019/2020 BUDGET
FUND 001 - REVENUES General Property Taxes Sales & Use Taxes Franchise fees - gross receipt Licenses & Permits Intergovernmental Revenue Chgs for Serv - Gen Gov Intragovernmental
Revenue Chgs for Serv - Public Safety Charges for Services - Recr. Fines & Forfeitures Unrestricted Investment Earnings Rents & Royalties Impact Fees Other Financing Sources
Miscellaneous Revenues Contributions & DonationsTOTAL REVENUES FUND 001 - EXPENDITURES 100 - Council 110 - Manager 111 - Human Resources 120 - Village Clerk 130 - Finance 140
- Legal 150 - Comprehensive Planning 160 - General Government 161 - IT 175 - Police Department 180 - Building & Zoning 181 - Code Compliance 192 - Fire Control 210 - Public
Works 231 - Leisure Services 700 - Debt Service 900 - Interfund Transfers 950 - Other NonoperatingTOTAL EXPENDITURES
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