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Home My WebLink AboutDocumentation_Regular_Tab 21_5/11/2023Agenda Item #21 0 Regular Council a STAFF MEMO Meeting: Regular Council -May 11 2023 Staff Contact: Jeffery Snyder, Finance Director Department: Finance LTITLE RESOLUTION NO. 08-23, A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, FLORIDA, AUTHORIZING AN AMENDMENT TO THE FISCAL YEAR 2022/2023 GENERAL FUND BUDGET,; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES. Periodically Staff finds the need to request an amendment to the planned spending budget and increase appropriations, the legal authority to spend money. This is due to emergencies, price increases, new information, or simply costs that were under estimated during the original creation of the budget. Inflation is also adding increased costs to nearly everything purchased. The Village is experiencing increases in the cost of construction projects. A significant portion of the increases to the budget ($653,310 Village wide) are a direct result of price increases. These cost increases are detailed and outlined in Exhibit A attached. This document and any attachments may be reproduced upon request in an alternative format by completing our Accessibility Feedback Form, sending an e-mail to the Village Clerk or calling 561-768- 0443. PROJECT NAME: BUDGET: N/A ENCUMBERED: N/A Proposed: N/A PROJECTED TOTAL: N/A Projected Remaining: N/A Staff Recommends Approving the Budget Amendment #1 RESOLUTION V1 FY 2022-23 BA # 1 Page 579 of 2350 Agenda Item #21 0 RESOLUTION NO.08-23 A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, FLORIDA, AUTHORIZING AN AMENDMENT TO THE FISCAL YEAR 2022/2023 GENERAL FUND BUDGET,; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES. WHEREAS, the Village Council of the Village of Tequesta, Florida has determined that the Budget for Fiscal Year 2021 /2022 should be amended; and, WHEREAS, Florida Statutes, Section 166.241(7) provides that the governing body of each municipality at any time within a fiscal year or within 60 days following the end of the fiscal year may amend a budget for that fiscal year as follows: a) Appropriations for expenditures within a fund may be decreased or increased by motion recorded in the minutes if the total appropriation of the fund is not changed. b) The governing body may establish procedures by which the designated budget officer may authorize budget amendments if the total appropriations of the fund is not changed. c) If a budget amendment is required for a purpose not specifically authorized in paragraph (a) or paragraph (b), the budget amendment must be adopted in the same manner as the original budget unless specified in the municipality's charter.; and, WHEREAS, the Village Council adopted the final budget for Fiscal Year 2021 /2022 through resolution on September 16, 2021; NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS: Section 1 Resolution 08-22, amending the Fiscal Year 2021 /2022 Budget is hereby adopted in accordance with the attached "Exhibit A"' Section 2 This Resolution shall become effective immediately upon passage. Page 580 of 2350 Agenda Item #21 0 E xh b jt'7� " **** GENERAL OPERATING FUND- ann1 **** (A) Human Resources - #111 -Increase Part -Time Salaries and Related Payroll Taxes (Cost increases for new hire working 20 hrs/week at a higher rate than the employee replaced.) -Increase in Investment Income in Excess of Budget (B) Leisure Services - #231 -Increase Special Events - Tequesta Fest (Cost increases for Tequesta Fest due in large part to inflation.) -Increase in Investment Income in Excess of Budget Discussed with Village Council at the December Village Council Meeting (C) Leisure Services - #231 -Increase in General Maintenance (Cost for Damage to the Shade Structure at Skate Park during Hurricane Ian.) -Increase in Investment Income in Excess of Budget (D) Interfund Transfer to the Stormwater Fund #403 -Increase in transfers to Stormwater Fund #403 (Emergency Stormwater repair and cured in place pipe lining due to increased Stormwater pipe failures.) -Utilization of FY 2023-24 ARPA Money from Reserves of General Fund #001 Budget amendment was tenatively approved at the February 9, 2023 Village Council Meeting BUDGET AMENDMENT TOTAL - FUND #001: Use of General Fund Reserves ****CAPITAL IMPROVEMENT FUND #301**** $ 105,500 (A) Non -Departmental - Transfer to Fund #403 -Increase interfund transfer to the Stormwater Fund #403 $ 111,030 (El Portal Stormwater Improvement Project came in over the estimated costs. This is using money set aside for capital projects - Water Utility Tax) -Use of Undesignated Reserves $ 111,030 Budget amendment is to be discussed at the May 11, 2023 Village Council Meeting. BUDGET AMENDMENT TOTAL - FUND #301 $ 111,030 $ 111,030 Use of Capital Improvement Fund Reserves $ 111,030 Page 1 Page 581 of 2350 Agenda Item #21 0 (A) Water Fund Administration #241 -Increase Other Contractual Services (Unaniticpated price increases in all the chemicals used to produce water) -Increase in Investment Income in Excess of Budget Discussed the price increase with Village Council at the November 10, 2022 Village Council Meeting (B) Water Fund Production #242 -Increase Water Chemicals (Unaniticpated price increases in all the chemicals used to produce water) -Use of Reserves Discussed the price increase with Village Council at the November 10, 2022 Village Council Meeting (C) Water Fund Renewal & Replacement #243 -Increase Vehicles (Water Distribution replacement of UD65 F-150 w. utility storagae) -Increase in Monthly Service Charges in Excess of Budget Budget amendment was tenatively approved at the January 12, 2023 Village Council Meeting (C) Water Fund Customer Service #244 -Increase in Other Miscellaneous Charges & Obligations (Hiring cost for new Customer Customer Service Representative) -Increase in Monthly Service Charges in Excess of Budget (D) Water Fund Renewal & Replacement #411 -Increase Architect & Engineering (County Line Road Bridge Water Main Relocation Project engineering work came in well over the estimated costs due to permi -Increase in Monthly Service Charges in Excess of Budget Budget amendment was tenatively approved at the April 13, 2023 Village Council Meeting BUDGET AMENDMENT TOTAL - FUND #178 Use of Water Fund Unrestricted Reserves 53,250 O' •41 (A) Interfund Transfer from the General Fund #001 -Increase in Drainage Maintenance Stormwater Fund #403 (Emergency Stormwater repair and cured in place pipe lining due to increased Stormwater pipe failures.) allocation necessary to complete this project) -Increase interfund transfer from the General Fund #001 Budget amendment was tenatively approved at the February 9, 2023 Village Council Meeting. (B) Interfund Transfer from the Capital Improvement Fund #301 -Increase in Drainage Maintenance Stormwater Fund #403 (El Portal Stormwater Improvement Project came in well over the estimated costs. This is an advance of FY 2023-24 ARPA func allocation necessary to complete this project) -Increase interfund transfer from the Capital Improvement Fund #301 Budget amendment is to be discussed at the May 11, 2023 Village Council Meeting. BUDGET AMENDMENT TOTAL - FUND #401 Total Use of Reserves 269,780 BUDGET AMENDMENT #1 GRAND TOTAL/NET INCREASE TO BUDGET $ 653,310 $ 653,310 Page 2 Page 582 of 2350