Title
RESOLUTION NO. 24R-09-185: A RESOLUTION ADOPTING THE TENTATIVE APPROPRIATIONS FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2024 AND ENDING SEPTEMBER 30, 2025, BASED ON THE BUDGET ESTIMATE OF EXPENDITURES AND REVENUES THAT EQUAL $214,529,820.00; APPROVING THE TENTATIVE OPERATING AND CAPITAL BUDGET FOR THE CITY OF LAUDERHILL FOR THE FISCAL YEAR 2025; PROVIDING FOR AN EFFECTIVE DATE.
Body
Florida State Statue Section 166.241(2) states that “…the budget must regulate expenditures of the municipality, and it is unlawful for any officer of a municipal government to expend or contract for expenditures in any fiscal year except in pursuance of budgeted appropriations.” The approval of this Resolution will result in an amendment to FY 2025 Budget to reflect additional revenues received and expenditures made to ensure compliance with statutory requirements.
Summary Explanation/ Background:
As part of Finances year-end closing procedures, staff performs a review of all budgeted revenues and expenditures to sure-up budget estimates as required by State Statue. As a result, staff is requesting a supplemental appropriation of additional revenue and expenditures in the amount off $214,529,820.00 The recommended adjustments account for additional revenues all ready received.
Attachments:
Supplemental Appropriation/Budget reconciliation
Cost Summary/ Fiscal Impact:
The proposed supplemental appropriation will result in Fiscal Year 2025’s cumulative Budget increasing by $214,529,820.00 in both budgeted revenues and expenditures.
Estimated Time for Presentation:
Master Plan:
Goal 1: Clean, Green Sustainable Environment
[ ] Increase mass transit ridership [ ] Reduce City energy consumption
[ ] Reduce water consumption
Goal 2: Safe and Secure City of Lauderhill
[ ] Crime in lower 50% in Broward [ ] Residents feel safe in neighborhood
[ ] Reduce emergency fatalities
Goal 3: Open Spaces and Active Lifestyle for all ages
[ ] Increase participation in youth sports [ ] Add new park land and amenities
[ ] Increase attendance at cultural programs and classes
Goal 4: Growing Local Economy, Employment and Quality of Commercial Areas
[ ] Increase commercial tax base [ ] Increase employment in Lauderhill businesses
[ ] Decrease noxious and blighted uses in commercial areas
Goal 5: Quality Housing at all Price Ranges and Attractive Communities
[ ] Neighborhood signs and active HOAs [ ] Housing & streets improved, litter reduced
[ ] Increase proportion of single family homes and owner occupied housing
Goal 6: Efficient and Effective City Government, Customer Focused & Values Diversity
[ X ] Improves City efficiency [ ] Increase use of Information Technology
[ X ] Increases residents perception of Lauderhill as an excellent place to live