TO: Mayor and City Commission
FROM: Douglas E. Smith, City Manager
DATE: November 16, 2016
Title
AN ORDINANCE OF THE CITY OF MARGATE, FLORIDA, AMENDING FISCAL YEAR 2016 BUDGET (ORDINANCE NUMBERS 2015-2 AND 2015-7) AND FISCAL YEAR 2017 BUDGET (ORDINANCE NUMBER 2016-6); PROVIDING FOR REPEAL; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE.
BACKGROUND: Per Florida Statute 166.241, the adopted budget may be revised with a budget amendment approved by the City Commission. The budget amendment increases or decreases the total amount of the adopted budget of each fund. Attached is a budget amendment for fiscal years 2015/2016 and 2016/2017.
The FY 2015/2016 amendment was revised from first reading with changes to column headings, removal of references to revenues/expenditures within each fund section, and changing wording in the Recreation Trust Fund section from Appropriation for Capital Expenditures to Transfer to Capital Improvement Fund.
The 2016/2017 amendment was revised from first reading with changes to column headings, removal of references to revenues/expenditures within each fund section, and adding funding for the City Attorney vehicle purchase adjustment.
First Reading was approved at the November 2, 2016, Regular City Commission Meeting.
RECOMMENDATION: For approval on second reading.
FISCAL IMPACT: The fiscal impact of the budget amendment on each fund is detailed in the back-up of the ordinance.
CONTACT PERSON: Mary Beazley, Finance Director