SUBJECT/RECOMMENDATION:
Title
Approve the fiscal year 2020/21 Annual Capital Improvement Budget, establish a six-year plan for the Capital Improvement Program (CIP) and pass Ordinance 9409-20 on first reading. (APH)
Body
SUMMARY:
In accordance with Chapter 200 of the Florida Statutes and the rules governing Truth in Millage (TRIM) compliance, the City Council must hold two public hearing to adopt the final budget. The adoption of this ordinance and the related ordinances adopting the 2020/21 millage rate and operating budget are an integral part of fulfilling these requirements.
On June 26, 2020, the City Manager provided the City Council with a Preliminary Annual Operating and Capital Improvement Budget that outlined estimates of revenues and expenditures for the 2020/21 fiscal year. The City Manager presented the preliminary budget at the City Council meeting on July 16, 2020, for Council discussion and citizen input. In addition, a Special Budget Work Session was held on July 28, 2020 for Council discussion of the proposed budget.
The following changes have been made to the Preliminary Capital Improvement Budget and are included in the ordinance for adoption of the capital improvement budget.
• The funding for Police District 3 Sub Station was incorrectly posted in fiscal year 2021/22, this interfund loan for $11,000,000 has been moved to fiscal year 2020/21.
• The Police Boat Replacement project has been eliminated. The boat purchase was approved by Council on August 20, 2020, amending the fiscal year 2019/20 budget to purchase with existing special program funds.
• The source of funding for the Auto External Defibrillator Program has been changed from General Fund revenue to Central Insurance Fund revenue.
• In the Spectrum Field Infrastructure Repairs/Improvements project, fiscal years 2023/24 and 2024/25 have been reduced by a total of $1,100,000 to better align future funding with the timing of contract negotiation.
• Stormwater projects have been amended to better align with project funding as planned in the rate study. This results in a decrease in project funding of $1,451,950 for fiscal year 2020/21. For the six-year capital improvement plan (fiscal years 2020/21 through 2025/26), project funding was decreased by a net total of $854,230.
• Water and Sewer projects have been amended to better align with project funding as planned in the rate study. This results in an increase of $9,000,000 to capital project funding in fiscal year 2025/26.
Staff has provided a worksheet detailing these project changes for fiscal years 2020/21 through 2025/26.