TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: A Resolution of the City Commission of the City of North Port, Florida, as the Governing Body of the North Port Road and Drainage District, Amending the North Port Road and Drainage District Budget for Fiscal Year 2023-2024 for Reduction in Project Budgets in the Amount of $2,918,947; Providing for Findings; Providing for Posting; Providing for Conflicts; Providing for Severability; and Providing an Effective Date.
Recommended Action
Adopt Resolution No. 2024-R-43.
Background Information
Pursuant to the Department of Public Works Road and Drainage Fund Replenishment plan, several projects will have a reduction of Road and Drainage funds. These amounts will be returned to the fund balance and, if needed, replaced with Transportation Impact Fee funds in the Fiscal Year 2025 budget.
Project reductions are as outlined in the table below.
|
R20HCI Hillsborough/Cranberry II |
2,475,277 |
|
R20PTS Price Traffic Signal |
60,000 |
|
R23CTI Cranberry/Toledo Blade Improvements |
383,670 |
|
TOTAL |
2,918,947 |
Please note that ARPA funds in the amount of $1,302,285 are currently budgeted in R20HCI. The approved Fiscal Year 2025 budget moves those funds from the Road and Drainage fund to the General fund on October 1, 2024. As a result, the Road and Drainage fund balance will decrease by $1,302,285, leading to a net effect of $1,616,662 after project reductions.
Resolution No. 2024-R-43 has been reviewed by the City Attorney and is legally correct to form.
Strategic Plan
Good Governance
Financial Impact
This will increase the fund balance to the Road and Drainage fund by $2,918,947.
Procurement
Not applicable.
Attachments:
1. Resolution No. 2024-R-43
2. CIP Sheets
3. Fund Balance Report
Prepared by: Lisa Herrmann, Budget Administrator
Department Director: Kim Williams, Finance Director