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P f FLO¢ S <br />C,rp OF St/�+ RSV <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />MEMORANDUM <br />TO: Honorable Mayor and City Commissioners <br />VIA: Stan Morris, City Manager <br />FROM: Tiffany Neely, Finance Director <br />DATE: March 20, 2025 <br />RE: Approval of Budget Amendment No. BA2425-03 for Fiscal Year 2024-2025 <br />RECOMMENDATION: <br />Staff recommends approval of the Ordinance. <br />REASONS: <br />This budget amendment is necessary to record the following transactions: <br />1. Record fund balance carryovers as of 09/30/2024 (unaudited) for all funds. <br />2. Record purchase order carryovers from 09/30/2024 to 10/01/2024 for all funds. <br />3. Record routine transfers between existing budgeted accounts to account for actual expenditure <br />needs for FY 2024-2025. <br />4. Create a new Procurement department (5133) and transfer funds from the Finance department <br />for current procurement staf—f and department expenditures. Allocate additional funds <br />of$162,000 to add one full-time position for a contract compliance specialist and to reclassify <br />Purchasing Manager to Procurement Director. <br />5. Record transfers out of $1.6M from the General Fund to the Streets Fund to cover the Streets <br />Fund purchase order carryovers and reduction in prior year fund balance. <br />6. Allocate $215,000 additional funds for the Gateway Park building restoration per change order #1 <br />with Nunez Construction. <br />7. Record the project budget carryover of $96,000 from 9/30/2024 to 10/01/24 for the PCP closed <br />campus project. <br />8. Record transfers in of $1.6M from the General Fund to the Streets Fund to cover the Streets Fund <br />purchase order carryovers and reduction in prior yearfund balance. <br />9. Reverse budgeted funds to close out the ARPA Fund; 100% of monies have been spent as of <br />Item Number: 8.A <br />5 <br />