Ordinance 10-2018 Budget EMERGENCY ORDINANCE NO. 10-2018
AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF
PALM BEACH, PALM BEACH COUNTY, FLORIDA, PROVIDING
FOR AN AMENDMENT TO THE TOWN'S BUDGETS ADOPTED
FOR THE FISCAL YEAR COMMENCING OCTOBER 1,2017, AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, it was necessary for the Town of Palm Beach to adopt budgets for the fiscal
year commencing October 1, 2017; and
WHEREAS, the Town Council of the Town of Palm Beach, Florida, deems it necessary
and appropriate to amend said budgets to provide appropriations adequate for the authorization of
expenditures necessary for conducting Town operations for the fiscal year ending September 30,
2018; and
WHEREAS, the budget amendment is necessary to appropriate funds from the Risk
Fund Reserves and the Health Insurance Fund Reserves to fund the Recreation Enterprise Fund
for the Town's portion of the Recreation Center Project; and
WHEREAS,the budget amendment is necessary to appropriate funds from the Dock
Replacement Reserve within the Recreation Enterprise Fund for permitting, engineering and
design of the Town Dock project; and
WHEREAS, said budget amendments are required to be approved by ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF PALM BEACH, PALM BEACH COUNTY, FLORIDA,AS FOLLOWS:
Section 1. The foregoing recitals are hereby ratified and confirmed.
Page 1 of 2
Ordinance Nn_ 10-201R
Section 2. The Health Insurance Fund, Risk Fund and the Recreation Enterprise Fund
budgets for the fiscal year commencing October 1, 2017,are hereby amended and adopted
pursuant to the attached Exhibit"A", "B"and"C", attached hereto and made a part of this
emergency ordinance.
Section 4. Effective Date. This emergency ordinance shall take effect immediately
upon passage and adoption as provided by law.
PASSED AND ADOPTED in a regular, adjourned session of the Town Council of the
Town of Palm Beach on first and final reading on this l Oh day of July, 2018.
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Gail � . Conig io,May r Danielle H. Moore,Town Council President
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Margare .Zeidma , ouncil President Pro Tem
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Juli r o n Counc 1 Member
ATTEST: Lewis S.W. Cram ton,Town Council Member
Kathleen Dominguez, Town Clerk B ' Lmdsay, Town Council ber
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Page 2 of 2
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Exhibit A
Town of Palm Beach,Florida
Self Insurance Fund-Health
Budget Amendment
October 1,2017-September 30,2018
Adopted Amended
Budget Budget
FY2018 Change FY2018
Revenues
Town and Employee Contributions 4,979,496 - 4,979,496
Intereston Investments 45,000 - 45,000
Total Revenues 5,024,496 - 5,024,496
Expenditures
Salaries and Wages 77,819 77,819
Employee Benefts 4,908,065 - 4,908,065
Contractual 98,113 98,113
Commod ities 2,103 2,103
Other(Contingency) 500,000 500,000
Transferto Recreation Enterprise Fund 2,300,000 2,300,000
Total Expenditures 5,586,100 - 7,886,100
Total Revenues Over/(Under)Expenses (561,604) - (2,861,604)
Beginning Net Assets 6,904,823 6,904,823
Ending NetAssets 6,343,219 4,043,219
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Exhibit B
Town of Palm Beach,Florida
Self Insurence Fund-Risk
Budget Amendment
October 1,2017-September 30,2018
Adopted Amended
Budget Budget
FY2018 Change FY2018
Revenues
Risk Funding 1,828,475 - 1,828,475
Interest on Investments 121,162 - 121,162
Total Revenues 1,949,637 - 1,949,637
Expenditures
Salaries and Wages 129,276 129,276
Employee Benefits 757,245 - 757,245
Contractual 1,558,532 1,558,532
Commodities 4,584 4,584
Other(Contingency) 3,000,000 3,000,000
Transfer to Recreation Enterprise Fund 2,300,000 2,300,000
Total Expenditures 5,449,637 - 7,749,637
Total Revenues Over/(Under)Expenses (3,500,000) - (5,800,000)
Beginning NetAssets 7,578,199 7,578,199
Ending NetAssets 4,078,199 1,778,199
Exhibit C
Town of Palm Beach, Florida
Recreation Enterprise Fund Revenues and Expenses
Budget Amendment
October 1, 2017 through September 30, 2018
Adopted Amended
Budget Budget
FY2018 Change FY2018
Revenues
Charges for Services 6,627,400 6,627,400
Investment Earnings 14,000 14,000
Transfer from Town Reserves 3,263,868 (3,263,868) -
Transfer from Risk Fund - 2,300,000 2,300,000
Transfer from Health Fund 2,300,000 2,300,000
Donations 6,571,154 6,571,154
Total Revenues 16,476,422 1,336,132 17,812,554
Expenses
Salary and Wages 1,392,733 1,392,733
Employee Benefits 656,502 656,502
Contractual 1,523,980 1,523,980
Commodities 363,970 363,970
Capital Equipment 84,000 84,000
Capital Project- Docks - 1,700,000 1,700,000
Capital Project- Recreation Center 9,809,022 9,809,022
Capital Projects -Other 398,489 398,489
Depreciation 1,049,626 1,049,626
Transfer to General Fund 585,000 585,000
Transfer to Debt Service Fund 198,263 198,263
Contingency 168,303 168,303
Total Expenses 16,229,888 1,700,000 17,929,888
Revenues Over/(Under) Expenditures 246,534 1,336,132 1,582,666
Beginning Net Assets 6,167,708 6,167,708
Dock Replacement Reserve 3,801,256 (1,700,000) 2,101,256
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