AGENDA REPORT
DATE: January 27, 2025
TO: City Commission
FROM: Bill McDaniel, City Manager
SUBJECT: Budget Amendment for Fiscal Year 2024-25
EXECUTIVE SUMMARY:
On October 9 - 15, 2024, the EOC staff monitored Hurricane Milton and responded to several emergency situations. Initial debris clean up began on October 11, 2024. The City was authorized for expedited reimbursements for payroll costs associated with emergency protection and response, and debris removal and disposal costs. On December 10, 2024, the City received $1,885,000 of the $2,495,198.32 to cover 50% of these costs. Based on review of the damage cost incurred by the City and estimated costs to repair the damaged property, a budget adjustment has been prepared to provide budget allocation for these costs. The majority will be covered by Federal and State FEMA reimbursement. A minimal amount estimated to be $120,000 for all funds can be absorbed within the 2025 budget. This adjustment impacts the following funds.
• General Fund - $2,426,637
• Street Fund - $105,828
• CRA Fund - $8,243
• Water/Sewer Fund - $776,758
• Solid Waste Fund - $3,072,431
RECOMMENDATION:
That the City Commission adopt a resolution to approve an amendment to the budget for the year ending September 30, 2025, which provides for the above adjustment.
FISCAL IMPACT:
Details related to these items are listed on the attached resolution.
Prepared by: Diane Reichard, Chief Financial Officer