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Budget Resolution for Reimbursement of Various Administrative Charges From Capital Municipal Service Benefit Unit Funds to Transportation Trust and Constitutional Gas Tax Funds and Close-Out of Sixteen Municipal Service Benefit Unit Funds
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BRIEF OVERVIEW
The Department of Public Works currently has 16 Municipal Service Benefit Unit’s (MSBU’)s that have completed their non-ad valorem assessment collection period and debt service payments, and now require the MSBU Fund be closed-out. County Policy 16-1, IV, H provides that:
“In the case when an individual MSBU is closed-out, residual monies remaining in the Fund totaling 10% or more of the original up-front budget will all be refunded back to the property’s current owner of record as originally assessed, i.e., per lot, front footage, parcel, etc., unless the refund amount is less than $500.00. Any residual monies remaining in the fund totaling less than 10% of the original up-front budget will be transferred to the affected department, i.e., Transportation, Utilities, Fire, etc. Any shortages of monies within an individual MSBU Fund at close-out shall be transferred from the affected department into the MSBU Fund.”
However, because of an arbitrage review in 2016 stating only debt service charges are allowable expenditures under capital-type MSBUs, Financial Services recommended that all operating account budgets be realigned into a transfer account to reimburse either the Transportation Trust or Constitutional Gas Tax Fund that is now being directly charged for these annual recurring operating expenditures. These operating charges have since been estimated and included within the debt service loan of new MSBU Funds. However, the transfer of funds to reimburse the Transportation and Gas Tax Funds directly charged for the various operating cost has not been processed since the arbitrage issue arose. This reimbursement will be remedied with approval of the attached budget resolution realigning funds from MSBU reserves into a transfer account.
After the MSBU operating charges are reimbursed to appropriate Fund, four of the 16 MSBU Funds being closed out have surplus monies that will require reimbursing the current owner of record within the MSBU’s boundary and the remaining nine will be transferred to either the Transportation Trust Fund or Constitutional Gas Tax Fund.
FINANCIAL IMPACT
Funding for the close-outs is available within following accounts with approval of the attached budget resolution realigning $292,271.00 from reserves into appropriate transfer account.
Revenue:
Fund: 1011-Transportation Trust, Account: 3817000-Transfer/Misc MSBU Funds (+$16,977)
Expense:
Fund: 1011-Transportation Trust, Dept: 03151-TTF Debt Srv/Trsf/Rsv, Account: 5909910-Budget Reserves for Contingency (+$16,977)
Fund: 7033-State Road Canal, Dept: 09033-State Road Canal MSBU, Account: 5910110-Transfer-DPW (1011) (+$16,977)
Fund: 7033-State Road Canal, Dept: 09033-State Road Canal MSBU, Account: 5909910- Budget Reserves for Contingency (-$16,977)
Revenue:
Fund: 1013-Constitutional Gas Tax, Account: 3817000-Transfer/Misc MSBU Funds (+$275,294)
Expense:
Fund: 1013-Constitutional Gas Tax, Dept: 03151-Debt Srv/Resv, Account: 5909910- Budget Reserves-Capital Improv Project (+$275,294)
Fund: 7944-Ryl Hghlnds A Paving, Dept: 09944-Ryl Hghlnds A Paving, Account: 5910130-Transfer-Const Gas Tax (+$19,954)
Fund: 7944-Ryl Hghlnds A Paving, Dept: 09944-Ryl Hghlnds A Paving, Account: 5909910-Budget Reserves for Contingency (-$19,954)
Fund: 7978-English Sparrow Paving, Dept: 09978-English Sparrow Paving, Account: 5910130-Transfer-Const Gas Tax (+$26,587)
Fund: 7978-English Sparrow Paving, Dept: 09978-English Sparrow Paving, Account: 5909910-Budget Reserves for Contingency (-$26,587)
Fund: 7979-Flock W Paving, Dept: 09979- Flock W Paving, Account: 5910130-Transfer-Const Gas Tax (+$9,036)
Fund: 7979-Flock W Paving, Dept: 09979- Flock W Paving, Account: 5909910-Budget Reserves for Contingency ($-9,036)
Fund: 7982-Flatwood Paving, Dept: 09982-Flatwood Paving, Account: 5910130-Transfer-Const Gas Tax (+$20,402)
Fund: 7982-Flatwood Paving, Dept: 09982-Flatwood Paving, Account: 5909910-Budget Reserves for Contingency (-$20,402)
Fund: 7983-Lomita Wren Paving, Dept: 09983-Lomita Wren Paving, Account: 5910130-Transfer-Const Gas Tax (+$16,419)
Fund: 7983-Lomita Wren Paving, Dept: 09983-Lomita Wren Paving, Account: 5909910-Budget Reserves for Contingency (-$16,419)
Fund: 7984-Marvelwood Paving, Dept: 09984-Marvelwood Paving, Account: 5910130-Transfer-Const Gas Tax (+$36,277)
Fund: 7984-Marvelwood Paving, Dept: 09984-Marvelwood Paving, Account: 5909910-Budget Reserves for Contingency (-$36,277)
Fund: 7985-Phillips Paving, Dept: 09985-Phillips Paving, Account: 5910130-Transfer-Const Gas Tax (+$27,159)
Fund: 7985-Phillips Paving, Dept: 09985-Phillips Paving, Account: 5909910-Budget Reserves for Contingency (-$27,159)
Fund: 7986-Flicker Paving, Dept: 09986-Flicker Paving, Account: 5910130-Transfer-Const Gas Tax (+$12,827)
Fund: 7986-Flicker Paving, Dept: 09986-Flicker Paving, Account: 5909910-Budget Reserves for Contingency (-$12,827)
Fund: 7987-Phillips E Paving, Dept: 09987-Phillips E Paving, Account: 5910130-Transfer-Const Gas Tax (+$17,472)
Fund: 7987-Phillips E Paving, Dept: 09987-Phillips E Paving, Account: 5909910-Budget Reserves for Contingency (-$17,472)
Fund: 7988-Puffin Paving, Dept: 09988-Puffin Paving, Account: 5910130-Transfer-Const Gas Tax (+$10,377)
Fund: 7988-Puffin Paving, Dept: 09988-Puffin Paving, Account: 5909910-Budget Reserves for Contingency (-$10,377)
Fund: 7989-Grass Finch Paving, Dept: 09989-Grass Finch Paving, Account: 5910130-Transfer-Const Gas Tax (+$13,441)
Fund: 7989-Grass Finch Paving, Dept: 09989-Grass Finch Paving, Account: 5909910-Budget Reserves for Contingency (-$13,441)
Fund: 7990-Harris Hawk Paving, Dept: 09990-Harris Hawk Paving, Account: 5910130-Transfer-Const Gas Tax (+$18,589)
Fund: 7990-Harris Hawk Paving, Dept: 09990-Harris Hawk Paving, Account: 5909910-Budget Reserves for Contingency (-$18,589)
Fund: 7991-Ostrom Wy Paving, Dept: 09991-Ostrom Wy Paving, Account: 5910130-Transfer-Const Gas Tax (+$20,082)
Fund: 7991-Ostrom Wy Paving, Dept: 09991-Ostrom Wy Paving, Account: 5909910-Budget Reserves for Contingency (-$20,082)
Fund: 7993-Benes Roush Paving, Dept: 09993-Benes Roush Paving, Account: 5910130-ransfer-Const Gas Tax (+$12,084)
Fund: 7993-Benes Roush Paving, Dept: 09993-Benes Roush Paving, Account: 5909910-Budget Reserves for Contingency (-$12,084)
Fund: 7996-Helen/Allen Paving, Dept: 09996-Helen/Allen Paving, Account: 5910130-Transfer-Const Gas Tax (+$14,588)
Fund: 7996-Helen/Allen Paving, Dept: 09996-Helen/Allen Paving, Account: 5909910-Budget Reserves for Contingency (-$14,588)
LEGAL NOTE
The Board has the authority to act on this matter pursuant to Chapter 125, Florida Statutes.
recommendation
RECOMMENDATION
It is recommended that the Board approve and authorize the Chairperson’s signature on the attached budget resolutions allowing the reimbursement of administrative fees be reimbursed to Transportation Trust and Constitutional Gas Tax Funds, with the balance of each Fund be transferred to the current benefitting property owner of record or back to the funding source of associated project to close-out the 16 MSBU Funds.