TITLE
title
Budget Amendment Realigning Funds From Reserves to Utility Services Expenditure Account Within Village at Hill-N-Dale Street Lighting Municipal Service Benefit Unit for Increased Utilities
body
BRIEF OVERVIEW
The attached budget amendment is to transfer funds from reserves to expenditure account for Utility Services for the Village at Hill-N-Dale Municipal Service Benefit Unit (MSBU). The increased utility billings are due to Withlacoochee River Electric Cooperative (WREC) phasing out older Sodium Vapor fixtures at a monthly cost of $7.68 per light and upgrading the lights to LED style Cobra fixtures at a monthly cost of $10.13 per light within the boundaries of this MSBU and increased. WREC increased their rates by an average of 6% for lighting.
STRATEGIC PLAN INITIATIVES
N/A
FINANCIAL IMPACT
Increase to Utility account and decrease to various expenditure and reserve account within the Village at Hill-N-Dale MSBU fund through the end of FY2025-26.
Increase the following account in the amount of $1,155.00:
Fund: B171-MSBU Lite; Dept: 180-DPW Admin; Account: 534300-Operating-Utility Services
Decrease the following accounts to balance the fund:
Fund: B171-MSBU Lite; Dept: 180-DPW Admin, Account: 599902-Budget Res Other in the amount of $1,095.00
Fund: B171-MSBU Lite; Dept: 180-DPW Admin, Account: 534200-Operating-Freight&Postage Srvs in the amount of $9.00
Fund: B171-MSBU Lite; Dept: 180-DPW Admin, Account: 534900-Operating-Other Charges in the amount of $10.00
Fund: B171-MSBU Lite; Dept: 180-DPW Admin, Account: 534901-Operating-Bank Fees in the amount of $41.00
LEGAL NOTE
The Board has the authority to approve the attached budget amendment pursuant to Chapters 125 and 129, Florida Statutes.
recommendation
RECOMMENDATION
It is recommended the Board approve the attached budget amendment realigning funds from reserves and expenditure accounts to cover the Village at Hill-N-Dale MSBU utility bills.