Statura IntelligenceAmend 2024-2025 operating and capital budget with mid-year transfers
Ask Statura about this item
What this item does, why it matters to your business, and what to watch next, in plain English. Follow-ups stay in the same thread.
Lifecycle
Item text
ORDINANCE NO. 2025- AN ORDINANCE OF THE VILLAGE OF PINECREST, FLORIDA, AMENDING THE 2024-2025 OPERATING AND CAPITAL OUTLAY BUDGET (3rd QUARTER); PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the 2024-2025 Operating and Capital Budget was adopted pursuant to the Village Charter and state law and was based upon estimates of revenues and expenses in various categories; and WHEREAS, the…
Show the full text (4K chars)
ORDINANCE NO. 2025- AN ORDINANCE OF THE VILLAGE OF PINECREST, FLORIDA, AMENDING THE 2024-2025 OPERATING AND CAPITAL OUTLAY BUDGET (3rd QUARTER); PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the 2024-2025 Operating and Capital Budget was adopted pursuant to the Village Charter and state law and was based upon estimates of revenues and expenses in various categories; and WHEREAS, the Village Manager is recommending that the Village Council approve a transfer of funds for the 2024-2025 Operating and Capital Budget and said action requires a budget amendment;
NOW, THEREFORE,
BE IT ORDAINED BY THE VILLAGE COUNCIL OF PINECREST, FLORIDA, AS FOLLOWS: Section 1. Operating and Capital Budget of the Village of Pinecrest for Fiscal Year 2024-2025 is hereby amended as follows: -2- Section 2. This ordinance shall become effective upon adoption on second reading. PASSED on first reading this 15th day of July, 2025. PASSED AND ADOPTED on second reading this th day of , 2025. Joseph M. Corradino, Mayor -3- Attest: Priscilla Torres, MMC Village Clerk Approved as to Form and Legal Sufficiency: Mitchell Bierman Village Attorney Motion on Second Reading by: Second on Second Reading by: Vote: DATE: July 1, 2025 TO: Yocelyn Galiano, ICMA-CM, Village Manager FROM: Marie Arteaga-Nariño, MBA, Finance Director RE: Budget Amendments, Q3 FY2025 Article 4,
7, Subsection (a) of the Village’s Charter provides the adoption of an ordinance as the mechanism for supplemental appropriations to be made during any fiscal year. Below is a description of each recommended budget amendment for your consideration: 1. Public Works Capital Funds: Additional funding of $720,000 is requested for the capital funds improvement for the Kendall Shared Use Path. The FDOT Transportation Alternative grant has been secured for this project for this amount. Revenue Source Amount Expenditure Item Description FDOT Grant $720,000 Improvements Other than Building, Public Works Capital Kendall Shared Use Path grant funding 2. Village Council: The Bike Minded Consulting firm was contracted for the Bike Path Initiative. Additional funding of $28,450 in the professional services line item is requested as approved by consensus on May 22, 2025, Village Council meeting. Revenue Source Amount Expenditure Item Description General Fund Reserve $28,450 Professional Services, Village Council Bike Path Initiative 3. Parks Capital Funds: Additional funding of $153,595 and $9,225,000 is required to cover the unbudgeted expenditures for the Coral Pine Phase 2 and Aleyda Mas improvements. These projects are funded by the issuance of the 2025 $15 million bond issuance. However, the projects were originally slated for construction in 2026. The funds are available in 2025, and the work is scheduled to begin in the current fiscal year. Revenue Source Amount Expenditure Item Description 2025 $15,000,000 bond offering $153,595 $9,225,000 Coral Pine Phase 2 Aleyda Mas Improvements Acceleration of bond proceeds usage to Fiscal Year 2025 4. Capital Fund: Additional funding is required to cover the over budget amount of $152,289 for the bond issuance costs. The Village issued a bond for the purchase of capital improvements; however, the bond issuance costs were $302,288.40 and the budget figure was $150,000. The loan was issued in May 2025. This amendment will require a general funds transfer to the Capital Fund. Revenue Source Amount Expenditure Item Description General Fund Reserve $152,289 Bond issuance costs Bond issuance costs were higher than budgeted. 5. Pinecrest Gardens: Additional funding is requested for Zoo Solutions to perform a feasibility study for an aviary at Pinecrest Gardens. Additional funding of $28,450 in the professional services line item is requested as approved by consensus at the February 11, 2025, Village Council meeting. Revenue Source Amount Expenditure Item Description General Fund Reserve $28,450 Professional services Aviary Feasibility Study at Pinecrest Gardens
Official documents
City legislative record from the city's public agenda system. The Ask-Statura brief is an automated interpretation grounded in this item's metadata, not legal advice.