SUBJECT
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Approve a FY 24/25 unbudgeted fund transfer for expense incurred from Hurricane Milton ($1,702,926.00 one-time transfer)
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DESCRIPTION
The final costs for Roads and Drainage emergency protective measures (Category B), and Roads and Bridges Repair (Category C) are finalized. An unfunded budget transfer is required to cover these expenses until reimbursement is received. Once approved, a transfer will be completed from the Transportation Trust Fund for Category B and C. Reimbursement is expected to occur during the FY 26/27 budget year.
RECOMMENDATION
Request Board approve a one-time FY 24/25 unbudgeted fund transfer in the amount of $1,702,926.00 to cover expenses incurred by Hurricane Milton for damage categories B and C.
FISCAL IMPACT
Upon approval, $1,702,926.00 will be transferred from the Transportation Trust Fund, Reserve for Stabilization to the Transportation Trust Fund, General Capital Account for the FY 24/25 budget year.
CONTACT INFORMATION
Mark Schmitz
Financial Administrator, Roads & Drainage Division
(863) 535-2308
Jay M. Jarvis, PE
Roads & Drainage Division Director
(863) 535-2200