MOTION TO APPROVE: Approval of the General Fund Budget and Capital Project Fund Budget for fiscal year 2025-26.

This provides the budget authority for MTECC General Fund and Capital Project Fund through the end of fiscal year 2025-26, beginning October 1, 2025.

The MTECC General Fund Budget and MTECC Capital Project Fund for fiscal year 2025-26.
 
Summaries of adjustments include the following:
 
General Fund – The General Fund provides budget for annual operations of MTECC.
 

• Revenues are running at expected levels based on assessments to the MTECC member cities. 
• Support functions such as finance and accounting, information technology and related administrative activities are in line with support needs to operate MTECC.  These amounts were lower than budget in fiscal year 2024-25 and will be in line with budget expectations in fiscal year 2025-26 based on negotiated and executed contracts.
• Program Management Consultant has run much less than budgeted in fiscal year 2024-25, for general support activities for MTECC.  As expected, the bulk of Program Management expenses are project specific and being paid as part of the budget for each project.  Based on this the amount budgeted for fiscal year 2025-26 in the General Fund has been significantly reduced compared to fiscal year 2024-25.
• The Executive Director activities have increased.
• The Legal Services activities have been less than expected so the budget has been decreased.
• Procurement services have increased with project activities so the budget for procurement has been increased.
• Board activities and Other Expenses have consistently been less than budgeted so these items have been reduced.
• Overall the budgeted expenses for the General Fund were reduced from $346,000 in fiscal year 2024-25 to $304,500 for fiscal year 2025-26.
• The overall budgeted fund balance is expected to increase by $18,190

Capital Projects Fund – The Capital Projects Fund provides budget for projects being implemented on behalf of MTECC member cities. Active projects in the Capital Projects Fund are shown below.  Project budgets are multi-year and continue in the Capital Projects Fund until the project is completed.
 

• Coconut Creek Lyons Road Lightning Project – the project is in the design phase with design to be completed in fiscal year 2025-26.  Lighting fixtures (poles and mast heads) are being purchased in advance of construction to save on the sales tax.  The lighting fixtures will be stockpiled on City of Coconut Creek land to be available for the construction contractor.  The lighting fixtures and construction are expected to begin in fiscal year 2025-26.  This project is funded through a U.S. Housing and Urbank Development grant through Broward MPO.
• Pembroke Pines Mobility Hub – the project is in the design phase with the design expected to be completed in fiscal year 2025-26.  It is expected the project will be in construction late in fiscal year 2025-26, or in early fiscal year 2026-27.  This project is funded through a U.S. Department of Transportation Federal Transit Administration grant through Broward MPO.
• Fort Lauderdale SE 17^th Street Mobility Hub – the project is in the design phase which will continue in fiscal year 2025-26.  It is expected the design will continue into early fiscal year 2026-27 and start construction in fiscal year 2026-27.  This project is funded through a U.S. Department of Transportation Federal Transit Administration grant through Broward MPO.
• Any new projects that are requested by a MTECC member city will be amended into the Capital Projects Fund at the time the Project Agreement is approved by the MTECC Board.

 
The proposed fiscal year 2025-26 budget line items are highlighted in yellow highlights in the attached Exhibit A on pages 6 through 8.

Recommend approval of the proposed MTECC General Fund Budget and MTECC Capital Project Fund Budget for fiscal year 2025-26.
 

If you have any questions about this item, please contact Lowell Clary at (850) 212-7772 or claryl@mteccfl.org