MOTION TO APPROVE:  The Amended MTECC Operating Fund Budget and Capital Project Fund for fiscal year 2022-23.

This provides the budget authority for MTECC Operating Fund and Capital Project Fund through the end of fiscal year 2022-23 on September 30, 2023.

The MTECC Operating Fund Budget and MTECC Capital Project Fund for fiscal year 2022-23 has been a work in progress as this has been the first full year of operations for MTECC. Most items have been running much less than expected as items are being implemented during fiscal year 2022-23.

Summaries of adjustments include the following:

• Revenues have been more than expected due to the addition of the City of Coconut Creek during the year.
• Support functions such as finance and accounting, information technology and related administrative activities are being finalized late in the fiscal year, requiring less expenses than expected during the year.
• Program Management Consultant is on board and budget had been adjusted to match the work order for general support services.
• Project activities have begun for Deerfield Beach and Hallandale Beach requiring an advance from the MTECC Operating Fund to the MTECC Capital Projects Fund.  This is funded from a rebate of $25,000.00 for each project from a portion of the initial fee paid by the members to MTECC.

 The key amended line items are highlighted in yellow highlights in the attached Exhibit A on pages 5 and 6.This conforms the fiscal year 2022-23 MTECC Operating Fund and MTECC Capital Projects Fund to expected activity for the year.






 

MTECC staff recommends approval of the amended MTECC Operating Budget and MTECC Capital Project Fund Budget for fiscal year 2022-23.

If you have any questions about this item, please contact Lowell Clary at (850) 212-7772 or lowell.clary@claryconsulting.com.