2024-54 Resolution of the Council, re: FY2024 Parks and Recreation Fund budget adjustments prepared as of June 30, 2024. September 16, 2024

RESOLUTION

OF THE

COUNCIL
2024-54
No: ...

RESOLVED:

For the purpose of meeting funding requirements of specific Parks and Recreation Fund accounts in the FY2024 Approved Budget, the Parks and Recreation Fund as presented in Attachments C – June 30, 2024 are hereby approved.

This resolution shall take effect upon its passage.

SEPTEMBER 16, 2024
READ AND PASSED IN COUNCIL

Wendy J. W. Marshall, MMC
Town Clerk

TOWN OF MIDDLETOWN
TOWN OF MIDDLETOWN PARKS & RECREATION FUND BUDGET ADJUSTMENTS

ATTACHMENT C - June 30, 2024

In accordance with Town Charter and Town Ordinance, adjustments to the FY 2024 budget ordinance are approved as follows:

Budget Adjustment

Parks & Recreation Expenses -
Grants increase by 35,364
Lifeguards increase by 72,234
Security increase by 25,449

Parks & Recreation Revenues -
Other Revenue from Local Sources increase by 26,339
Restricted Grants-in-Aid State Sources increase by 9,994
User & Program Fees increase by 96,714

Parks & Recreation Fund Expenditures Parks & Recreation Fund Revenues Net Budget Adjustments
Dr Cr Dr Cr
$133,047 $0 $0 $133,047
$133,047 ($133,047) $0

TOWN OF MIDDLETOWN
FY2024 BUDGET ADJUSTMENT WORKSHEET - PARKS & RECREATION FUNE
As of June 30, 2024

ATTACHMENT C
Account Description Approved Budget Current Budget Adjustment To Budget Amended Budget Explanation

1 Revenue - Grants - State $0 $0 ($9,994) ($9,994)
State reimbursement for road work done at Second Beach Paving

2 Revenue - Grants - Other Restricted $0 $0 (25,370) ($25,370)
Discover Newport Grant for Beach Concert Series
More weekend sales than anticipated, fee increase occurred in June

3 Revenue - Parking Fees - Weekends ($376,515) ($376,515) (55,350) ($431,865)
More weekday sales than anticipated, fee increase occurred in June

3 Revenue - Parking Fees - Weekdays ($347,555) ($347,555) (11,112) ($358,667)
More resident sales than expected, fee increase occurred in June

4 Revenue - Season Passes - Residents ($320,290) ($320,290) (5,772) ($326,062)
More non-resident sales than expected, fee increase occurred in June

5 Revenue - Season Passes - Non-Residents ($690,910) ($690,910) (24,480) ($715,390)
More non-resident sales than expected, fee increase occurred in June

5 Revenue - Miscellaneous ($350) ($350) ($969) ($1,319) Beach Camera Revenue

S/Total Budget Adjustments From
($133,047)

1 Expense - Grants - Land Improvements $0 $0 9,994 $9,994
State reimbursement for road work done at Second Beach Paving

2 Expense - Grants - Special Events $0 $0 25,370 $25,