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Coral Springs approves $4.1 million FY2025 budget amendment on first reading
Summary
The City Commission approved on first reading Ordinance 2025-120, a roughly $4.1 million amendment to close out fiscal year 2025 that adjusts lease-purchase accounting, moves capital funds into debt for body-worn camera purchases, and updates charter school revenue/expense tallies.
The Coral Springs City Commission unanimously approved on first reading Ordinance 2025-120 on Nov. 6, amending the fiscal year 2025 operating budget to record a $4.1 million adjustment tied to GAAP accounting requirements and to reflect charter-school dollars that arrived after the adopted budget.
City finance staff explained the key drivers of the amendment. "We are bringing fiscal year 2025 amendments that are required. We have 60 days to complete these by state law. For the general fund ... it is a $4,100,000 amendment," staff said. The adjustment reflects a lease-purchase that must be recorded in the first year under GAAP; related changes also moved prior capital funds into the debt fund to account for purchase of body-worn cameras.
Staff also described charter-school adjustments, saying the amendment incorporates state Florida Education Finance Program (FEFP) dollars and ESSER (Elementary and Secondary School Emergency Relief) funds that arrived after the original budget. Staff emphasized no general-fund balance or ad valorem taxes are being used for these charter-school adjustments.
The motion to approve was made and seconded prior to a unanimous voice vote. Because this was a first reading, the ordinance will return for a second reading as required by the city’s ordinance-adoption process.
What’s next: The commission set the item for its required second reading; staff will provide any additional documentation required for final adoption.
