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Holly Springs council adopts 2024 budget amendments, cites vehicle purchases and SPLOST adjustments
Summary
Council approved FY2024 budget amendments that increased the general fund by $5.15 million to account for capital leases, vehicle acquisitions and reallocations across SPLOST and other funds; staff said the audit begins next week.
At the April 21 meeting, Holly Springs city staff presented detailed amendments to the FY2024 budget and the City Council voted unanimously to adopt the changes.
Rob, a city staff member who presented the proposals, said the changes follow accrual adjustments and receipt of equipment ordered earlier: "So we are to the point that we're ready to make the recommended changes to our 2024 budget," he said. The council approved the ordinance adopting those amendments.
Major items summarized by staff included a $5,150,000 net increase to the general fund driven by revenue and expenditure reclassifications and capital leases; a $1,119,800 increase in capital assets for police vehicles (two years' worth of vehicles arrived and are on capital lease); and reallocation within SPLOST funds and the Town Center project (staff reduced previously budgeted Town Center fund figures to reflect actual spending through 12/31/2024). Staff also noted ARPA (American Rescue Plan Act) funds remain budgeted at $2,000,000 with line-item reallocation to account for stormwater spending.
Staff provided fund-level detail: a parks and recreation amended fund total of $1,005,000, depot renovation expenses of $152,000 and various sidewalk and site-improvement amounts. The tax allocation district revenue increased in the closeout numbers (from $446,112 originally to $605,115 actual receipts). For SPLOST 6, staff listed specific expenditures to date (examples: $825,000 on LMIG funds, $582,000 on Holly Springs Parkway phase 2, $720,000 on phase 3, and other line items) and noted remaining bond cash in the URA (~$7,000,000).
Staff said the City's audit will begin next week and that the amendments reflect year-end accruals and received assets.
The ordinance passed on a unanimous vote recorded in the transcript as "Motion passes 5 0." The council directed staff to proceed with the amended budget as presented and to continue required reporting to the council and auditors.
Next step: Staff will implement the approved budget revisions and continue reporting to the city council and auditors during the audit process.
