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Commission adopts $18.5 million quarterly budget amendment, staff says change improves transparency
Summary
The New Smyrna Beach City Commission on July 22 adopted a quarterly FY25 budget amendment that recognizes $18.5 million in adjustments (carryforward and grant recognition) intended to improve transparency; staff said the change primarily recognizes prior‑year funds rather than new recurring revenue.
The City Commission unanimously adopted Resolution O‑8‑25 on July 22, approving a quarterly amendment to the fiscal year 2025 budget that staff said reflects a net increase of $18,500,000 and recognizes prior‑year carryforward funds and anticipated grant proceeds.
Director (finance) explained the change is primarily an accounting and transparency measure: for the first time the city is budgeting full carryforward amounts that were previously only partially recognized, and is recognizing anticipated grant proceeds up front (staff cited $11,200,000 in grant proceeds as part of the change). The director said these are existing cash resources ‘‘in the bank’’ rather than newly acquired revenue.
Highlights from the staff presentation included a general fund increase of about $15,900,000 tied to carryforward and reimbursements, reserves being adjusted to meet the city’s reserve policy, and fund‑by‑fund changes to reflect prior‑year activity across stormwater, airport, impact fee, parking, CRA, debt service and capital funds. Staff also noted reductions in interfund transfers, capital project draws and loan proceeds offset parts of the amendment.
Commissioners asked for context and were referred to a prior budget workshop recording that drills into line‑by‑line details; one commissioner stressed this was a one‑time reflection of methodology change rather than an open‑ended authority to continually amend in this fashion.
Vote: the resolution passed on a roll call vote with all commissioners recorded in favor.
What’s next: staff will continue the planned budget presentation materials and workshops to help the public review the line‑by‑line details; the amendment is effective as of June 30, 2025, per the staff recommendation.
