ORD-MC Pertaining to the Annual Budget Proposal; Amend Sec 106.106 (Balanced Budget & Budget Stabilization Reserve), Pt 1 (General Provisions), Ch 106 (Budget & Accounting Code), Ord Code, to Prov that the Annual Budget Proposal shall not be Considered a Bal Budget if it Fails to Contain a Non-Debt Funded Approp for Each Unfunded Completion Grant or Similar Financial Incentive Expected to Become Payable During the FY of the Proposed Budget; Prov for Codification Instructions (Staffopoulos) (Introduced by CM Miller) (Co-Sponsors CMs Clark-Murray, Gay, Boylan, Amaro, J. Carlucci, Howland, Salem, Arias, Lahnen, Diamond & Pittman) 2/10/26 CO Introduced: NCSPHS, F 2/17/26 NCSPHS Read 2nd & Rerefer 2/18/26 F Read 2nd & Rerefer 2/24/26 CO PH Read 2nd & Rerefer 3/2/26 NCSPHS Amend/Approve 7-0 3/3/26 F Amend/Approve 7-0 3/10/26 CO Amend/Approve 18-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/24/26

This ordinance, Ordinance 2026-102-E, amends the City's Budget and Accounting Code to redefine what constitutes a "balanced budget." Specifically, it mandates that an annual budget proposal will not be considered balanced if it fails to include a non-debt funded appropriation for every unfunded completion grant or similar financial incentive that is scheduled to become payable during the upcoming fiscal year.

Key Provisions:

• Mandatory Funding for Incentives: The core change requires that all anticipated completion grants and financial incentives must be budgeted for and funded (without using debt) in the year they are due.
• Purpose: The intent is to ensure that the budget adequately accounts for these financial obligations upfront, preventing the need to dip into operating reserves or other funds later in the fiscal year.
• Fiscal Impact: The ordinance itself has no direct cost to the City, but it imposes a requirement on the budget process to account for these specific types of expenditures.

Legislative History:

• Introduced by CM Miller on February 10, 2026.
• Co-sponsored by numerous Council Members.
• Amended by the Finance Committee to specify "non-debt funded" and "unfunded" incentives.
• Approved by committees: NCSPHS (7-0), F (7-0), and CO (18-0).
• Public hearing held on February 24, 2026.
• Final Council approval on March 10, 2026.