GREATER LEESBURG

COMMUNITY REDEVELOPMENT AGENCY

 

AGENDA MEMORANDUM

 

 

Meeting Date: October 11, 2010

 

From: Bill Wiley, AICP, Community Development Director

Jerry Boop, CPA, CGFO, Finance Director

 

Subject: Resolution Amending reclassifying expenditures for the Fiscal Year 2010-11 Budget for the Greater Leesburg Community Redevelopment Agency Fund

 

Staff Recommendation:

Staff recommends adopting the attached resolution amending reclassifying expenditures for the Fiscal Year 2010-11 budget for the Greater Leesburg Community Redevelopment Agency to fund the Matching Sign Grant Program for the GLCRA.

 

Analysis:

The matching sign grant program was approved by the Greater Leesburg CRA at its regular meeting held on September 13, 2010. As the fiscal year 2010-11 budget has been formally adopted, this resolution seeks approval to use $16,000 of the funds available from the Reserve for Future Use category which currently has an available budget of $178,830. Designating $16,000 for the matching sign grant program would leave a remaining balance in the Reserve for Future Use line item of $162,830.

This budget adjustment is required due to the following changes:

 

Amount

Source

Matching Sign Grant Program                    $16,000          Fund Balance

 

            Total Greater Leesburg Community Redevelopment Agency $16,000

 

Options:

1. Adopt the attached resolution authorizing the use of and amending reclassification of $16,000 from Reserve for Future Use and making it available for expenditure under the matching sign grant program in the fiscal year 2010-11 budget for the Greater Leesburg Community Redevelopment Agency GLCRA.; or

 

2. Such alternative action as the Commission may deem appropriate

 

Fiscal Impact:

The GLCRA district will have a negative impact on their annual budget because of do to the cost of the program.The source and reclassification of funds from the Reserve for Future Use line item to fund the matching sign grant is an appropriate use. Reclassification of $16,000 for the matching sign grant program would leave a remaining balance in the Reserve for Future Use line item of $162,830. This reclassification does not change the total budgeted appropriations of $422,429 for the 2010-11 budget which was formally adopted on September 13, 2010.

 

 

 

 

 

 

Submission Date and Time: 10/8/10 3:50 PM10/5/10 9:00 AM10/5/10 7:41 AM10/4/10 12:10 PM____

Department: Community Development

Prepared by: Bill Wiley, AICP

Attachments: Yes__X_ No ______

Advertised: ____Not Required ______

Dates: __________________________

Attorney Review : Yes_X_ No ____

_________________________________

Revised 6/10/04

 

Reviewed by: Dept. Head __BW_____

 

Finance Dept. ____________JB______

Deputy C.M. ___________________

Submitted by:

City Manager ___________________

 

Account No. 016-6189-559-821199-10_________________

 

Project No. _CRASIG__________________

 

WF No. ______________________

 

Budget _____$16,000178,830_________________

 

Available ____$16,00078,830_________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RESOLUTION NO.________

 

A RESOLUTION OF THE GREATER LEESBURG COMMUNITY REDEVELOPMENT AGENCY APPROVING THE AMENDED RECLASSIFICATION OF FUNDS FOR THE FISCAL YEAR 2010-11 BUDGET; APPROPRIATING CERTAIN FUNDS TO SPECIFIC REDEVELOPMENT PROJECTS; AND PROVIDING AN EFFECTIVE DATE.

 

BE IT RESOLVED BY THE GREATER LEESBURG COMMUNITY REDEVELOPMENT AGENCY:

 

            THAT the Fiscal Year 2010-11 Budget amendment reclassification is hereby adopted and ratified;

 

            THAT the following appropriations from the Redevelopment Trust Fund are made:

 

  Amount

Source

Matching Sign Grant Program            $16,000          Fund BalanceReserve for Future Use

 

           

 

            THAT this resolution shall become effective immediately.

 

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _11th____ day of _October_ 2010.

 

 

 

                                       ญญญ__________________________________

                                                                             Mayor

 

ATTEST:

 

 

_________________________________

City Clerk