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:
|
|
|
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.
|
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. 016-6189-559-8211
Project No. _CRASIG______
WF No. ______________________
Budget _____$16,000
Available ____$16,000 |
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.
__________________________________
Mayor
ATTEST:
_________________________________
City Clerk