COMMUNITY REDEVELOPMENT AGENCY
Meeting Date: December 12, 2011
From: Bill Wiley, AICP, Community Development Director
Subject: Resolution reclassifying expenditures for the Fiscal Year 2011-12 Budget for
the Greater Leesburg Community Redevelopment Agency Fund
Staff recommends adopting the attached resolution reclassifying expenditures for the Fiscal Year 2011-12 budget for the Greater Leesburg Community Redevelopment Agency to fund the Matching Sign Grant Program for the GLCRA.
The matching sign grant program was approved by the Greater Leesburg CRA at its regular meeting held September 13, 2010, and October 11, 2010, the GLCRA designated $16,000 for the program. As the fiscal year 2011-12 budget has been formally adopted, this resolution seeks approval for this fiscal year to use $16,000 of the funds available from fund balance which currently has an estimated balance of $44,472. Designating $16,000 for the matching sign grant program would leave an estimated amount remaining in fund balance of $28,472.
Reconciliation of amount available in fund balance:
Unaudited 2010-11 Fund Balance $ 357,180
Amount needed for Streetscape (127,683)
Appropriated 2011-12 Budget (185,025)
Additional Signage ( 16,000)
Estimated amount Remaining 28,472
1. Adopt the attached resolution authorizing the use of and 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 2011-12 budget for the Greater Leesburg Community Redevelopment Agency GLCRA.; or
2. Such alternative action as the Commission may deem appropriate
The source and reclassification of funds from fund balance to continue funding the matching sign grant is an appropriate use. Appropriating $16,000 for the matching sign grant program would leave an estimated balance remaining in fund balance of $28,472.
Submission Date and Time: 12/12/11 1:46 PM____
Department: Community Development
Prepared by: Bill Wiley, AICP, Jerry Boop, CPA, CGFO
Attachments: Yes__X_ No ____
Advertised: ____Not Required ____
Attorney Review : Yes_X_ No __
Reviewed by: Dept. Head BW/__
Finance Dept. _____ _________
Deputy C.M. ___________________
City Manager ___________________
Account No. 016-6189-559-8211
Project No. CRASIG
WF No. ______________________
A RESOLUTION OF THE GREATER LEESBURG COMMUNITY REDEVELOPMENT AGENCY APPROVING THE RECLASSIFICATION OF FUNDS FOR THE FISCAL YEAR 2011-12 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
THAT the following appropriations from the Redevelopment Trust Fund are made:
Matching Sign Grant Program $ 16,000 Fund Balance
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 12th day of December, 2011.
THE CITY OF LEESBURG, FLORIDA