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19-03RESOLUTION NO 19-03 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA, ADOPTING THE CRA FY2018/19 AMENDMENTS TO ANNUAL OPERATING BUDGET; PROVIDING AN EFFECTIVE DATE. WHEREAS, the Community Redevelopment Agency (CRA) annual budget requirements have been clarified and Section 189.418(3), of the Florida Statutes require that CRA's adopt their annual budgets by resolution; now, therefore, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA: Section 1. Adopt the FY2018/19 AMENDMENTS TO CRA Operating Budget as outlined on Exhibit A. Section 2. This resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this 16th day of September 2019. Approved as to form: Michael Fuino CRA Attorney George N. Cretekos Chairman Attest: .62/ To(' Rosemarie Call City Clerk ���i & OORPOR6.ATF e( a % SEAL O ',; •••••••• 1)i �. Resolution No. 19-03 Community Redevelopment Agency EXHIBIT A Third Quarter Review FY 2018/19 Revenue/ Third Quarter Adopted Expenditures Proposed Amended Amend Budget To Date Amendments Budget Ref Revenues & Transfers In Tax Increment Financing Revenues 338930 Pinellas County 1,602,371 1,602,618 247 1,602,618 1 381115 City of Clearwater 1,539,879 1,779,126 239,247 1,779,126 1 381116 Downtown Development Board 274,651 274,822 171 274,822 1 Total TIF Revenues 3,416,901 3,656,566 239,665 3,656,566 Other Revenues 361101 Interest Earnings 50,000 159,842 149,850 199,850 2 Transfers In 381782 DDB Administration 71,026 59,188 71,026 Total Revenues & Transfers In 3,537,927 3,875,596 389,515 3,927,442 Expenditures & Transfers Out Operating Expenditures 530100 Professional Services 100,000 57,098 100,000 530300 Other Contractual Services 64,900 2 (33,677) 31,223 3 540200 Postal Service 200 361 161 361 3 540300 Telephone Variable 2,000 2,216 2,000 541000 Information Technology- Fixed 24,020 20,017 24,020 541600 Building & Maintenance Variable 1,000 1,000 542200 Electric -Utility Charges 200 74 200 542500 Postage 500 (161) 339 3 543100 Advertising 4,000 - 8,188 12,188 3 543200 Other Promotional Activities 3,000 680 3,000 543400 Printing & Binding 3,000 1,860 3,000 544100 Equipment Rental 2,500 1,036 2,500 547100 Uniforms 1,000 181 1,000 547200 Employee Expense -Travel 7,500 1,474 7,500 547300 Mileage Reimbursement 1,500 379 1,500 548000 Other Services 3,000 407 3,000 548700 Relocation Expense - 2,236 2,236 2,236 3 549000 Recruitment Expense 400 (237) 163 3 550100 Office Supplies 2,000 487 2,000 550400 Operating Expense - 167 167 167 3 557100 Memberships and Subscriptions 3,000 3,245 500 3,500 3 557200 Official Recognition - 70 70 70 3 557300 Training & Reference 6,000 3,783 6,000 581000 Payments to Other Agencies -DDB 274,651 274,822 171 274,822 1 581000 Payments to Other Agencies - Blast Friday 100,000 100,000 100,000 Total Operating Expenditures 604,371 470,595 (22,583) 581,789 Transfers Out 590200 General Fund- Administrative 408,740 408,740 62,000 470,740 4 590800 Library Activation Project (94887) 97,260 97,260 97,260 590800 Downtown Beautification (99968) 25,000 25,000 25,000 590800 Restricted County TIF Funds 1,602,371 1,602,618 1,602,371 590800 Downtown Redevelopment (94714) 121,026 121,026 250,097 371,123 5 590800 Downtown Marketing & Events (94853) 100,000 100,000 100,000 590800 Placemaking Activities (94889) 200,000 200,000 100,000 300,000 5 590800 CarPro 31,530 31,530 31,530 590800 Pierce/Washington 250,000 250,000 250,000 590800 Streetscape and Trail Improvements 97,629 97,629 97,629 Total Transfers Out 2,933,556 2,933,803 412,097 3,345,653 Total Expenditures & Transfers Out 3,537,927 3,404,398 389,515 3,927,442 Excess of Revenues & Transfers In Over Expenditures & Transfers Out 471,198 0 0 Budget Amendments to Operating Budget 1 To adjust budgeted revenue to actual TIF receipts, and adjust the related payment to the DDB to match actual receipts. 2 To adjust budgeted interest revenue to actual receipts to date. 3 To adjust the budget to reflect actual expenditure to date. 4 To increase the budget transfer to General Fund from CITY TIF funds to off set the cost of salary and benefits. To increase the budget transfer to the Downtown Redevelopment project by $250,097 and Placemaking Activities by 5 $100,000 to compensate for the increase in tax increment financing. (item 1 & 2)