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Home My WebLink AboutR-15-01-CRA BudgetCITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY RESOLUTION NO. 15-01 A RESOLUTION OF THE CITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY (CRA) ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2015 AND ENDING SEPTEMBER 30, 2016; MAKING FINDINGS; AUTHORIZING AMENDMENTS; PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Manager of the City of Sebastian has submitted a budget for the Sebastian Community Redevelopment Agency (CRA) for the Fiscal Year beginning October 1, 2015 and ending September 30, 2016; and WHEREAS, the budget includes the estimated expenditures necessary to carry out the functions of the CRA for the Fiscal Year beginning October 1, 2015, and ending September 30, 2016; and WHEREAS, the budget includes the estimated revenues to be received by the CRA during said period from all sources, including tax increment funding; and WHEREAS, the CRA has examined and carefully considered the proposed budget in a duly assembled meeting. NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BOARD OF CITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY: SECTION 1. The City of Sebastian Community Redevelopment Agency does hereby adopt, confirm and approve the budget attached hereto as Exhibit "A" as the budget for the CRA for the Fiscal Year beginning October 1, 2015 and ending September 30, 2016. SECTION 2. The governing board of the CRA does hereby find that: (a) The budget adopted has been prepared in accordance with generally accepted accounting principles; and (b) The estimated revenues to be received by the CRA during the Fiscal Year beginning October 1, 2015, and ending September 30, 2016 from all sources, including tax increment funding and reserves, equals the total of appropriations for expenditures in the budget during said period; and (c) The budget will regulate expenditures of the CRA and no expenditures or contracts for expenditures shall be made except in pursuance of budgeted appropriations; (d) The budget is adopted in accordance with Section 189.418, Florida Statutes. SECTION 3: hi order to effect an orderly year-end closeout of all financial books and records for the CRA, the City of Sebastian City Manager is hereby authorized and directed to increase the corresponding line item appropriations in the budget to the extent of those purchase orders which shall have been issued prior to September 30, 2015, but shall not have been filled prior to that date, and is authorized and directed to pay all such purchase orders upon receipt of the goods or services therein specified from the funds so appropriated. The City of Sebastian City Manager is hereby firther authorized and directed to increase the budget appropriations to the extent of any unexpended balances from state, federal or other grants as of the end of business on September 30, 2015, and to the extent of any unexpended balances, whether or not encumbered, outstanding in projects or programs as of the end of business on September 30, 2015 and all such balances shall be appropriated to the corresponding accounts in the same funds in which they were outstanding as of September 30, 2015; and the City Manager shall be authorized to expend such appropriations for the purposes approved by the CRA in connection with such state, federal or other grants, and projects. The City Manager shall, prior to December 31, 2015, report to the CRA all such purchase orders, grants and projects. Corresponding changes in the anticipated revenue accounts are hereby authorized. SECTION 4: The City Manager is hereby authorized and directed to maintain and amend the budget so as to reflect the anticipated revenue and the appropriation of, and expenditure of, all grant funds and bond proceeds committed to, or received by the CRA subsequent to September 30, 2015, and prior to October 1, 2016, in accordance with the directions of the CRA as to the appropriation and expenditure of such grants and bond proceeds as and when received. SECTION 6: The City Manager shall have the authority to transfer appropriations from one line item to another line item of the budget, so long as the total appropriations shall not be increased thereby. Transactions affecting total appropriations, other than those authorized herein in other sections shall require the prior approval of the CRA. Any such transactions are subject to any restrictive statutes or ordinances, including those authorizing the issuance of any outstanding bonds. SECTION 7. This Resolution shall become effective October 1, 2015. The foregoing Resolution was moved for adoption by RA oard member The motion was seconded by CRA Board member L' and, upon b 'ng put into a vote, the vote was as follows: Richard Gillmor, Chairman Jerome Adams Andrea B. Coy Bob McPartlan Jim Hill The CRA Chairman thereupon declared this Resolution duly passed and adopted on this 23d day of September, 2015 C OF S A NDA By: c and Gillmor, Chairman ATT Sally A. Ma' ,MMC City Clerk Approved as to form and legality for the reliance by the City of Sebastian only: Robert Ginsburg, City Attorney ATTACIMENT A _ Page 1 of 2 CITY OF SEBASTIAN, FLORIDA 2015/2016 ANNUAL BUDGET COMMUNITY REDEVELOPMENT AGENCY City of Sebastian Community Redevelopment Agency was created by City Ordinance in 1995, pursuant to Section 163.387, Florida Statutes. The purpose of the Community Redevelopment Agency is the removal of blighted areas and the development of such areas, pursuant to the Community Redevelopment Act of 1969. All revenues and expenditures related to the City's Community Redevelopment Agency are included in this fund. In FY 2008-2009, a transfer was started to General Fund to offset the additional costs of providing enhanced maintenance of parks and medians within this area. This transfer has been increased in FY 2015-16. COMMUNITY REDEVELOPMENT AGENCY REVENUES Code: 140010 Account Number Description TAXES FY 11/12 Actual FY 12/13 Actual FY 13/14 Actual Amended FY 14/15 Budget FY 14/15 Projected FY 15/16 Adopted Budget 338200 Tax Increment Revenue - Sebastian 131,821 145,437 144,891 153,299 158,885 183,438 338200 Tax Increment Revenue - County 123,248 120,886 127,169 134,545 137,535 141,661 TOTAL TAXES 255,069 266,323 272,060 287,844 296,420 325,099 MISCELLANEOUS REVENUE 361100 Interest Income 1,864 1,363 1,818 668 1,564 400 361105 SBA Interest Earnings 440 213 158 50 200 40 367000 Gain/Loss on Investments (861) (64) (295) 0 0 0 362100 Rents and Royalties 12,000 6,000 25,500 36,000 36,000 36,000 369900 Other Miscellaneous Revenue 0 0 0 0 0 0 TOTAL MISCELLANEOUS REVENUE 13,443 7,512 27,181 36,718 37,764 36,440 NON -REVENUE SOURCES 389991 Fund Balance Carried Forward 0 0 174,885 324,073 283,929 64,384 TOTAL NON -REVENUE SOURCES 0 0 174,885 324,073 283,929 64,384 TOTAL RIVERFRONT REDEVELOPMENT 268,512 273,835 474,126 648,635 618,113 425,923 ATTACHMENT A Page 2 of 2 CITY OF SEBASTIAN, FLORIDA 2015/2016 ANNUAL BUDGET COMMUNITY REDEVELOPMENT AGENCY EXPENDITURES Code: 140051 Account Number Description OPERATING EXPENDITURES FY 11/12 Actual FY 12/13 Actual FY 13/14 Actual Amended FY 14/15 Budget FY 14/15 Projected FY 15/16 Adopted Budget 533100 Professional Services 7,000 9,200 5,000 5,000 5,000 5,000 533201 Admin Svcs Provided by the GF 13,202 13,202 13,202 13,202 13,202 13,202 533400 Other Contractual Services 200 0 37,850 0 0 0 534120 Postage 0 0 0 0 0 0 534315 Public Lighting 14,460 14,631 15,430 15,500 15,500 15,500 534320 Water and Sewer 1,064 880 1,117 1,000 1,200 1,425 534400 Rents and Leases 3,341 3,401 0 0 4,710 4,050 534501 Claims 0 0 0 18,000 18,000 0 534686 R&M -Park Facilities 0 0 0 4,000 3,019 0 534699 Other Capital Maintenance Expense 32,410 20,063 33,435 18,734 18,734 35,000 534830 Special Events Expense 33,596 39,975 37,890 42,468 42,468 42,468 534920 Legal Ads 179 620 363 650 1,100 1,535 535200 Departmental Supplies 0 0 150 0 0 0 535230 Small Tools and Equipment 0 0 0 10,000 8,471 0 535410 Dues & Memberships 175 175 175 175 175 175 535710 Non -Ad Valorem Taxes 2,438 2,326 2,381 2,500 2,568 2,568 TOTAL OPERATING EXPENDITURES 108,065 104,473 146,993 131,229 134,147 120,923 CAPITAL OUTLAY 606310 Improvements Other Than Building 0 6,562 0 0 22,000 0 606400 Equipment 0 0 0 26,266 26,266 0 TOTAL CAPITAL OUTLAY 0 6,562 0 26,266 48,266 0 GRANTS AND AIDS 820100 Fagade/Sign Improvement Program 32,903 20,583 0 46,140 46,140 40,000 820200 Sewer Connection Program 0 0 0 100,000 100,000 100,000 TOTAL GRANTS AND AIDS 32,903 20,583 0 146,140 146,140 140,000 NON-OPERATING 909100 Interfund Tr& to General Fund 001 60,000 60,000 60,000 60,000 60,000 65,000 909132 Interfund Tr& to CIP Fund 320 594 0 (31,292) 0 0 0 909133 Interfpnd Tr& to CIP Fund 330 43,864 6,175 298,425 285,000 229,560 100,000 909990 Unappropriated 23,086 76,042 0 0 0 0 TOTAL NON-OPERATING 127,544 142,217 327,133 345,000 289,560 165,000 TOTAL RIVERFRONT REDEVELOPMENT 268,512 273,835 474,126 648,635 618,113 425,923