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Home My WebLink AboutR-16-01 CRA BudgetCITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY RESOLUTION NO. 16-01 A RESOLUTION OF THE CITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY (CRA) ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2016 AND ENDING SEPTEMBER 30, 2017; 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, 2016 and ending September 30, 2017; and WHEREAS, the budget includes the estimated expenditures necessary to carry out the functions of the CRA for the Fiscal Year beginning October 1, 2016, and ending September 30, 2017; 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, 2016 and ending September 30, 2017. 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, 2016, and ending September 30, 2017 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: In 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, 2016, 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 further 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, 2016, 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, 2016 and all such balances shall be appropriated to the corresponding accounts in the same funds in which they were outstanding as of September 30, 2016; 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, 2016, 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, 2016, and prior to October 1, 2017, 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, 2016. The foregoing Resolution was moved for adoption by CRA Board member Hill . The motion was seconded by CRA Board member Coy and, upon being put into a vote, the vote was as follows: Bob McPartlan, Chairman aye Jerome Adams ave Andrea B. Coy ave Richard Gillmor absent Jim Hill aye The CRA Chairman thereupon declared this Resolution duly passed and adopted on this 281h day of September, 2016 ATTEST: z-ttc Wiiliams, City Clerk CITY OF SEBAST F�ORIDA By: (/ Bob McPartlan, Chairman Approved as to form and legality for the reliance by the City of Sebastian only: o ert Ginsburg, City Attomey EXHIBIT "A" CITY OF SEBASTIAN, FLORIDA 2016-2017 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 was discontinued during FY 2015- 16. In FY 2016-17, expenditures for janitorial services, landscaping, street lighting and water/sewer are being funded by General Fund. COMMUNITY REDEVELOPMENT AGENCY REVENUES Code: 140010 Amended FY 16/17 Account FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 Adopted Number Description Actual Actual Actual Budeet Projected Budget TAXES 338200 Tax Increment Revenue- Sebastian 145,437 144,891 158,885 183,438 181,150 183,747 338200 Tax Increment Revenue - County 120,886 127,169 137,535 141,661 157,874 162,610 TOTAL TAXES 266,323 272,060 296,420 325,099 339.024 346,357 MISCELLANEOUS REVENUE 361100 Interestlncome 1,363 1,818 1,255 400 2,307 1,100 361105 SBA Interest Earnings 213 158 635 40 833 222 367000 Gain/Loss on Investments (64) (295) 0 0 0 0 362100 Rents and Royalties 6,000 25,500 36,000 36,000 36,000 36,000 TOTAL MISCELLANEOUS REVENUE 7,512 27,181 37,890 36,440 39,140 37,322 NON -REVENUE SOURCES 381001 Transfer from General Fund 0 0 0 10,600 0 0 389991 Fund Balance Carried Forward 0 174,885 0 401,697 235,838 0 TOTAL NON -REVENUE SOURCES 0 174,885 0 412,297 235,838 0 TOTAL RIVERFRONT REDEVELOPMENT 273,835 474,126 334,310 773,836 614,002 383,679 EXHIBIT "A" COMMUNITY REDEVELOPMENT AGENCY EXPENDITURES Code: 140051 Account Number Description OPERATING EXPENDITURES FY 12/13 Actual FY 13/14 Actual FY 14/15 Actual Amended FY 15/16 Budget FY 15/16 Projected FY 16/17 Adopted Budget 533100 Professional Services 9,200 5,000 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 0 37,850 0 26,005 6,244 50,000 533425 Contract Mowing Services 0 0 0 110,819 131,408 0 534315 Public Lighting 14,631 15,430 15,944 15,500 16,000 0 534320 Water and Sewer 880 1,117 1,231 1,425 1,200 0 534400 Rents and Leases 3,401 0 4,710 4,050 4,710 4,710 534501 Claims 0 0 18,000 0 0 0 534686 R&M -Park Facilities 0 0 8,688 20,750 250 0 534699 Other Capital Maintenance Expense 20,063 33,435 17,415 35,000 24,000 24,000 534830 Special Events Expense 39,975 37,890 37,452 42,468 36,000 36,000 534920 Legal Ads 620 363 1,539 1,535 1,295 1,500 535200 Departmental Supplies 0 150 0 0 0 0 535230 Small Tools and Equipment 0 0 8,471 10,000 0 0 535410 Dues & Memberships 175 175 175 175 175 175 535710 Non -Ad Valorem Taxes 2,326 2,381 2,568 2,568 2,033 2,500 TOTAL OPERATING EXPENDITURES 104,473 146,993 134,395 288,497 241,517 137,087 CAPITAL OUTLAY 606310 Improvements Other Than Building 6,562 0 0 8,500 11,209 0 606400 Equipment 0 0 26,096 0 0 0 TOTAL CAPITAL OUTLAY 6,562 0 26,096 8,500 11,209 0 GRANTS AND AIDS 820100 Fapade/Sign Improvement Program 20,583 0 29,218 56,922 56,922 40,000 820200 Sewer Connection Program 0 0 500 199,500 55,000 194,500 TOTAL GRANTS AND AIDS 20,583 0 29,718 256,422 111,922 234,500 NON-OPERATING 909100 Interfund Tr& to General Fund 001 60,000 60,000 60,000 19,517 21,667 0 909132 Interfund Trfr to CIP Fund 320 0 (31,292) 900 900 34,905 0 909133 Interfund Trfr to CIP Fund 330 6,175 298,425 16,527 200,000 192,782 0 909990 Unappropriated 76,042 0 66,674 0 0 12,092 TOTAL NON-OPERATING 142,217 327,133 144,101 220,417 249,354 12,092 TOTAL RIVERFRONT REDEVELOPMENT 273,835 474,126 334,310 773,836 614,002 383,679