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Home My WebLink AboutR-22-01 CRA BudgetCITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY RESOLUTION NO.22-01 A RESOLUTION OF THE CITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY (CRA) ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2021 AND ENDING SEPTEMBER 30, 2022; MAKING FINDINGS; AUTHORIZING AMENDMENTS AND TRANSFERS; PROVIDING FOR CONFLICTS; PROVIDING FOR SCRIVENER'S ERRORS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Manager of the City of Sebastian has submitted a budget for the City of Sebastian Community Redevelopment Agency (CRA) for the Fiscal Year beginning October I, 2021 and ending September 30, 2022; and WHEREAS, the budget includes the estimated expenditures necessary to carry out the functions of the CRA for the Fiscal Year beginning October 1, 2021, and ending September 30, 2022; 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, 2021 and ending September 30, 2022. SECTION 2. The governing board of the CPA 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, 2021, and ending September 30, 2022 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, 2021, 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, 2021, 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, 2021 and all such balances shall be appropriated to the corresponding accounts in the same funds in which they were outstanding as of September 30, 2021; 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, 2021, 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, 2021, and prior to October 1, 2022, in accordance with the directions of the CPA as to the appropriation and expenditure of such grants and bond proceeds as and when received. 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 5: CONFLICTS: All resolutions or parts of resolutions in conflict herewith are hereby repealed. SECTION 6: SCRIVENER'S ERRORS: Sections of this resolution may be renumbered or re -lettered and corrections of typographical errors which do not affect the intent may be authorized by the City Manager, or the City Manager's designee, without need of further action of City Council by filing a corrected copy of same with the City Clerk. SECTION 7: This Resolution shall become effective October 1, 2021. The foregoing Resolution was moved for adoption by CRA Board member MoPartlan . The motion was seconded by CRA Board member Nunn and, upon being put into a vote, the vote was as follows: Ed Dodd, Chairman ave Jim Hill aye Bob McPartlan aye Fred Jones aye Christopher Nunn ave The CPA Chairman thereupon declared this Resolution duly passed and adopted on this 29" day of September, 2021. CITY OF SEBASTIAN, FLORID By: Ed Dodd, Chairman ATTEST: ette Williams, City Clerk Approved as to form and legality for the reliance the t y f Sebas ' only: Maim on, x., ctt tgfttey EXHIBIT "A" Page 1 of 2 I CITY OF SEBASTIAN, FLORIDA 2021/2022 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. COMMUNITY REDEVELOPMENT AGENCY REVENUES Code: 140010 Account Number Description TAXES 338200 Tax Increment Revenue - Sebastian 338200 Tax Increment Revenue - County 11111l>77F1b5Y?E`. MISCELLANEOUS REVENUE 361100 Interest Income 361105 SBA Interest Earnings 362100 Rents and Royalties 366000 Contributions & Donations TOTAL MISCELLANEOUS REVENUE NON -REVENUE SOURCES 381001 Transfer from General Fund 389991 Fund Balance Carried Forward TOTAL NON -REVENUE SOURCES TOTAL RIVERFRONT REDEVELOPMENT Amended FY 17118 FY 18/19 FV 19/20 FY 20/21 FY 20/21 FY 21/22 Actual Actual Actual Budeet Protected Budeet 181,652 183,130 182,732 208,819 215,305 197,927 184,879 201,086 220,508 235,065 242,367 233,714 366,532 384,216 403,240 443,884 457,672 431,641 8,730 9,791 2,426 10,331 1,250 3,000 1,885 4,310 2,656 0 250 1,780 36,000 36,000 36,000 36,000 36,000 36,000 0 3.000 0 0 0 0 46,615 53,101 41,082 46,331 37,500 40,780 0 20,457 0 0 0 0 116,935 49,709 0 210,248 45,670 123,406 116,935 70,166 0 210,248 45,670 123,406 530,082 507,484 444,322 700,463 540,842 595,827 EXHIBIT "A" Page 2 of 2 CITY OF SEBASTIAN, FLORIDA 2021/2022 ANNUAL BUDGET COMMUNITY REDEVELOPMENT AGENCY EXPENDITURES Code: 140051 Amended Account FY 17/18 FY 18/19 FY 1920 FY 2021 FY 20/21 FY 21122 Number Description Actual Actual Actual Budget Proiected Budget OPERATING EXPENDITURES 533100 Professional Services 5,000 5,000 5,000 5,000 5,000 5,000 533120 Consultants 0 19,705 256 0 0 0 533200 Audit Fees 0 0 0 0 5,000 5,000 533201 Admin Svcs Provided by the OF 87,740 90,372 99,076 89,725 8%725 92,655 533400 Other Contractual Services 37,013 192,224 124,774 96,296 88,722 100,282 534000 Travel and Per Diem 0 0 0 500 500 300 534120 Postage 0 0 126 0 0 100 534320 Water and Sewer 0 365 0 0 0 0 534400 Rents and Leases 4,728 5,480 4,217 4,300 4,300 4,300 534699 Other Capital Maintenance Expense 18,706 35,466 9,653 15,503 15,000 20,000 534830 Special Events Expense 44,525 43,460 41,210 48,500 48,500 50,000 534920 Legal Ads 5,828 569 121 922 1,000 500 535310 Road Materials & Supplies 206 0 0 0 0 0 535410 Dues & Memberships 175 670 670 795 670 795 545450 Training and Education 0 0 395 275 400 395 535710 Non -Ad Valorem Taxes 1,990 2,928 1,396 1,478 1,400 1,500 TOTAL OPERATING EXPENDITURES 205,911 396,239 286,894 263,294 260,217 280,827 CAPITAL OUTLAY 606300 Improvements Other Than Buildings 0 0 0 0 0 0 606900 Infmstmcture 0 0 0 0 0 0 TOTAL CAPITAL OUTLAY 0 0 0 0 0 0 GRANTS AND AIDS 820100 Fa9ade/Sign Improvement Program 34,676 0 15,000 40,000 15,000 40,000 820200 Sewer Connection Program 39,495 111,245 24,424 75,577 75,577 0 TOTAL GRANTS AND AIDS 74,171 111,245 39,424 115,577 90,577 40,000 NON -OPERATING 909131 Intcrfund Tr& to CIP Fund 310 250,000 0 0 0 0 0 909132 Interfund Trfr to CIP Fund 320 0 0 13,448 176,594 190,048 275,000 909990 Unappropriated 0 0 104,556 144,998 0 0 TOTAL NON -OPERATING 250,000 0 118,004 321,592 190,048 275,000 TOTAL RIVERFRONT REDEVELOPMENT 530,082 507,494 444,322 700,463 540,842 595,827 arva SEBASTIAN HOME OF PELICAN ISLAND RIVERFRONT COMMUNITY REDEVELOPMENT AGENCY AGENDA TRANSMITTAL FORM COUNCIL MEETING DATE: September 29, 2021 AGENDA ITEM TITLE: Resolution No. R-22-01 Adopting the Riverfront Community Redevelopment Agency (CRA) Budget for the Fiscal Year 2021-2022 RECOMMENDATION: Move to Approve Resolution R-22-01 BACKGROUND: In accordance with Florida Statute 189.418(3), a Community Redevelopment Agency (CRA) "shall adopt a budget by resolution each fiscal year". The recommended budget for Fiscal Year 2021-2022, beginning October 1, 2021 and ending September 30, 2022, is included as EXHIBIT "A" to the Resolution for the CRA Board's consideration. The recommended operating expenditures, grants and aids and transfers for capital projects budget for the CRA is $595,827. Capital projects include the initial phase of the Harrison Street Park Plaza and the final phase on the working waterfront. The total tax increment revenue is projected to be $431,641. The CRA budget is also incorporated in the Annual Budget for the City of Sebastian as a Special Revenue Fund, which is scheduled for final approval on September 29'". ATTACHMENTS: Resolution R-22-01, including Exhibit "A". IF AGENDA ITEM REQUIRES EXPENDITURE OF FUNDS: Total Cost: $595,827 Fund to Be Utilized for Appropriation: Community Redevelopment Agency Fund Administrative Services Departm t R ! VC-e.r, n,�iI : .., . City Attorney Review - Procurement if _ Procurement Division Revie plic City Manager{wtt}orization: � Date: 9 9 �/