HomeMy WebLinkAboutR-24-01 CRA BudgetCITY OF SEBASTIAN
COMMUNITY REDEVELOPMENT AGENCY
RESOLUTION NO.24-01
A RESOLUTION OF THE CITY OF SEBASTIAN COMMUNITY
REDEVELOPMENT AGENCY (CRA) ADOPTING A BUDGET FOR THE
FISCAL YEAR BEGINNING OCTOBER 1, 2023 AND ENDING
SEPTEMBER 30, 2024; MAKING FINDINGS; AUTHORIZING
AMENDMENTS AND TRANSFERS; PROVIDING FOR CONFLICTS;
PROVIDING FOR SCRIVENEWS ERRORS; PROVIDING FOR
SEVERABILITY; 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 1, 2023 and ending September 30, 2024; and
WHEREAS, the CRA Budget includes estimated expenditures necessary to carry out the
functions of the CRA for the Fiscal Year beginning October 1, 2023, and ending September 30,
2024; and
WHEREAS, the CRA Budget includes the estimated revenues to be received by the CRA
during said period from all sources, including Tax Increment Funding (TIF); 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. RECITALS. The Recitals contained above in the Whereas clauses are
hereby ratified as being true and correct; are determined to be the legislative findings of the City
of Sebastian Community Redevelopment Agency; and made a specific part of this Resolution.
SECTION 2. ADOPTION OF BUDGET. 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, 2023 and ending
September 30, 2024.
SECTION 3. FINDINGS. 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, 2023, and ending September 30, 2024 from all sources, including tax increment funds,
equals the total of appropriations for expenditures and for reserves 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 4. CITY MANAGER AUTHORIZATIONS — AMENDMENTS. 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, 2023, 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 fiuther 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, 2023, 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, 2023 and all such balances shall be appropriated to the corresponding
accounts in the same funds in which they were outstanding as of September 30, 2023; 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, 2023, report all such purchase orders, grants and projects to the CRA. Corresponding
changes in the anticipated revenue accounts are thereafter hereby authorized.
SECTION 5. CITY MANAGER AUTHORIZATIONS — BUDGET TRANSFERS. 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, 2023, and prior to
October 1, 2024, in accordance with the directions of the CRA 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 6. CONFLICTS. All Resolutions or parts of Resolutions in conflict herewith
are hereby repealed.
SECTION 7. 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 fiuther action of
City Council by filing a corrected copy of same with the City Clerk.
SECTION 8. SEVERABILITY. If any clause, section, or other part or application of this
Resolution shall be held by any court of competent jurisdiction to be unconstitutional or invalid, such
unconstitutional or invalid part or application shall be considered as eliminated and so not affecting
the validity of the remaining portions or applications remaining in full force and effect.
SECTION 9. EFFECTIVE DATE. This Resolution shall become effective October 1,
a0*3
The foregoing Resolution was moved for adoption by CRA Board member Dodd . The
motion was seconded by CRA Board member Dixon and, upon being put into a
vote, the vote was as follows:
Fred Jones, Chairman
Ed Dodd
Bob McPartlan
Christopher Nunn
Kelly Dixon
aye
aye
aye
aye
ave
The CRA Chairman thereupon declared this Resolution duly passed and adopted on this 27`s day
of September, 2023.
ATTEST:: an
ette Williams, City Clerk
CITY OF SEBASTIAN, FLORIDA
Fred Jones, Chairman
Approved as to form and legality for the
reliance by the City of Sebastian only:
e ' er Cockcroft, City Attorney
CITY OF SEBASTIAN, FLORIDA 2023/2024 ANNUAL BUDGET I
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
TOTAL TAXES
MISCELLANEOUS REVENUE
361100
Interest Income
361105
SBA Interest Earnings
362100
Rents and Royalties
366000
Contnbutions St 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 19/20
FY 20121
FY 21/22
FY 22/23
FY 22/23
FY 23/24
Actual
Actual
Actual
Budget
Protected
Budget
182,732
215,305
192,832
190,290
195,885
223,569
220,508
242,367
192,832
190,290
274,075
248,196
403,240
457,672
385,665
380,580
469,960
471,765
2,426
1,267
4,562
6,000
10,000
8,000
2,656
200
1,251
1,719
7,800
3,950
36,000
36,000
36,000
36,000
36,000
16,500
0
0
0
0
0
0
41,082
37,467
41,813
43,719
53,800
28,450
0
0
0
0
0
0
0
0
0
86,952
0
0
0
0
0
86,952
0
0
444,322
495,139
427,478
511,251
523,760
500,215
CITY OF SEBASTIAN, FLORIDA 2023/2024 ANNUAL BUDGET
COMMUNITY REDEVELOPMENT AGENCY EXPENDITURES
Code: 140051
Amended
Account
FY 19/20
FY 20/21
FY 21/22
FY 22/23
FY 22/23
FY 23/24
Number Description
Actual
Actual
Actual
Budeet
Proloc
Budget
OPERATING EXPENDITURES
533100 Professional Services
5,000
5,000
5,000
5,000
5,000
5,000
533120 Consultants
256
0
0
0
0
50,000
533200 Audit Fees
0
5,000
5,000
5,000
5,000
4,000
533201 Admin Svcs Provided by the GF
99,076
89,725
92,655
62,431
62,431
67,573
533400 Other Contractual Services
124,774
96,195
97,842
99,942
99,942
99,942
534000 Travel and Per Diem
0
0
0
500
511
1,200
534120 Postage
126
7
0
0
0
0
534400 Rents and Leases
4,217
4,302
4,429
4,950
5,145
6,000
534698 Other CRA Maintenance Expenses
0
0
11,685
10,000
10,000
12,750
534699 Maint Expenses
9,653
18,020
19,044
20,000
10,000
20,000
534830 Special Events Expense
41,210
32,125
45,369
50,000
50,000
0
534920 Legal Ads
121
279
123
300
0
300
535410 Dues & Memberships
670
795
795
795
795
795
545450 Training and Education
395
0
395
400
395
1,800
535710 Non -Ad Valorem Taxes
1,396
1,478
1,583
1,600
1,827
2,010
TOTAL OPERATING EXPENDITURES
286,894
252,927
293,921
260,918
251,046
271,370
GRANTS AND AIDS
820100 Fagade/Sign Improvement Program
15,000
5,323
8,049
31,951
31,951
40,000
820200 Sewer Connection Program
24,424
0
0
5,001
5,000
0
TOTAL GRANTS AND AIDS
39,424
5,323
8,049
36,952
36,951
40,000
NON -OPERATING
909132 Interfund Trfr to C1P Fund 320
13,448
137,415
15,266
65,000
65,000
60,000
909363 Interfund Trfr to CIP Fund 363
0
36,890
34,306
0
0
0
909990 Unappropriated
104,556
62,584
85,936
148,381
170,763
128,845
TOTAL NON -OPERATING
118,004
236,989
135,508
213,381
235,763
188,845
TOTAL RIVERFRONT REDEVELOPMENT
444,322
495,139
427,478
511,251
523,760
500,215
I
MOF
HOME OF PELICAN ISLAND
RIVERFRONT COMMUNITY REDEVELOPMENT AGENCY
AGENDA TRANSMITTAL FORM
CRA BOARD MEETING: September 27, 2023
AGENDA ITEM TITLE: Consider Resolution No. R-24-01 Adopting the River&ont Community
Redevelopment Agency (CRA) Budget for the Fiscal Year 2023-2024
RECOMMENDATION: CRA Board Approval of Resolution R-24-01
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 2023-2024,
beginning October 1, 2023 and ending September 30, 2024, 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 $500,215. The total Tax Increment Funding ("TIF") revenue is projected to be $471,765. Capital
expenditures include matching funds on a 50% FIND Grant for design and preparation of bid documents for
Working Waterfront Improvements. Funding is also being set aside for future matching funds toward
construction of those improvements. The CRA budget is also incorporated in the Annual Budget for the City
of Sebastian as a Special Revenue Fund, which is also scheduled for final approval at this meeting.
ATTACHMENTS:
Resolution R-24-01, including Exhibit "A".
IF AGENDA ITEM REOUHZES EXPENDITURE OF FUNDS:
Total Cost: $500,215
Fund to Be Utilized for Appropriation: Community Redevelopment Agency Fund
Administrative Services Department Review:(
City Attorney Review:—
;r6ktc
Procurement Division Review, ifapplicable:__,6
City Manager Authorization: Date: Vall").147-14V