The URL can be used to link to this page

Home My WebLink AboutR-12-01-CRA BudgetCITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY RESOLUTION NO. 12-01 A RESOLUTION OF THE CITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY (CRA) ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2012 AND ENDING SEPTEMBER 30, 2013; MAHING 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, 2012 and ending September 30, 2013; and WHEREAS, the budget includes the estimated expenditures necessary to carry out the functions of the CRA for the Fiscal Year beginning October 1, 2012, and ending September 30, 2013; 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, 2012 and ending September 30, 2013. 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, 2012, and ending September 30, 2013 from all sources, including tax increment funding, equals the total of appropriations for expenditures and reserves 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, 2012, 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 fo the extent of any unexpended balances from state, federal or other grants as of the end of business on September 30, 2012, 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, 2012 and all such balances shall be appropriated to the corresponding accounts in the same funds in which they were outstanding as of September 30, 2012; 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, 2012, report to the CRA a11 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, a11 grant funds and bond proceeds committed to, or received by the CRA subsequent to September 30, 2012, and prior to October 1, 2013, 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 sha11 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, 2012. The foregoing Resolution was moved for adoption by CRA Board member Gi l lmor The motion was seconded by CRA Board member coy and, upon being put into a vote, the vote was as follows: Jim Hill, Chairman Don Wright Andrea B. Coy Richard H. Gillmor Bob McPartlan aye aye aYe aye aye The CRA Chairman thereupon declared this Resolution duly passed and adopted this 26°d day of September, 2012 ATTE : � �.� � - Sally A. Mai , MMC City Clerk CITY OF SEBASTIAN, FLORIDA /A � By: __-_ _ %. % Jim Hill, Chairman Approved as to form and legality for the reliance by the City of Sebastian only: 6/l Robert Ginsburg, City Attor ey EXHIBIT "A" RESOLUTION NO. 12-01 2012/2013 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 Commi,ulity 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 e�enditures related to the City's Community Redevelopment Agency are mcluded 'm this fund. A transfer is made to General Fund to of�'set the additional costs of provid'mg enhanced maintenance of parks and medians withm this area. COMMUNITY REDEVELOPMENT AGENCY REVENUES Code: 140010 Amended FY 12/13 Account FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 11/12 Adopted Number Description Actual Actual Actual BudEet Proiected Bud�et TAXES 338200 Tax Increment Revenue - Sebastian 273,888 223,426 153,900 133,975 131,821 144,489 338200 Tax Increment Revenue - Indian River Cty 251,236 206,304 143,720 125,091 123,248 120,320 TOTAL TAXES 525,124 429,730 297,620 259,066 255,069 264,809 MISCELLANEOUSREVENUE 361100 Interest Income 288 1,924 4,794 4,000 3,000 2,704 361 l05 SBA Interest Earnings 1,702 1,131 358 650 575 360 369900 Other Miscellaneous Revenue 0 3,781 16,266 0 0 0 TOTAL MISCELLANEOUS REVENUE 1,990 6,836 21,418 4,650 3,575 3,064 NON-REVENUE SOURCES 381330 Transfer from Capital Project Fund 330 668,590 0 0 0 0 0 389991 Fund Balance Carried Forward 0 2,858,920 261,154 22,900 44,372 192,167 TOTAL NON-REVENUE SOURCES 668,590 2,858,920 261,154 22,900 44,372 192,167 TOTAL RIVERFRONT REDEVELOPMENT 1,195,704 3,295,486 580,192 286,616 303,016 460,040 Page 1 of 2 ITY OF SEBASTIAN, FLORIDA 2012/2013 ANNUAL BUDGE COMMUNITY REDEVELOPMENT AGENCY EXPENDITURES Code: 140051 Account Amended FY 12/13 Number Description FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 11/12 Adopted Actual Actual Actual Budeet Proiected Budget OPERATING EXPENDITURES 533100 Professional Services 9,425 25,149 5,400 7,000 7,000 7,000 533201 Admin Svcs Provided by the GF 13,202 13,202 7,440 13,202 12,584 13,202 533400 Other Contractual Services 63,200 16,140 9,070 16,600 15,600 600 534120 Postage 35 0 0 0 0 0 534315 Public Lighting 14,728 15,186 15,000 15,500 15,500 15,500 534320 Water and Sewer 297 730 857 1,000 1,000 1,000 534400 Rents and Leases 0 3,326 3,266 0 0 0 534686 R&M-Park Facilities 3,849 888 0 2,500 2,500 2,500 534699 Other Capital Projects Maintenance Expense 0 3,541 34,376 11,982 30,000 30,000 534830 Special Events Expense 37,184 34,395 33,782 36,468 36,468 42,468 534920 LegalAds 0 755 53 100 100 l00 535200 Departmental Supplies 1,892 0 580 1,000 1,000 1,000 535410 Dues & Memberships 670 670 670 670 670 670 TOTAL OPERATING EXPENDITURES 144,482 113,982 110,494 106,022 122,422 114,040 CAPITAL OUTLAY AND PROJECTS 606100 Land 0 2,308,392 0 0 0 0 606200 Buildings 0 784,000 0 0 0 0 606310 Improvements Other Than Building 0 4,024 0 0 0 0 TOTAL CAPITAL OUTLAY AND PROJECTS 0 3,096,416 0 0 0 0 GRANTS AND AIDS 820100 Fa�ade/Sign Improvement Program 22,988 15,370 78,424 20,000 20,000 30,000 820200 Sewer Connection Program 0 0 0 0 0 6,000 TOTAL GRANTS AND AIDS 22,988 15,370 78,424 20,000 20,000 36,000 NON-OPERATING 909100 Interfund Trfr to General Fund 001 60,000 60,000 60,000 60,000 60,000 60,000 909132 Interfund Trfr to CIP Fund 320 0 9,829 290,964 594 594 0 909133 Interfund Trfr to CIP Fund 330 0 (111) 40,310 100,000 100,000 250,000 909990 Unappropriated 968,234 0 0 0 0 0 TOTAL NON-OPERATING 1,028,234 69,718 391,274 160,594 160,594 310,000 TOTAL RNERFRONT REDEVELOPMENT 1,195,704 3,295,486 580,192 286,616 303,016 460,040 Page 2 of 2