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Home My WebLink AboutR-14-01 CRA BudgetCITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY RESOLUTION NO. 14-01 A RESOLUTION OF THE CITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY (CRA) ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2014 AND ENDING SEPTEMBER 30, 2015; 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, 2014 and ending September 30, 2015; and WHEREAS, the budget includes the estimated expenditures necessary to carry out the functions of the CRA for the Fiscal Year beginning October 1, 2014, and ending September 30, 2015; 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, 2014 and ending September 30, 2015. 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, 2014, and ending September 30, 2015 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, 2014, 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, 2014, 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, 2014 and all such balances shall be appropriated to the corresponding accounts in the same funds in which they were outstanding as of September 30, 2014; 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, 2014, 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, 2014, and prior to October 1, 2015, 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, 2014. The foregoing Resolution was moved for adoption by CRA Board member G i l lmor . The motion was seconded by CRA Board member COY and, upon being put into a vote, the vote was as follows: Bob McPartlan, Chairman Jim Hill aye aye Andrea B. Coy aye Richard Gillmor aye Jerome Adams aye The CRA Chairman thereupon declared this Resolution duly passed and adopted on this 24th day of September, 2014 ATT Sally A. M41 MMC City Clerk CITY OF SEBASTI N, F RIDA By: ,✓' . Bob McPartlan, Chairman Approved as to form and legality for the reliance by the City of Sebastian only: Robert Ginsburg, City Attorney CRA RESOLUTION 14-01 ATTACHMENT "A " ITY OF SEBASTIAN, FLORIDA 2014/2015 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. A transfer is made to General Fund to offset the additional costs of providing enhanced maintenance of parks and medians COMMUNITY REDEVELOPMENT AGENCY REVENUES Code: 140010 132 Amended FY 14/15 Account FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 13/14 Adopted Number Description Actual Actual Actual BudEet Projected Budeet TAXES 338200 Tax Increment Revenue - Sebastian 153,900 131,821 145,437 144,856 144,892 153,299 338200 Tax Increment Revenue - Indian River Cty 143,720 123,248 120,886 120,610 127,169 134,545 TOTAL TAXES 297,620 255,069 266,323 265,466 272,061 287,844 MISCELLANEOUS REVENUE 361100 Interest Income 4,794 1,864 1,363 1,600 1,100 668 361105 SBA Interest Earnings 358 440 213 336 285 50 367000 Gain/Loss on Investments 0 (861) (64) 0 0 0 362100 Rents and Royalties 0 12,000 6,000 0 25,500 36,000 369900 Other Miscellaneous Revenue 16,266 0 0 0 0 0 TOTAL MISCELLANEOUS REVENUE 21,418 13,443 7,512 1,936 26,885 36,718 NON -REVENUE SOURCES 389991 Fund Balance Carried Forward 261,154 0 0 80,093 247,072 106,073 TOTAL NON -REVENUE SOURCES 261,154 0 0 80,093 247,072 106,073 TOTAL RIVERFRONT REDEVELOPMENT 580,192 268,512 273,835 347,495 546,018 430,635 132 CRA RESOLUTION 14-01 ATTACHMENT "A" CITY OF SEBASTIAN, FLORIDA 2014/2015 ANNUAL BUDGET COMMUNITY REDEVELOPMENT AGENCY EXPENDITURES Code: 140051 Account Amended FY 14/15 Number Description FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 13/14 Adopted Actual Actual Actual Budget Projected Budget OPERATING EXPENDITURES 533100 Professional Services 5,400 7,000 9,200 7,000 5,000 5,000 533201 Admin Svcs Provided by the GF 7,440 13,202 13,202 13,202 13,202 13,202 533400 Other Contractual Services 9,070 200 0 50,000 50,000 0 534120 Postage 0 0 0 0 0 0 534315 Public Lighting 15,000 14,460 14,631 15,500 15,500 15,500 534320 Water and Sewer 857 1,064 880 1,000 1,000 1,000 534400 Rents and Leases 3,266 3,341 3,401 0 0 0 534686 R&M -Park Facilities 0 0 0 0 0 4,000 534699 Other Capital Projects Maintenance Expense 34,376 32,410 20,063 25,000 28,000 30,000 534830 Special Events Expense 33,782 33,596 39,975 42,468 40,000 42,468 534920 Legal Ads 53 179 620 650 650 650 535200 Departmental Supplies 580 0 0 0 150 0 535230 Small Tools and Equipment 0 0 0 0 0 10,000 535410 Dues & Memberships 670 175 175 175 175 175 535710 Non -Ad Valorem Taxes 0 2,438 2,326 2,500 2,381 2,500 TOTAL OPERATING EXPENDITURES 110,494 108,065 104,473 157,495 156,058 124,495 CAPITAL OUTLAY AND PROJECTS 606310 Improvements Other Than Building 0 0 6,562 0 0 0 TOTAL CAPITAL OUTLAY AND PROJECTS 0 0 6,562 0 0 0 GRANTS AND AIDS 820100 Fagade/Sign Improvement Program 78,424 32,903 20,583 30,000 30,000 46,140 820200 Sewer Connection Program 0 0 0 100,000 0 100,000 TOTAL GRANTS AND AIDS 78,424 32,903 20,583 130,000 30,000 146,140 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 320 290,964 594 0 0 0 0 909133 Interfund Trfr to CIP Fund 330 40,310 43,864 6,175 0 299,960 100,000 909990 Unappropriated 0 23,086 76,042 0 0 0 TOTAL NON-OPERATING 391,274 127,544 142,217 60,000 359,960 160,000 TOTAL RIVERFRONT REDEVELOPMENT 580,192 268,512 273,835 347,495 546,018 430,635 133