Title
Proposed Eastside CRA Amended Budget - FY 2002/2003 (B)
Explanation
The City of Gainesville adopted the budget for the 2002/2003 fiscal year during the two-year budget cycle in July of 2002. Actual revenues for FY 2002/2003 are higher than projected in all four CRA districts and additional funds need to be appropriated to particular budget line items.
The Eastside Redevelopment Advisory Board has met twice and failed to achieve a quorum at either meeting. Staff is recommending the budget as presented and will work with the board to identify projects for CRA approval over the next few months. The Eastside amendatory budget covers changes to operating expenses.
OPERATING BUDGET ISSUES
1. The CRA Office has obtained a copier and $151 in additional funding from needs to be added to the operating budget to cover this expense.
2. Staff is recommending that $1,200 be added to the reserves for office relocation. These funds could be needed to cover rent, utilities, increased phone expenses, additional furniture and other associated expenses. If the CRA does not relocate, these funds could be applied to a project budget.
PROJECT EXPENSES
Staff recommends that the remaining $46,516 available for project funding in the Eastside District be placed in a Project Reserve account until the board can recommend a project to the CRA.
Fiscal Note
As presented in the budget recommendations.
Recommendation
The City Commission approve the budget for the Eastside District as presented including the $1,200 to office relocation reserve, $151 to copier expense, 46,516 to a project reserve account.