ACTION ITEM
SPONSOR: Jared Moore, Chairperson
SUBJECT:
title
SUPPLEMENTAL BUDGET RESOLUTION NO. 2020-08 CRA - NON-ENCUMBERED CARRYOVER RESOLUTION.
end
RECOMMENDATION:
recommendation
That the Community Redevelopment Agency adopt Supplemental Budget Resolution No. 2020-08 CRA.
A RESOLUTION OF THE PENSACOLA COMMUNITY REDEVELOPMENT AGENCY APPROVING AND CONFIRMING REVISIONS AND APPROPRIATIONS FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2021; PROVIDING FOR AN EFFECTIVE DATE.
end
body
SUMMARY:
There are three Tax Increment Financing (TIF) Districts contained within the City of Pensacola’s Fiscal Year 2021 Annual Budget; the Urban Core TIF, the Eastside TIF, and the Westside TIF. The Community Redevelopment Agency (CRA) is responsible for using the Tax Increment Financing (TIF) funds to promote growth, redevelopment, and subsequent property value increases in the Redevelopment Area. TIF funds can only be used to undertake planning and construction of improvements and/or specific projects within the Redevelopment Area or neighborhood included within the respective plans.
In order to be compliant with Florida Statutes, the CRA is required to approve all budget resolutions involving any TIF District.
The attached unencumbered carryover budget resolution includes appropriations for the following:
For various reasons, certain items that were budgeted in FY 2020 were not purchased or encumbered. The unexpended appropriations are carried forward to the new fiscal year so that these items can be purchased.
Balances remaining for the Community Redevelopment Agency Fund, the Eastside TIF Fund, the Westside TIF Fund, the CRA Series 2017 Capital Projects Fund, and the CRA Series 2019 Capital Projects Fund are being carried forward.
As outlined in the Financial Planning and Administration Policy, those amounts appropriated in budget line items for salary increases must remain as adopted unless changed by a supplemental budget resolution. The Fiscal Year 2021 Budget included a separate line item appropriation entitled “9196 - Salary Increases (Non-Union),” which was an average 2% performance-based salary increase for non-union employees. Pay increases for all CRA employees were effective October 1, 2020. Included in this supplemental budget resolution is a transfer from 9196 - Salary Increases (Non-Union) to 9111 - Salaries where the expenses were charged.
PRIOR ACTION:
August 10, 2020 - The Community Redevelopment Agency approved the Fiscal Year 2021 Budget on Budget Resolution No. 2020-01 CRA.
November 9, 2020 - Approval of an Encumbrance Carryover Budget Resolution on Supplemental Budget Resolution No. 2020-06 CRA.
FUNDING:
N/A
FINANCIAL IMPACT:
Adoption of the supplemental budget resolution maintains compliance as required by Florida Statutes pertaining to tax increment financing districts.
CITY ATTORNEY REVIEW: Yes
11/19/2020
STAFF CONTACT:
Kerrith Fiddler, Deputy City Administrator - Community Development
M. Helen Gibson, AICP, CRA Administrator
Amy Lovoy, Finance Director
ATTACHMENTS:
1) Supplemental Budget Resolution No. 2020-08 CRA
2) Supplemental Budget Explanation No. 2020-08 CRA
PRESENTATION: No end