Summary As part of its normal procedures, the Finance Department routinely performs reviews of the actual and anticipated receipts, as well as expenditures for each fund and department. The purpose of this item tonight is to recognize and appropriate previously unanticipated revenue since the adoption of the 2014-2015 Budget. Corresponding expense accounts must also be appropriated in order to maintain a balanced budget.
Details of the adjustments by fund are as follows:
General Fund - Increase $42,795. The City was awarded a Regional Initiative Valuing Environmental Resources (R.I.V.E.R.) Program Grant from the Suwannee River Water Management District to make drainage improvements within the Merrillwood subdivision.
CRA Fund - Increase $255,807. The City was awarded a R.I.V.E.R. Program Grant from the Suwannee River Water Management District in the amount of $86,900 to be make drainage improvements associated with the NW 142 Terrace Resurfacing and Drainage Improvement project. Also, as part of the project, the General Fund is contributing $168,907 toward the project. Since the project will be tracked in the CRA Fund, the General Fund's contribution will be transferred into this fund.
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