Summary On August 21, 2017, the Community Redevelopment Advisory Board received a presentation of the proposed FY 2017-2018 CRA Budget. The budget presented to the Advisory Board reflected a CRA budget in the amount of $727,721. The Advisory Board, subsequently, voted to recommend that said budget be transmitted to the CRA for final adoption.
As part of its year-end process, Finance and Administrative Services reviews estimates of receipts, expenses and, also, project balances from the current year. This review has resulted in a modification of the budget amount being presented as follows:
A) Tax increment funding from the City of Alachua has been reduced by $12,150 due to the anticipated millage reduction to occur at the City Commission meeting the evening of September, 11, 2017; and,
B) Capital expenses related to the treescaping project on Main Street have been increased by $52,000 to provide for remaining project costs and purchase orders relating to FY 2016-2017 funding.
The City of Alachua Community Redevelopment FY 2017-2018 Final Budget amount is $779,721.
Resolution CRA17-06 adopts the City of Alachua Community Redevelopment Agency Fiscal Year 2017-2018 Budget. |