CITY OF HALLANDALE BEACH, FLORIDA

MEMORANDUM

DATE:           September 5, 2008

TO:               D. Mike Good, City Manager

FROM:         Richard D. Cannone, Development Services Director

SUBJECT:   Consideration of the Re-appropriating Balance of Funds in the Community Redevelopment Agency to specific FY 2008-2009 Programs and Projects

                      CAD #019/02

PURPOSE:

To provide the City Commission with the annual re-appropriations of the CRA balance funds for approval and provide authorization to the City Manager to finalize the re-appropriated amounts as of September 30, 2008.

BACKGROUND

The annual re-appropriation of funds in the Community Redevelopment Agency (CRA) are mandated by Section 163.387(7) Florida Statutes.  This section requires the CRA to re-appropriate any anticipated fund balances remaining at the end of the fiscal year to a specific project which is to be completed within (3) years from the date of the appropriation.

The Budget Policy Manual requires the preparation of a staff report to the CRA Board of Directors advising of the anticipated fund balances, with recommendations for re-appropriated funds. 

DISCUSSION

The estimated balance of allocations and expenditures/encumbrances for FY 2007/2008 CRA budget line items, projected as of September 30, 2008, (see attached).  CRA fund balances from prior fiscal years have been re-appropriated by the CRA Board of Directors and require no further action. The majority of the re-appropriations are transferred to the following accounts: Community Redevelopment Programs (3448), Legal Consulting (3461), City Manager Programs (3299) and Grant Match Expenditures (3491). 

RECOMMENATION

City Commission and Community Redevelopment Agency Board of Directors:

1.            Authorize the estimated re-appropriation of $2,326,057 from FY 2007/2008

               CRA budgetary line items to FY 2008/2009, (see attached) and;

2.            Authorize the City Manager to finalize the exact re-appropriation amounts

               as of September 30, 2008.

Prepared By: ___________________________

                        Bobby Robinson, CRA Manager

Reviewed:

______________________________                                              _______________

D. Mike Good, City Manager                                                 Date

____ Approved                     ____ Denied                            ____Hold for Discussion

COMMENTS: ____________________________________________________

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