Agenda

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County Administrator's Report 16. 1.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	07/25/2013
Issue: Supplemental Budget Amendment #194 - 2014 State Housing Initiatives Partnership Program (SHIP) Funds
From:	Amy Lovoy
Department:	OMB
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Supplemental Budget Amendment #194 - Amy Lovoy, Management and Budget Services Department Director

That the Board adopt the Resolution approving Supplemental Budget Amendment #194, State Housing Initiatives Partnership Program (SHIP) Fund (120) and the General Fund (001) in the amount of $527,672, to recognize the 2014 SHIP Program allocation provided by the Florida Housing Finance Corporation (FHFC), and to appropriate these funds to support Grant-funded affordable housing activities in Escambia County and the City of Pensacola.

BACKGROUND:

On June 13, 2013, Florida Housing Finance Corporation (FHFC) Program provided notice of the impending distribution of State Housing Initiatives Partnership (SHIP) based upon actions of the Florida Legislature regarding allocation of Mortgage Fraud Settlement funds. Such funds must be budgeted and expended for SHIP eligible affordable housing activities within limitations stipulated by the Legislature and FHFC. The $526,015 should be budgeted and expended in conjunction with the 2014 SHIP Program funds. This supplemental also incorporates the transfer of indirect cost to the General Fund in the amount of $1,657. SHIP is managed and implemented by Neighborhood Enterprise Foundation (NEFI) in cooperation with the City of Pensacola and other involved agencies.

BUDGETARY IMPACT:

This amendment will increase Fund 120 by $526,015 and Fund 001 by $1,657.

LEGAL CONSIDERATIONS/SIGN-OFF:

N/A

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

Board policy requires increases and decreases in revenues to be approved by the Board.

IMPLEMENTATION/COORDINATION:

N/A

Attachments
SBA#194