Agenda

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County Administrator's Report 11. 4.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	11/17/2015
Issue: SBA#020 - CRA Tax Increment Financing Adjustment
From:	Stephan Hall
Department:	Asst County Administrator
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Supplemental Budget Amendment #020 - Stephan Hall, Budget Manager, Management and Budget Services

That the Board adopt the Resolution approving Supplemental Budget Amendment #020, General Fund (001) and Community Redevelopment Fund (151), a reduction in the amount of $25,915, to recognize an adjustment to the Escambia County Tax Increment Financing (TIF) Districts. This adds $60,168 to reserves for operating, reduces the County TIF Areas by $25,915, and reduces the allocation to the City TIF Areas by $34,253 based on the final certification of property values.

BACKGROUND:

This Supplemental Budget Amendment adjusts the amount budgeted within the TIF Districts to the final property values within those areas as certified by the Escambia County Property Appraiser for the 2015 tax year.

BUDGETARY IMPACT:

This amendment will decrease Fund 151 and increase Fund 001 by $25,915.

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#020