Agenda

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County Administrator's Report 10. 11.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	11/03/2016
Issue: Supplemental Budget Amendment #009 - CRA Tax Increment Financing Adjustment
From:	Stephan Hall
Department:	Asst County Administrator
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Supplemental Budget Amendment #009 - Stephan Hall, Budget Manager, Management and Budget Services

That the Board adopt the Resolution approving Supplemental Budget Amendment #009, General Fund (001) and the Community Redevelopment Fund (151), a reduction in the amount of $76,294, to recognize an adjustment to the Escambia County Tax Increment Financing (TIF) Districts; this adds $156,493 to reserves for operating, reduces the County TIF Areas by $76,294, and reduces the allocation to the City of Pensacola TIF Areas by $80,199, based on the final certification of property values.

BACKGROUND:

This 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 2016 tax year.

BUDGETARY IMPACT:

This amendment will decrease Fund 151 and increase Fund 001 by $76,294.

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#009