Recommendation Concerning Supplemental Budget Amendment #012 - Amy Lovoy, Management and Budget Services Department Director
That the Board adopt the Resolution approving Supplemental Budget Amendment #012, General Fund (001), and the Community Redevelopment Fund (151), a reduction in the amount of $16,746, to recognize an adjustment to the Escambia County Tax Increment Financing (TIF) Districts. This adds $88,551 to reserves for operating, reduces the County TIF Areas by $16,746, and reduces the allocation to the City TIF Areas by $71,805 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 2014 tax year.
BUDGETARY IMPACT:
This amendment will decrease Fund 151 and increase Fund 001 by $16,746.
LEGAL CONSIDERATIONS/SIGN-OFF:
N/A
PERSONNEL:
N/A
POLICY/REQUIREMENT FOR BOARD ACTION:
Board policy requires increase and decreases in revenues to be approved by the Board.