HomeMy WebLinkAboutAgenda Packet 08-16-2016 Item 3 REVISED ` : City of Cape Canaveral
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Agenda Form (Revised)
CRA Board Meeting Date: 8/16/2016
Item No. 3
Subject: Resolution No. CRA-04; adopting a budget for the Cape Canaveral Community
Redevelopment Agency for Fiscal Year 2016-17; providing for the repeal of prior inconsistent
resolutions, severability and an effective date.
Department: Community Development
Summary:
The City of Cape Canaveral Community Redevelopment Agency(CRA)was established August
21, 2012 with the adoption of Resolution No. 2012-16. The CRA was created pursuant to Part
III, Chapter 163, Florida Statutes and is considered a dependent special district under Chapter
189 F.S. As a special district, the CRA Board is required to adopt a budget for each fiscal year
by resolution.
The CRA Budget has been revised based on additional information received from the Brevard
County Property Appraiser.
The City's Annual Budget includes the Cape Canaveral CRA Budget which details the revenues
and anticipated expenditures of the special district. The projected revenue for the CRA for FY
2016-17 is $475,503. CRA revenue also includes a line item of$210,305 and $265,198 of ad
valorem from the City and Brevard County respectively.
Notable expenses include $54,822 for operating costs, debt service of$135,681 and $285,000
for capital outlay including mobility/striping project(s). The $100,000 loan from the City used
to initially fund the CRA in 2014 will be paid in full in Fiscal Year 2016/17.
Resolution No. CRA-04 (see Attachment) has been prepared to adopt the Fiscal Year 2016-17
Budget, which will take effect October 1, 2016 and ' n through September 0, 2017.
Submitting Director: David Dickey \; Date: Slit l
Attachment:
Resolution No. CRA-04.
Financial Impact: Staff time to prepare this Agenda Item.
Reviewed by Administrative Services/ O1 I ,
Finance Director: John DeLeo Date: d
The CRA Director/Registered Agent recomm ds that the CRA Board take the following
action:
Adopt Resolution No. CRA-04.
Approved by CRA Director/ q
Registered Agent: David L. Greene 01Date: 8[i/ J )
(Revised)
Budget Detail
Cape Canaveral Community Redevelopment Agency
Fund 106-Dept 016
2013-2014 2014-2015 2015-2016 2015-2016 2016-2017 %
Actual Actual Original Projected Proposed Inc/Dec
Revenue
106-000-300-300100 Cash Forward 62,968 - - - s 0%
106-000-338-338000 Shared Revenue fr Cape Canaveral 13,647 55,330 113,353 118,464 210,30 ' 78%
1
106-000-338-338001 Shared Revenue fr Brevard Cnty 17,147 70,810 148,209 154,892 265,19V 71%
106-000-361-361100 Interest From Investment - - 501 - 0%
106-000-361-361310 Net Increase(decrease)in FMV - - - - 0%
106-000-381-381001 Transfer from General Fund - - - - 1 0%
Total Revenue $ 93,762 $ 126,140 $ 262,063 $ 273,356 '. , 1:1 74%
Operating
106-016-559-310000 Legal Fees 1,889 5,338 1,000 1,000 1,000, 0%
106-016-559-310001 Administratvie/Professional Svcs 1,265 238 1,000 175 ' 47,083 26805%
106-016-559-400000 Travel&Per Diem - - 644 644 100%
106-016-559-450000 Insurance 5,108 4,287 5,000 5,095 5000 -2%
106-016-559-520000 Operating Supplies - - 0%
106-016-559-540000 Membership&Training - 990 1,095 990 . ,095 ` 11%
Total Operating 8,262 10,853 8,739 7,260 54,822' 655%
ito,
Capital Outlay
106-016-559-630000 Grant Programs 85,500 - - - - 0%
106-016-559-630001 Capital Initiatives - 15,043 - - 220,000 100%
106-016-559-630002 Mobility/Striping Project - 13,745 140,000 140,000 65,000 -54%
106-016-559-630003 Oak Lane Design - - - - 0%
Total Capital Outlay 85,500 28,788 140,000 140,000 285,000 104%
e
Debt Service
106-016-559-710000 Debt Service-Prinicpal - - 58,181 58,527 125,6301 115%
106-016-559-720000 Debt Service-Interest - - 5,275 4,929 10,051 104%
Total Debt Service - - 63,456 63,456 135,681 114%
Other Expenses
106-016-581-910001 Transfer to General Fund - 2,167 - - 0%
106-016-581-910304 Transfer to N.Atl Ave Imp.Fund - - - - 0%
Total Other Expenses - 2,167 - - 0%
Contingency
106-016-559-990000 Contingency - 84,332 49,868 62,640 -100%
Total Contingency - 84,332 49,868 62,640 -100%
Total Community Redevelopment Agency Fund Budget $ 93,762 $ 126,140 $ 262,063 $ 273,356 \ 475,503 74%