City of Somerville, Massachusetts - File #: 209276

• File #: 209276
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 11/20/2019
• In control: City Council
• On agenda: 11/25/2019
• Final action: 12/12/2019
• Enactment date: 11/26/2019
• Enactment #: 209276
• Title: Requesting to transfer CPA funds totaling $468,808 from the CPA Undesignated Fund Balance to designated CPA reserves per the recommendation of the Community Preservation Committee.
• Code sections: Transfer of Funds -

Date	Ver.	Action By	Action	Result
12/17/2019	8	BOA	Mayoral Approval
12/12/2019	7	City Council	Approved
12/3/2019	6	Finance	Approved
11/26/2019	5	City Council	Referred for recommendation

  Agenda Text

title

Requesting to transfer CPA funds totaling $468,808 from the CPA Undesignated Fund Balance to designated CPA reserves per the recommendation of the Community Preservation Committee.

body

Official Text

To the Honorable Board:

I respectfully request that your Honorable Board approve the following transfers of Community Preservation Act (CPA) funds totaling $468,808 from the CPA Fund Undesignated Fund Balance to designated CPA reserves, as recommended by the Community Preservation Committee on November 19, 2019, with each item to be considered a separate transfer:

1.                     $20,000 from the Undesignated Fund Balance to the Open Space/Recreation Reserve

2.                     $15,000 from the Undesignated Fund Balance to the Historic Resources Reserve

3.                     $147,016 from the Undesignated Fund Balance to the Community Housing Reserve

4.   $286,792 from the Undesignated Fund Balance to the Budgeted Reserve

Respectfully,

Joseph A. Curtatone

Mayor