Agenda Text
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Requesting to appropriate $227,459 from excess FY19 Community Preservation Act Fund revenue to the Community Preservation Act Fund Budgeted Reserve.
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Official Text
To the Honorable Board:
Per the Community Preservation Committee’s recommendation, I respectfully request that your Honorable Board appropriate $227,459 from excess Community Preservation Act Fund revenues to the Community Preservation Act Budgeted Reserve.
In its FY2019 Community Preservation Act Fund budget, the Community Preservation Committee conservatively estimated a state match of $204,883. The City received an actual state match of $432,342 in November. Appropriating the excess revenue to the Community Preservation Act Fund Budgeted Reserve will allow the City to spend the money after approval of the FY019 Tax Recapitulation Sheet.
My staff will be available to address any questions you may have. Thank you for your consideration of this item.
Respectfully Submitted,
Joseph A. Curtatone, Mayor