Agenda Text
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Requesting to appropriate $242,296 from excess FY2015 Community Preservation Act Fund revenues to the Community Preservation Act Fund Budgeted Reserve per the recommendation of the Community Preservation Committee.
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Official Text
To the Honorable Board,
I respectfully request that your Honorable Board appropriate $242,296 from excess FY2015 Community Preservation Act Fund revenues to the Community Preservation Act Fund Budgeted Reserve as recommended by the Community Preservation Committee on November 5, 2014.
In its FY2015 Community Preservation Act Fund budget, the Community Preservation Committee conservatively estimated a state match of $662,621. The City received a state match of $904,917 on November 15, 2014. Appropriating the excess revenue into the Community Preservation Act Fund Budgeted Reserve will allow the City to spend the money after the tax recap.
Sincerely,
Joseph A. Curtatone
Mayor