Agenda Text
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Requesting the appropriation of $46,401 from excess FY18 CPA Fund revenues to the CPA 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 $46,401 from excess FY18 Community Preservation Act Fund revenues to the Community Preservation Act Fund Budgeted Reserve.
In its FY2018 Community Preservation Act Fund budget, the Community Preservation Committee conservatively estimated a state match of $324,064. The City received an actual state match of $370,465 in November. Appropriating the excess revenues to the Community Preservation Act Fund Budgeted Reserve will allow the City to spend the money after approval of the FY2018 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