Agenda Text
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Requesting to appropriate $309,801 from excess FY2016 Community Preservation Act Fund revenue 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 $309,801 from excess FY2016 Community Preservation Act Fund revenues to the Community Preservation Act Fund Budgeted Reserve as recommended by the Community Preservation Committee on October 28, 2015.
In its FY2016 Community Preservation Act Fund budget, the Community Preservation Committee conservatively estimated a state match of $471,359. The City received an actual state match of $781,160 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 FY2016 Tax Recapitulation Sheet.
Sincerely,
Joseph A. Curtatone, Mayor