City of Somerville header
File #: 211199    Version: 1
Type: Mayor's Request Status: Approved
File created: 1/22/2021 In control: City Council
On agenda: 1/28/2021 Final action: 2/11/2021
Enactment date: 1/28/2021 Enactment #: 211199
Title: Requesting to transfer CPA funds totaling $436,069 from the CPA Undesignated Fund Balance to designated CPA Reserve Accounts.
Code sections: Transfer of Funds -

  Agenda Text

title

Requesting to transfer CPA funds totaling $436,069 from the CPA Undesignated Fund Balance to designated CPA Reserve Accounts.

 

body

Official Text

To the Honorable City Council:

 

I respectfully request that your Honorable Board approve the following transfers of Community Preservation Act (CPA) funds totaling $436,069 from the CPA Fund Undesignated Fund Balance to designated CPA reserves, as recommended by the Community Preservation Committee on November 1, 2020, with each item to be considered a separate transfer:

 

1.                     $89,750 from the Undesignated Fund Balance to the Open Space/Recreation Reserve

 

2.                     $67,313 from the Undesignated Fund Balance to the Historic Resources Reserve

 

3.                     $224,376 from the Undesignated Fund Balance to the Community Housing Reserve

 

4.                     $54,630 from the Undesignated Fund Balance to the Budgeted Reserve

 

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