Agenda Text
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Requesting the appropriation of $31,819 from excess FY17 CPA Fund revenue 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 $31,819 from excess Community Preservation Act Fund revenues to the Community Preservation Act Fund Budgeted Reserve.
In its FY2017 Community Preservation Act Fund budget, the Community Preservation Committee conservatively estimated a state match of $388,862. The City received an actual state match of $420,681 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 FY2017 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