City of Somerville header
File #: 205214    Version: 1
Type: Mayor's Request Status: Approved
File created: 2/15/2018 In control: City Council
On agenda: 2/22/2018 Final action: 3/8/2018
Enactment date: 2/22/2018 Enactment #: 205214
Title: Requesting to transfer CPA funds totaling $1,214,322 from the CPA Fund Budgeted Reserve to designated CPA reserves per the recommendation of the Community Preservation Committee.
Code sections: Transfer of Funds -
Attachments: 1. BOA FY18 CPA Budget Adjustment Explanation v2

  Agenda Text

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Requesting to transfer CPA funds totaling $1,214,322 from the CPA Fund Budgeted Reserve to designated CPA reserves 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 approve the following transfers of Community Preservation Act (CPA) funds totaling $1,214,322 from the CPA Fund Budgeted Reserve to designated CPA reserves, as recommended by the Community Preservation Committee on November 14, 2017, with each item to be considered a separate transfer:

1.                     $106,185 from the Budgeted Reserve to the Open Space/Recreation Reserve

2.                     $106,185 from the Budgeted Reserve to the Historic Resources Reserve

3.                     $1,001,953 from the Budgeted Reserve to the Community Housing Reserve

Respectfully,

Joseph A. Curtatone

Mayor