Fort Walton Beach Resolution — 2016-1—FY 16-17 CRA Budget — reading text

CRA RESOLUTION CRA- 2016- 1 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF FORT WALTON BEACH, FLORIDA, ADOPTING THE BUDGET FOR CERTAIN EXPENDITURES, EXPENSES, AND CAPITAL IMPROVEMENTS FOR THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF FORT WALTON BEACH, FLORIDA, FOR THE YEAR BEGINNING OCTOBER 1, 2016 AND ENDING SEPTEMBER 30, 2017; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Fort Walton Beach requires that the Community Redevelopment Agency( CRA) of the City of Fort Walton Beach pass and adopt its annual budget; and WHEREAS, the CRA Board has reviewed the proposed budget and desires to approve and adopt the annual CRA budget for Fiscal Year 2016- 17 as presented. NOW THEREFORE BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF FORT WALTON BEACH, FLORIDA AS FOLLOWS: Section 1. Purpose Prior to the beginning of a new fiscal year, the Community Redevelopment Agency CRA) of the City of Fort Walton Beach is required to pass and adopt a budget for the operation of the CRA. The CRA held a public budget meeting on August 8, 2016, to discuss the FY 2016- 17 budget. Section 2. Adoption of Budget The budget is being presented as a balanced budget whereby there are sufficient revenues to offset all estimated expenditures or expenses. All budget appropriations are based upon the total expenditure and/ or expenses even though the budget has been prepared based on line items and summarized to a categorical level. The total amount of the CRA budget is $ 1, 685, 206. Section 3. Effective Date This resolution shall become effective on and after October 1, 2016. Q;' _ ` . xt` r u. i ' Zichard Rynearso , Chairman v . 3 ,. AttC •:+-:r1r Approved for form, legal suff ' cy tr:. _ Ki . Barnes, City Clerk a a ykes, Jr., City orne