Title
A Resolution Of The Hollywood, Florida Community Redevelopment Agency (“CRA”), Amending The Annual Budget For The Downtown District Of The CRA For Fiscal Year 2025; Revising Fiscal Year 2025 Expenditures.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution
Explanation:
Certain routine and periodic budgetary adjustments and transfers are appropriate and necessary during the fiscal year and as such certain revisions to the Fiscal Year 2024 Adopted Budget are needed to ensure prudent financial management.
The City will be conducting much needed renovations at the Hollywood Beach Golf Course Clubhouse and the CRA has agreed to reimburse the City an amount of $5,050,000 for the related costs over the next two fiscal years.
The proposed Resolution amends the FY 2025 operating budget to transfer funding among CIP accounts to facilitate this reimbursement.
Fiscal Impact:
Funds are being transfer funding among CIP accounts to facilitate this reimbursement as outlined in Exhibit A.
Recommended for inclusion on the agenda by:
Jorge Camejo, Executive Director