TO: Margate CRA Chair and Members of the Board
FROM: Cale Curtis, CRA Executive Director
DATE: November 19, 2024
Title
AMENDING FISCAL YEAR 2024-2025 ANNUAL BUDGET
Body
BACKGROUND: The MCRA annual budget for FY 2024-2025 was approved by the MCRA Board at the MCRA meeting held on September 11, 2024. With the close-out of the MCRA FY 2023-2024, there is a balance remaining of $3,757,142.47 in the Operating Fund (140 accounts). In accordance with Section 163.387(7) Florida Statutes, these funds will be carried over to the current fiscal year’s budget (FY 2024-2025) and allocated to specific redevelopment projects and programs.
Attached is the budget amendment for fiscal year 2024-2025.
FY 2024-2025 includes a proposed amendment for the allocation of additional funds towards the following existing capital project accounts: Sports Complex Field Upgrades and Land Acquisition.
RECOMMENDATION: Approval
FISCAL IMPACT: The fiscal impact of the budget amendment for each Fund is detailed in Exhibit A attached.
CONTACT PERSON: Cale Curtis, CRA Executive Director