Agenda 10-01-02 Requested City Commission
Meeting Dates
[] August 6, 2002
[] August 20,2002
[] September 3,2002
[] September 17,2002
VII.-CONSENT AGENDA
ITEM C.2.
CITY OF BOYNTON BEACH ~
AGENDA ITEM REQUEST FORM 6(g¢ ¢:e
Date Final Form Must be Turned
in to City Clerk's Office
Requested City Commission
Meeting Dates
Date Final Form Must be Turned
in to City Clerk's Office
July 17, 2002 (5:00 p.m.)
August 5, 2002 (Noon)
August 19, 2002 (Noon)
[] October 1,2002
[] October 15,2002
[] November 6,2002
September 16, 2002 (Noon)
September 30, 2002 (Noon)
October 14, 2002 (Noon)
September 3, 2002 (8:00 a.m.) [] November 19, 2002
November 5, 2002 (Noon)
NATURE OF
AGENDA ITEM
[] Administrative
[] Consent Agenda
[] Public Hearing
[] Bids
[] Announcement
[] City Manager's Report
[] Development Plans
[] New Business
[] Legal
[] Unfinished Business
[] Presentation
RECOMMENDATION:
Approve resolution establishing CRA Operating Account.
EXPLANATION:
Attached resolution provides for transfer of CRA increment funds directly to the CRA.
The resolution has a "reverter clause" in the event a City Commission opts to abolish the
CRA.
PROGRAM IMPACT:
Transfer of funds allows the City Finance Department to concentrate on other activities.
All fund use by the CRA is subject to governmental accounting and audit rules.
FISCAL IMPACT: None
ALTERNATIVES: Decline to approve the resolution. This would mean that CRA revenues and
expenditures would be accounted through City system.
~/] Department Head's Signature - City Manager's Signature
C. C3MMISSI0 I
Department Name ...... ~ity Attorney / Finance / Human Resources
OCT 1
APPROVAL
S:\BULLETIN\FORMS~AGENDA ITEM REQUEST FORM.DOC
RESOLUTION 02-
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA, APPROVING
THE BALANCE OF FUNDS IN THE CRA FUND ON
SEPTEMBER 30, 2002, BE TRANSFERRED TO A
SEPARATE INDEPENDENT CRA OPERATING
ACCOUNT; AND PROVDING AN EFFECTIVE DATE.
WHEREAS, at the request and recommendation from the Board of the CRA, the
fund balance at September 30, 2002 in the CRA Fund ear-marked for the operation of the
ERA will be transferred to a separate bank CRA operating account, under the direct
mpervision and control of the CRA Board; and
WHEREAS, the CRA shall provide the City with monthly accounting summaries
md annual accounting summaries; and
WHEREAS, it is understood and agreed that if at any time the CRA Board is
tbolished by the City Commission, or the City Commission elects to reassume control of the
~RA, then in that event all of the funds remaining in the separate CRA operating bank
iccount will revert to the CRA Fund within the City's general operating fund;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
rile CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The foregoing Whereas clauses are true and correct and are adopted as
:he basis for the following transfer of funds.
Section 2. The City Commission hereby authorizes the transfer of the fund
)alance at September 30, 2002, in the CRA Fund Budget which has been ear-marked for the
~RA be transferred to a separate bank operating account for the CRA, under the direct
;upervision and control of the CRA Board.
Section 3. It is understood and agreed that if at any time the CRA Board is
ibolished by the City Commission, or the City Commission elects to reassume control of the
CRA, then in that event, all of the funds remaining in the separate CRA operating bank
account will revert to the CRA Fund within the City's general operating fund
Section 3. That this Resolution will become effective immediately upon passage.
PASSED AND ADOPTED this ~ day of October, 2002.
CITY OF BOYNTON BEACH, FLORIDA
Mayor
Vice Mayor
Commissioner ~
Commissioner
Commissioner
Clerk
(Corporate Seal)
~:ca\Reso\Transfer - COBB to CRA