CITY COUNCIL AGENDA ITEM
Memo Date: August 16, 2022
Agenda Date: September 13, 2022
Prepared By: Charlene Neuterman, Community Services Director
Through: Stockton Whitten, City Manager
Requested Action:
title
Approve a Budget Resolution amending the FY2022 Budget, BAF #2022-129-A in the amount of $131,349 for the purchase of 216 Oleander Street and 218 Oleander Street.
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body
BACKGROUND:
In June 2022, City Council approved the purchase of two lots on Oleander Street to complement the four lots already purchased earlier this year. The addition of these lots is for the purposes of increasing the parking capacity for Cocoa Village. The two lots purchased in June were 216 and 218 Oleander Street for $131,349. $875,000 of General Fund fund balance was assigned for Village Parking with the issuance of the FY21 Annual Comprehensive Financial Report. This agenda item is prepared for the purposes of tracking the use of Assigned Fund Balance.
The BAF and Budget Resolution amends the FY2022 budget by moving funds from Fund Balance Reserves (001-0000-389.99-50) to Community Services Land (001-3200-515-61-00).
STRATEGIC PLAN CONNECTION:
Enter text here
BUDGETARY IMPACT:
Budgeted No
If not budgeted, is amendment/transfer attached? Yes
From:
Amount Requested $131,349
Account Number 001-0000-389.99-50
Account Name Assigned Fund Balance
Project # CD22PS
To:
Amount Requested $131,349
Account Number 001-3200-515.61-00
Account Name Land
Project # CD22PS
PREVIOUS ACTION:
On 4/26/2021, City Council approved the use of Assigned Fund Balance to purchase parcels of land in order to expand village parking.
RECOMMENDED MOTION:
Recommendation
Approve a Budget Resolution amending the FY2022 Budget, BAF #2022-129-A in the amount of $131,349 for the purchase of 216 Oleander Street and 218 Oleander Street.