Title
Ordinance Amending FY 19-20 CDBG Program Grant Project Budget Ordinance in the Amount of $912,558
Body
Council Priority: Create an Environment to Promote Economic Development Opportunities and Job Creation
Department: Neighborhood Development
Council District: All
Public Hearing: No
Advertising Date/By: N/A
Contact 1 and Phone: Stan Wilson, 373-2509
Contact 2 and Phone: Lamont Taylor, 373-2538
PURPOSE:
City Council consideration is requested for a budget ordinance amending the FY 19-20 CDBG Program Grant Project Budget Ordinance.
BACKGROUND:
The Neighborhood Development Department’s FY 19-20 CDBG program grant project budget ordinance, including entitlement funding and estimated program income, was approved by City Council in June 2019.
Beginning with grant year 2015, HUD program regulations changed and now require grant-based accounting for the City’s CDBG program which means that program income received during the fiscal year must reconciled with the federal system and recognized in the City’s budget. The amount of program income received in FY 19-20 for the CDBG program was more than the estimate at the beginning of the year. The requested ordinance amendment will correctly recognize the actual program income received by the City.
BUDGET IMPACT:
The increased appropriation for FY 19-20 CDBG Program, in the amount of $912,558, is reflected in the attached ordinance.
RECOMMENDATION / ACTION REQUESTED:
City Council is requested to approve the budget ordinance amending FY 19-20 CDBG Program Grant Project Budget Ordinance.