TO: Mayor and Commissioners
FROM: Laura Thezine, Interim Finance Director
THROUGH: Jennifer Alvarez, Interim City Manager
DATE: February 9, 2021
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AMENDMENT TO THE GENERAL CONSTRUCTION FUND BUDGET IN THE CAPITAL IMPROVEMENT PROGRAM FOR LEASE PAYMENT IN THE AMOUNT OF $644,000 TO COMMUNITY LEASING PARTNERS, INC. FOR SELF-CONTAINED BREATHING APPARATUS (SCBA) AND CYLINDER EQUIPMENT TO BE USED BY THE FIRE DEPARTMENT
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Recommended Action:
Recommendation
Motion to Approve Amendment to the General Construction Fund in the amount of $585,455 Federal Grants FEMA/SCBA and $58,545 in Prior Year Surplus to make the initial lease payment of $644,000.
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Background:
This is a request to amend the General Construction Fund budget to make the initial lease payment for the SCBA and cylinder equipment in the amount of $644,000. On January 16, 2020, the City Commission authorized the City Manager to execute the lease agreement. A budget amendment was done in FY2020 to support the funds to be received by FEMA, prior year surplus reserves, and the initial payment. However, the equipment and FEMA grant funds were not received until FY 2021. In accordance with the lease agreement terms, the City is to remit the first payment upon closing. Therefore, the City is seeking approval to amend the General Construction fund budget to make the first lease payment in the amount of $644,000 and to appropriate the funds received from FEMA for $585,455 and $58,545 from Prior Year Surplus.
City Attorney Review:
Approved as to form and legal sufficiency.
Funding Source/Financial Impact:
The following accounts will be amended:
334-00-000-331-408 Federal Grants FEMA/SCBA - $585,455
334-00-000.301-034 Prior Year Surplus - $58,545
334-85-850-517-71-50 Debt Principal Lease - $644,000
Timing of Request:
Approval of this request will address anticipated future changes in normal capital improvement activity.