HomeMy WebLinkAbout133-12 RESOLUTIONRESOLUTION NO. 133-12
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE
AMOUNT OF $5,518.00 TO RECOGNIZE COMMUNITY DEVELOPMENT
BLOCK GRANT PROGRAM INCOME RECEIVED FROM A LIEN PAYOFF
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a
budget adjustment in the amount of $5,518.00 to recognize Community Development Block
Grant program income received from a lien payoff.
PASSED and APPROVED this 19th day of June, 2012.
APPROVED: ATTEST:
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'�--- By: � 4,4_,, �-�
SO DRA E.
SMITH, 41/141;
, Mayor City C erk/Treasurer
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Yolanda Fields
Submitted By
City of Fayetteville Staff Review Form
City Council Agenda Items
and
Contracts, Leases or Agreements
6/19/2012
City Council Meeting Date
Agenda Items Only
Community Services
Division
Action Required:
Development Services
Department
Approval of Budget Adjustment recognizing CDBG program income received from a Housing Program lien payoff in
the amount of $5,518.
Cost of this request
2180.4940.5315.00
Account Number
Project Number
Budgeted Item
$
Category / Project Budget
Program Category / Project Name
Funds Used to Date Program / Project Category Name
Community Services
Remaining Balance Fund Name
Budget Adjustment Attached
X
Department
A—
4q6k744.
ors-,
Ci orney
Finance and Internal Services Director
Date
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Date
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Date
5:o019'
Date
373dhz
Datre
Previous Ordinance or Resolution #
Original Contract Date:
Original Contract Number:
O5 -25-12A09:29 RCVD
Received in City
Clerk's Office ' .
Staff recommends approval of the Budget Adjustment.
Revised January 15, 2009
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THE CITY OF FAYETTEVILLE, ARKANSAS
DEPARTMENT CORRESPONDENCE
I ARKANSAS
www/accessfayettevil le.org
CITY COUNCIL AGENDA MEMO
To: City Council �J
Thru: Jeremy Pate, Dir. Community DevelopmentCl�
From: Yolanda Fields, Dir. Community Ser
Date: May 23, 2012
Subject: Approval of a Budget Adjustment for the Community Services Division
PROPOSAL:
The Community Development Block Grant Housing Program assists qualified low -moderate income
homeowners in Fayetteville to be able to remain in their homes by providing home rehabilitation such as siding,
roofing, doors, windows, electrical and plumbing upgrades. A forgivable lien is placed on rehabilitated homes
that reflects the cost of the project. If the home is sold before the forgivable lien period expires, the balance of
the lien must be repaid to the CDBG program as Program Income.
Community Services would like to budget the Program Income received from a Housing Program lien payoff in
the amount of $5,518.
RECOMMENDATION:
Staff recommends approval of a budget adjustment to budget the CDBG Program Income.
BUDGET IMPACT:
Increase the Contract Services account for the CDBG Housing Program by $5,518 as listed in the budget
adjustment. The Housing Program's Contract Services account is used to pay for housing rehabilitation for
qualified low -moderate income homeowners in Fayetteville.
RESOLUTION NO.
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE
AMOUNT OF $5,518.00 TO RECOGNIZE COMMUNITY DEVELOPMENT
BLOCK GRANT PROGRAM INCOME RECEIVED FROM A LIEN PAYOFF
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a
budget adjustment in the amount of $5,518.00 to recognize Community Development Block
Grant program income received from a lien payoff.
PASSED and APPROVED this 19th day of June, 2012.
APPROVED: ATTEST:
By: By:
LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer
City of Fayetteville, Arkansas
Budget Adjustment Form
V11.0425
Budget Year
2012
Division: Community Services
Department: Development Services
Request Date
5/27/2012
Adjustment Number
BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION
Increase Housing Contract Services by $5,518 to recognize CDBG Program Income.
Budget tor
DepakDirector
Finance Di-ctor
Date
OSA-10t1/
Date
S-2.9^2011,
Date
Date
Account Name
Prepared By: Rachel
Reference:
rafields
Budget & Research Use Only
Type: A BCD EP
General Ledger Date
Posted to General Ledger
Checked / Verified
TOTAL BUDGET ADJUSTMENT
Account Number
5,518
5,518
Increase / (Decrease)
Project.Sub
Expense Revenue Number
Contract services
2180.4940.5315.00 5,518
CDBG program income 2180.0918.4910.00
5,518
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