Title
Consideration of and action on an ordinance amending the Fiscal Year 2022-2023 Community Development Corporation budget for bond related fees for Certificates of Obligation, Series 2022.
Body
Summary:
The Fiscal Year 2022-2023 budget for the Community Development Corporation included an estimated bond issuance cost for Certificates of Obligation, Series 2022 in the amount of $200,000.00. Upon receiving the final numbers, the actual issuance costs totaled $207,578.61. Due to the increase in actual issuance cost compared to the estimated cost, a budget amendment is necessary. The additional expenditure appropriation is to be funded by the unassigned fund balance of the Community Development Corporation, which is available for this purpose.
Fiscal/Budgetary Impact:
Add $8,000.00 to the Fiscal Year 2022-2023 budget for the Community Development Corporation (Account No. 850-900-45250, Other Bond Related Fees) to be funded by prior year revenue, which is available for this purpose.
Recommended action
Approve the budget amendment for the Community Development Corporation Fiscal Year 2022-2023 budget.