File #: 13-325    Name: Budget Amendment CGAC
Type: Ordinance Status: Approved
In control: City Council Regular Meeting
On agenda: 4/2/2013 Final action: 4/2/2013
Title: Consider/Discuss/Act on an Ordinance of the City Council of the City of McKinney Texas Authorizing Certain Budget Amendment Pertaining to the Fiscal Year 2012-13 Budget for CDBG Reallocation
Attachments: 1. Agenda Item Summary, 2. Ordinance, 3. Spreadsheet
Title
Consider/Discuss/Act on an Ordinance of the City Council of the City of McKinney Texas Authorizing Certain Budget Amendment Pertaining to the Fiscal Year 2012-13 Budget for CDBG Reallocation
 
Summary
 
MEETING DATE:      April 2, 2013
 
DEPARTMENT:       Housing & Community Development
 
CONTACT:        Shirletta Best, Community Services Administrator
 
 
RECOMMENDED CITY COUNCIL ACTION:      
·      Approve budget amendment for CDBG FY 2012-13 fiscal year.
 
ITEM SUMMARY:  
·      The budget amendment serves to administratively correct approved CDBG funding reallocated for previous fiscal year for use in FY 2012-13 under housing activities.  Funding will be used for housing rehabilitation activities including emergency, minor and major repairs for low-income persons.
 
·      All funding has been allocated to programs or awarded.  
 
 
BACKGROUND INFORMATION:  
·      Budget, including reallocation was approved by City Council July 17, 2012.
 
FINANCIAL SUMMARY:  
·      The increase of $92,981 will increase the housing rehab budget from $87,400 to $180,381. The increase of $15,000 will increase the grants to community from $26,579 to $41,579.
 
BOARD OR COMMISSION RECOMMENDATION:
·      N/A