SUBJECT/RECOMMENDATION:
Title
Approve a reimbursement grant of $50,000 to the U.S. Coast Guard Auxiliary BE SAFE Inc. for parking lot improvements and authorize the appropriate officials to execute same. (consent)
Body
SUMMARY:
At the City Council work session on November 13, 2018, council discussed a funding request from the U.S. Coast Guard Auxiliary BE SAFE Inc. and requested a one-time reimbursement grant be brought back for approval. Approval is requested for a support reimbursement grant to BE SAFE Inc., a 501(c)(3) charitable corportation, in the amount of $50,000.00 for parking lot improvements associated with their facility located at 510 N. Ft Harrison Avenue.
APPROPRIATION CODE AND AMOUNT:
A first quarter budget amendment will allocate $50,000 from General Fund reserves to Non-Departmental cost code 0107010-581000 (Payment to Agencies) to fund this agreement.
USE OF RESERVE FUNDS:
Funding for this contract will be provided by a first quarter budget amendment allocating General Fund reserves in the amount of $50,000 to Non-Departmental cost code 0107010-581000. A net total of $752,375 of General Fund reserves has been used to date to fund expenditures in the 2018/19 operating budget. The remaining balance in General Fund reserves after the 8.5% reserve is approximately $8.9 million, or 6.0% of the current General Fund operating budget.