File #: ID#16-3074    Version: Name: Florida Orchestra Funding Request
Type: City Manager Verbal Report Status: Withdrawn
File created: 11/30/2016 In control: Council Work Session
On agenda: 12/15/2016 Final action:
Title: Provide the Florida Orchestra and Ruth Eckerd Hall a contribution in the amount of $37,500 each from General Fund Reserves towards the purchase of a new orchestra shell at Ruth Eckerd Hall.
Attachments: 1. REH orchestra shell CF grant FY17.pdf, 2. 18 9 200 429 TFO match commitment ltr dtd 06-03-16.pdf, 3. 16-10-20 Florida Orchestra Shell Request.pdf

SUBJECT/RECOMMENDATION:

Title

Provide the Florida Orchestra and Ruth Eckerd Hall a contribution in the amount of $37,500 each from General Fund Reserves towards the purchase of a new orchestra shell at Ruth Eckerd Hall.

 

Body

SUMMARY: 

 

During the December 12 work session, there was council consensus to provide the Florida Orchestra and Ruth Eckerd Hall $37,500 each from General Fund Reserves to purchase a new orchestra shell at Ruth Eckerd Hall.

 

 

APPROPRIATION CODE AND AMOUNT:

A first quarter budget amendment will increase cost code 010-07000-581000 (Payment to Agencies) to be funded with an allocation of General Fund reserves.

 

USE OF RESERVE FUNDS: 

Funding for this contribution will be provided by a first quarter budget amendment allocating General Fund reserves in the amount of $75,000.  Inclusive of this item if approved, a net total of $2,241,820 of General Fund reserves has been appropriated by Council to fund expenditures in the 2016/17 operating budget. The remaining balance in General Fund reserves is approximately $27.3 million, or 20.7% of the current General Fund operating budget.