Title
Amending the Budget to Accommodate a Request by ROHR, Inc.
Summary
Description of Topic: Resolution 16-1122 approved a $1,500,000 Project Agreement with ROHR, Inc. and a line of credit to be used to make three $500,000 reimbursement installments, the first of which was to be paid on or before 9/30/2016 and was subsequently budgeted in FY2016. ROHR is now requesting the first $500,000 reimbursement to occur after October 3rd, 2016 which is in a new fiscal year. The FY2017 Economic Incentive Fund budget (beginning on page 155 of the City's adopted FY17 Budget document) needs to be amending accordingly to increase the loan funding revenue and the expense of the reimbursement which has a zero net effect to the bottom line. (who, what, where, when, why and how much)
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.
__x__ Not budgeted requiring increase to account #_32-5601 & 32-627-8010__ in the amount of $500,000 each, zero net effect to bottom line_.
Capital - Departmental
____ Budgeted under account #______________ for $___________ and described in budget as __________________________________.
Additional amount needed, if any: Increase in budget of $_____________ OR, transfer of $___________ from Account #____________ to Account #_______________
____ Not Budgeted - account #____________ requires budget increase of $_____________.
Capital Project - **THE PRE-PROJECT CHECKLIST AND BUDGET CHECKLIST MUST BE ATTACHED TO THIS FILE**
In current year Capital Projects Plan:
_____ Yes, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #...
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