§ 106.342. CRA Board authorized to make transfers between CRA Budget Categories without further Council approval.

(a)

Budget Transfer Authority . Within the appropriations authorized in an Approved CRA Budget, a CRA Board is authorized to transfer funds between CRA Budget Categories in an Approved CRA Budget without further Council approval as provided below:

(1)

Year-end Reconciliation . Within 60 days following the end of each fiscal year, the Director of Finance and Administration, or designee, in consultation with the CRA Board Administrator, is authorized to true up an Approved CRA Budget for the preceding fiscal year and transfer within or between CRA Budget Categories up to an aggregate of $25,000.00. Prior CRA Board approval shall be required for any year-end transfer by the Director of Finance and Administration in excess of $25,000.

(2)

Transfer to Future Years Debt Reduction Category . During the year, a CRA Board may transfer funds from Plan Authorized Expenditures Category to Future Years Debt Reduction Category for the anticipated debt of a specific Project or Program.

(3)

Year-end Transfers pursuant to Chapter 163, F.S . Prior to the end of the fiscal year, a CRA Board is authorized to transfer funds remaining in all CRA Budget Categories pursuant to the requirements of Section 500.112, Ordinance Code, and F.S. § 163.387(7)(b), (c) or (d). Pursuant to F.S. § 163.387(7)(a), any funds remaining in the Trust Fund at the end of the fiscal year that have not been encumbered or allocated to an activity that carries over as provided in this Subpart and that have not been allocated in accordance with F.S. § 163.387(7)(b), (c) or (d), as amended, shall be returned to the General Fund of the City on an annual basis, or in the case of the DIA, as required in Section 111.640, Ordinance Code.

(4)

Transfer of excess funds to Unallocated Plan Authorized Expenditures. Any excess funds remaining after completion of a Program, Plan Capital Project, Plan Professional Service, or after payment for a specific financial obligation within the Financial Obligation Category is made shall be transferred to the Unallocated Plan Authorized Expenditures within the Plan Authorized Expenditures Category for future allocation as determined by the CRA Board.

(5)

Transfer to Financial Obligations Category . During the fiscal year and subject to available funds in each Program, a CRA Board may implement Programs that also include new financial obligations and, as a result of such obligations, transfer funds from Plan Authorized Expenditures to new activities within the Financial Obligations Category.

Other than the permitted CRA Board budget transfers provided in this subsection (a), a CRA Board may not transfer funds between CRA Budget Categories contained on an Approved CRA Budget without prior Council approval.

(b)

Written Board Resolution Required . Any transfers by a CRA Board in accordance with this section shall require a written board resolution in the same manner as provided in Section 106.344 of this Subpart.

(Ord. 2018-555-E , § 3)