Community Redevelopment Agency Budget Carryover Resolution

Original title: SUPPLEMENTAL BUDGET RESOLUTION NO. 2023-01 CRA - NON-ENCUMBERED CARRYOVER RESOLUTION

Record date · January 17, 2023

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What This Bill Does

This resolution authorizes the Community Redevelopment Agency () to carry over unspent funds from the previous budget cycle into the current fiscal year. It ensures that previously allocated but unused money remains available for agency projects.

Why it matters

This resolution determines the total amount of funding available for local redevelopment projects by officially rolling over unspent budget balances from the prior year.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Community Redevelopment Agency

The agency gains legal authority to utilize funds that were not spent in the prior fiscal year.

Key Facts

The resolution authorizes the carryover of non-encumbered funds into the new budget cycle.
The resolution is officially designated as 2023-01 CRA.
The resolution was introduced on December 20, 2022.
The resolution has been passed by the Community Redevelopment Agency.

Frequently Asked Questions

What does 'non-encumbered carryover' mean?

It refers to money that was budgeted for a project but not yet spent or legally committed to a contract, which is moved forward to be available for use in the current year.

Does this resolution create new taxes?

No, this resolution only moves existing, unspent funds from a previous budget period into the current one.

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