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Ordinance Amending Various Project and Grant Funds for Adjustments and Corrections from Budget to Actual Funding and Expenditures
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Department: |
Finance |
Meeting Date: |
5/6/2025 |
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Contact Name: |
Michael Pirsch |
Public Hearing: |
No |
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Contact Phone: |
(910)-342-2771 |
Advertising Date/Advertised By: |
N/A |
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Attachments: |
Attachment #1: Ordinance |
PURPOSE:
Attached for your consideration is an ordinance amending the Community Development Block Grant (“CDBG”) and Home Investment Partnerships Program (“HOME”) funds for adjustments and corrections from budget to actual funding and expenditures.
BACKGROUND:
During the lifespan of grant projects, changes to projections of revenue funding and expenditures require adjustments to the budget to account for these changes. This ordinance provides a “clean-up” of multiple grant projects to account for changes in funding amounts from grantors, as well as corrections to miscoded accounts.
BUDGET IMPACT:
Funding located in Loan Fund 712 (Commercial Rehab Loan Fund) and Loan Fund 717 (Home Loan Fund), in the amounts of $1,850 and $842,716 respectively, are available for this purpose.
RECOMMENDATION / ACTION REQUESTED:
Passage of the attached ordinance is recommended.