ACTION REQUESTED:
Title
Communication from the City Manager and Finance Director/Comptroller with a Request to ADOPT an ORDINANCE Amending the City of Peoria 2018 - 2019 Biennial Budget Relating to the PEORIACORP FUND to Recognize the Receipt of Grant Funds from the Corporation for National and Community Service (CNCS) for AmeriCorps Funding, in the Amount of $123,285.00, and the Department of Commerce and Economic Development (DCEO) for the Apprenticeship Plus Youth Program, in the Amount of $145,000.00, and the Corresponding Increase in Expenditures Related to the Grants As Well As the Transfer of City Matching Funds from the Storm Water Utility Fund to the PeoriaCorp Fund, in the Amount of $21,800.00. (Requires a Super Majority Vote)
Body
BACKGROUND: On July 25, 2017, the City Council authorized the City Manager to execute a grant agreement with the Serve Illinois Commission for AmeriCorps funding for the PeoriaCorp program in the amount of $138,285.00. The 2017 Revised Annual Budget was amended to reflect the portion of the grant that was anticipated to be used in 2017 in the amount of $15,000.00. The attached ordinance will amend the 2018 - 2019 Biennial Budget to recognize the remaining grant revenues and expenditures in the amount of $123,285.00. The City also received a grant from the Department of Commerce and Economic Opportunity for the Apprenticeship Plus Youth Program in the amount of $205,000.00. The 2017 Revised Annual Budget was amended to reflect the portion of the grant that was anticipated to be used in 2017 in the amount of $60,000.00. The attached ordinance will amend the 2018 - 2019 Biennial Budget to recognize the remaining grant revenues and expenditures in the amount of $145,000.00. The City’s required match for the two programs is $101,547.00. The 2017 Revised Annual Budget was amended to reflect the portion of the match that was anticipated to be used in 2017 in the amount of $79,000.00. The attached ordinance will amend the 2018 - 2019 Biennial Budget to recognize the transfer of matching funds from the Storm Water Utility Fund to the PeoriaCorp Fund in the amount of $21,800.00.
FINANCIAL IMPACT: Increase in revenue and expenditures for the PeoriaCorp Fund in the amount of $290,085.00.
NEIGHBORHOOD CONCERNS: N/A
IMPACT IF APPROVED: Compliance with internal control system and legislative requisite to keep the approved budget balanced.
IMPACT IF DENIED: Failure to recognize increased revenues and expenditures related to the PeoriaCorp Fund budget for 2018.
ALTERNATIVES: N/A
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2017 - 2032 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City
2. Beautiful Peoria
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Have an efficient government.
2. Reinvest in neighborhoods.
3. Support sustainability.
DEPARTMENT: Finance