ACTION REQUESTED:
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Communication from the City Manager and Finance Director/Comptroller with a Request to ADOPT an ORDINANCE Amending the City of Peoria 2017 AMENDED ANNUAL 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 $15,000.00, and the Department of Commerce and Economic Development (DCEO) for the Apprenticeship Plus Youth Program, in the Amount of $60,000.00, and the Corresponding Increase in Expenditures Related to the Grants As Well As the Transfer of City Matching Funds From the General Fund to the PeoriaCorp Fund, in the Amount of $79,000.00.
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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. 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. The City’s required match for the two programs is $101,547. The City’s match will be provided from the remaining budget for the Mayor’s Youth Program budget within the Public Works budget. The attached ordinance amends the 2017 Amended Annual Budget to reflect the amount of each grant and the City match that will be expended in 2017.
FINANCIAL IMPACT: Increase in revenue and expenditures for the PeoriaCorp Fund in the amount of $154,000.
NEIGHBORHOOD CONCERNS: N/A
IMPACT IF APPROVED: Compliance with the 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 2017.
ALTERNATIVES: N/A
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City Government, Effective City Organization
2. Vibrant Downtown: Riverfront/ Central Business District/ Warehouse District
3. Attractive Neighborhoods with Character: Safe and Livable
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