Title
AN ORDINANCE AUTHORIZING THE CITY OF JONESBORO TO AMEND THE 2018 CAPITAL IMPROVEMENT FUND BUDGET AND FEDERAL FUNDS BUDGET FOR THE MEMORANDUM OF UNDERSTANDING AND SUBGRANT AGREEMENT WITH ARKANSAS STATE GAME AND FISH COMMISSION FOR THE JONESBORO SHOOTING SPORTS COMPLEX.
Body
WHEREAS, the City of Jonesboro entered into a Memorandum of Agreement and Subgrant Agreement with the Arkansas Game and Fish Commission for the Jonesboro Shooting Sports Complex in Resolution 17:154; and
WHEREAS, said agreement provides $2,002,844 in funding with a 25% match of all expenditures from the City; and
WHEREAS, 2016 and 2017 expenses for this project totaled $83,724.10 with $62,793.08 being previously requested for reimbursement as well as $20,931.02 in matching funds; and
WHEREAS, the remainder of the Subgrant Agreement funding is expected to be used in 2018; and
WHEREAS, the City of Jonesboro passed the 2018 Budget in Ordinance 17:087, which will need to be amended in order to effectuate said change in the Federal Funds Budget and Capital Improvements Budget; and
WHEREAS, the budgeted expenditure increases will consists of the following:
09-931-0217-00 Professional Services $ 337,206.93
09-931-0232-00 Fixed Assets $1,602,844.00
07-170-2300-00 Grants Match- AGFC Shooting Rng $ 646,682.98
WHEREAS, the budgeted revenue increase will consist of the following:
09-931-0659-00 Federal Funding- DOI $2,002,844.00
WHEREAS, matching funds in the Capital Improvement Budget will come from excess reserves in the General Fund.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS THAT:
SECTION 1: The 2018 Federal Funds Budget is hereby amended to provide a change in the Federal Funds Budget for the Memorandum of Agreement and Subgrant Agreement with the Arkansa...
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