Title
Amending the 2022 Housing and Redevelopment Authority (HRA) spending and financing plans to record cost-neutral changes and carryforward adjustments, Citywide
Body
WHEREAS, the 2022 HRA Adopted Budget included administrative costs and support for the Planning and Economic Development (PED) department; and
WHEREAS, $86,091 of said costs were budgeted in an accounting unit and posting account that need to be adjusted to better reflect the nature of the expense; and
WHEREAS, the 2022 HRA Adopted Budget included the use of 7 Corners/Gateway parking lot proceeds; and
WHEREAS, $100,000 of said costs were budgeted in a posting account that needs to be adjusted to better reflect the nature of the expense; and
WHEREAS, the adjustments above will result in no increase or decrease to spending, they will transfer the budget to the correct posting account and accounting unit; and
WHEREAS, the 2022 HRA Adopted Budget included carryforward from 2021 to cover future programs; and
WHEREAS, the carryforward amount included in the adopted budget was overestimated by $310,647; and
WHEREAS, a reduction of $310,647 in spending and revenue is needed to correct the 2022 HRA Adopted Budget; and
NOW, THEREFORE BE IT RESOLVED, by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota that the 2022 HRA Adopted Budget be amended, as shown in the attached financial analysis; and
BE IT FURTHER RESOLVED that the Executive Director and staff of the HRA are authorized and directed to take all actions needed to implement this resolution.