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Budget Resolutions Recognizing Increased Community Development Block Grant Funds and Decreased HOME Investment Partnership Program Funds for Housing and Supportive Services Department
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BRIEF OVERVIEW
Hernando County received notification from the U. S. Department of Housing and Urban Development of Fiscal Year 2025 allocations for Community Development Block Grant (CDBG) in the amount of $1,137,403.00 and HOME Investment Partnerships (HOME) in the amount of $375,686.50.
Presently the budget for CDBG reflects $1,078,075.00, which is $59,328.00 less than the allocated amount and the HOME funds budgeted reflect $392,306.00 which is $16,619.00 more than the allocated amount. The attached budget resolutions are needed to recognize the differences in funding to administer the programs.
FINANCIAL IMPACT
CDBG:
Fund: 0011 - General Fund, Department: 35071- HHS CDBG Entitlement, Account: 3315003 - FED GRT CDBG EN AL 14.218 revenue shall be added in the amount of $59,328.00 and expenditures added to align with that amount, as detailed on the budget resolution.
HOME:
Fund: 0011 - General Fund, Department: 35087 - HHS HOME INVEST PROGRAM, Account: 3315004 - FED GRT HOME AL 14.239 revenue shall be decreased in the amount of $16,619 and expenditures reduced to align with that amount, as detailed on the budget resolution.
LEGAL NOTE
The Board has authority to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairman’s signature on the attached budget resolutions to recognize additional CDBG funds and a decrease in HOME partnership investment funds.