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Budget Resolution Recognizing Prior Year Funding From Department of Transportation Grant for Runway Repair and Rehabilitation at Brooksville-Tampa Bay Regional Airport
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BRIEF OVERVIEW
On June 27, 2023, Document ID No. 12320, the Board approved State Financial Assistance Agreement FPN 45070319401 in the amount of $2,000,000 (no matching funds required) for CIP 111917 Runway Conversion-Runway Repair and Rehabilitation of the abandoned runway at Brooksville-Tampa Bay Regional Airport. This grant was not carried forward to the 2024 budget and needs to be formally recognized to issue a Purchase Order.
FINANCIAL IMPACT
The applicable budget resolution is attached. The line items are summarized below:
Revenue:
Fund: 4311 - Airport/Industrial Park, Department: 34299 - AP-RUNWAY CONVERSION, Account: 3896001 - ST GRT-FDOT 55.004 CAP in the amount of $2,000,000.00
Expense:
Fund: 4311 - Airport/Industrial Park, Department: 34299 - AP-RUNWAY CONVERSION, Account: 5666537 - CIP-AP DSGN/CNSTR TXWYS in the amount of $2,000,000.00
LEGAL NOTE
The Board has the authority to act on this item pursuant to Part II, Chapter 2, Article V of the Hernando County Code of Ordinance.
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RECOMMENDATION
It is recommended the Board approve and authorize the Chairperson’s signature on the attached budget resolution recognizing funding in the amount of $2,000,000 from State Financial Assistance Agreement No. FPN45070319401 for Brooksville-Tampa Bay Regional Airport.