Title:
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Approve and authorize the Chairman to execute a Resolution implementing the Budget Amendment Request (BAR) #24-033 in the amount of $390,000 to appropriate an interfund transfer from the General Fund Reserves to the Economic Development Fund for Economic Development agreements previously approved by the Board and a membership for the Metro Orlando Defense Task Force. Countywide (Timothy Jecks, Management & Budget Director) Requesting Department - Innovation & Strategic Initiatives
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Division:
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Management and Budget
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Authorized By:
Timothy Jecks, Management and Budget Director
Contact/Phone Number:
Wendy Aviles/407-665-7182
Background:
The following agreement was approved by the Board on 12/12/23:
- Prospera - $60K
The following agreement was approved by the Board on 2/27/24:
- Cenfluence (The Corridor) - $300K (Only $225K will be required through the end of FY24.)
The following agreements were approved by the Board on 3/12/24:
- Tech Sassy Girlz - $40K
- First Robotics - $40K
Metro Orlando Defense Task Force (MODTF)
The department is also requesting an additional $25K for the Metro Orlando Defense Task Force membership for FY24. MODTF is a joint effort between Orange County Government, the City of Orlando, the Orlando Economic Partnership (OEP), the University of Central Florida, the Central Florida Research Park Authority, and National Center for Simulation to mitigate the threat posed by sequestration of the federal budget to Central Florida’s Modeling, Simulation & Training (MS&T) industry. Additionally, the MOTDF works to protect, promote, and grow the MS&T industry in Central Florida.
General Fund Reserves are currently budgeted at $55.3 million.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute a Resolution implementing the Budget Amendment Request (BAR) #24-033 in the amount of $390,000 to appropriate an interfund transfer from the General Fund Reserves to the Economic Development Fund for Economic Development agreements previously approved by the Board and a membership for the Metro Orlando Defense Task Force.