Title:
title
Approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #23-019 in the amount of $864,741 through the Economic Development Fund to carryforward the Job Growth Incentive (JGI) and Qualified Target Industry (QTI) unexpended project funds from the FY 2021/22 Budget to the FY 2022/23 Budget. Countywide (Timothy Jecks, Deputy CFO/Budget Division Manager) Requesting Department/Division - Administration / Economic Development
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Division:
division
Resource Management - Budget
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Authorized By:
Lorie Bailey Brown, CFO / Resource Management Director
Contact/Phone Number:
Timothy Jecks, Deputy CFO / Budget Division Manager / 407-665-7181
Background:
The Board of County Commissioners may approve a business for either the Job Growth Incentive (JGI) program or the Qualified Target Industry (QTI) program. Upon approval, a project is established with corresponding budgeted funds as specified in the executed program agreement. However, these project funds are not always expended as budgeted within a fiscal year and therefore, require that the remaining balance be carryforward to the next fiscal year.
The attached BAR through the Economic Development Fund will carryforward the unexpended JGI/QTI project balances for open projects from the FY 2021/22 Budget to the FY 2022/23 Budget.
recommendation
Staff Recommendation:
Staff recommends the Board approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #23-019 in the amount of $864,741 through the Economic Development Fund to carryforward the Job Growth Incentive (JGI) and Qualified Target Industry (QTI) unexpended project funds from the FY 2021/22 Budget to the FY 2022/23 Budget.