TR-2016-7 RESOLUTION RESERVING CPA FUNDS
TR-2016-7 ppry ad,
A RESOLUTION AUTHORIZING THE RESERVATION OF SURPLUS FUNDS FROM
THE COMMUNITY PRESERVATION FUND
WHEREAS,the voters of Agawam chose to form a Community Preservation
Committee,and
WHEREAS,The FY2016 State budget provided supplemental CPA funding from the
State's General Fund surplus which resulted in an increase to the state matching funds
WHEREAS,the Community Preservation Committee has not met the annual 10%
appropriation/reservation requirement for all three purposes due to the timing of the trust fund
distribution and the amount in excess of the previous recommendation
WHEREAS the Community Preservation Committee must make a corrective
appropriation from their FY2016 budgeted reserve or the CPA unreserved fund balance
WHEREAS one of the Community Preservation Committee's requirements is that it
reserves funds for specific uses under the Community Preservation Act;
WHEREAS,the Community Preservation Committee's has recommended that$5,273.40
should be reserved for Open Space from the Community Preservation Fund undesignated fund
balance for fiscal year 2016
WHEREAS, the Community Preservation Committee's has recommended that$5,273.40
should be reserved for Historical Resources from the Community Preservation Fund
undesignated fund balance for fiscal year 2016
WHEREAS,the Community Preservation Committee's has recommended that$5,273.40
should be reserved for Community Housing from the Community Preservation Fund
undesignated fund balance for fiscal year 2016
WHEREAS,the Community Preservation Committee's has recommended that$2,636.71
should be reserved to the Administrative fund from the Community Preservation Fund
undesignated fund balance for fiscal year 2016
NOW THEREFORE,BE IT RESOLVED BY THE AGAWAM CITY COUNCIL
that funds from the Community Preservation Fund undesignated fund balance for Fiscal Year
2016 shall be reserved as follows:
$5,273.40 reserved for Open Space;
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$5,273.40 reserved for Historic Resources; �=' Aj
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$5,273.40 reserved for Community Housing; 4e, maS6 e r
$2,636.71 for Administrative Fund
PER ORDER OF THE AGAWAM CITY COUNCIL
Jamesttichetti,City 4ffoiincil President
APP OVED A TO FORM AND LEGALITY
Vince Gioscia,City Solicitor
CERTIFIED AS TO FUNDS AVAILABLITY
Cheryl St. J ,Audito
MAYORAL ACTION
Received this day of P-b M a. 2016 from Council Clerk.
Signed by Council President this IV day of ,2016.
APPROVAL OF LEGISLATION
By the powers vested in me pursuant to Article 3, Section 3-6 of the Aga w arter, as
amended, I hereb approve the passage of the above legislation on this l day of
ona2016.
Richard A. Cohen,Mayor
DISAPPROVAL OF LEGISLATION
By the powers vested in me pursuant to Article 3, Section 3-6 of the Agawam Charter,as
amended,I hereby veto the passage of the above legislation on this day of
2016 for the following reason(s):
Richard A. Cohen, Mayor
RETURN OF LEGISLATION TO COUNCCILCLERK
Returned to Council Clerk this 17-t day of k , 2016.