FY09 CPA Funds
May 22, 2008
To: Mayor Clare Higgins
From: Jack Hornor, Chair, Community Preservation Committee (CPC)
Re: Request for Transfer/Appropriation of Fiscal 2009 CPA Funds
At its meeting on Wednesday, May 21, 2008, the Community Preservation
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Community voted to request that the following appropriations/transfers be made by
the City Council. These requests were voted on as a package by the committee.
These appropriations/transfers will ensure that CPA money is available for spending
at the beginning of the 2009 fiscal year. The amounts are based on a estimated FY09
Total Estimated CPA Revenue of $1.3 million ($735,000 to be collected locally during
the FY09 fiscal year, and $564,908 to be received in October 2008 as the state match
of the estimated $735,000 to be collected locally in FY08.)
The committee asks that you present these requests to the City Council so that they
can be acted on before the end of FY08.
If you have any questions, please feel free to contact me.
To transfer $130,000 from FY09 Total Estimated CPA Revenue to the
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Community Preservation Fund Open Space Reserve
To transfer $130,000 from FY09 Total Estimated CPA Revenue to the
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Community Preservation Fund Historic Preservation Reserve
To transfer $130,000 from FY09 Total Estimated CPA Revenue to the
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Community Preservation Fund Affordable Housing Reserve
To appropriate $65,000 from FY09 Total Estimated CPA Revenue to the
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Community Preservation Fund Administrative Account.
To transfer $845,000 from FY09 Total Estimated CPA Revenue to the
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Community Preservation Fund Budgeted Reserve