MOTION TO APPROVE: Approval of the Amended MTECC Operating Fund Budget and Capital Project Fund for fiscal year 2023-24.

This provides the budget authority for MTECC Operating Fund and Capital Project Fund for the Project B-23-CP-FL-0383 - COCONUT CREEK HUD PROJECT - LIGHTING ON LYONS ROAD, as advances from the Operating Fund to the Capital Projects Fund of $25,000 for the project to support the Board’s approval of MTECC’s support of Coconut Creek.

The Annual Budget provides the authority for MTECC’s activities in delivering projects on behalf of MTECC members.

 

The amended budget makes the following adjustments:

 

· Project activities have begun for the Coconut Creek Lyons Road Lighting project requiring an advance from the MTECC Operating Fund to the MTECC Capital Projects Fund. This is funded from an advance of $25,000.00 for the project. These funds will be replenished once the Tri-Party Project Agreement is expected to be executed with Broward MPO, the City of Coconut Creek and MTECC later in fiscal year 2023-24 to the extent funds may have been expended by the Program Management Consultant up to the maximum of $25,000 per project.

 

The key amended line items are highlighted in yellow highlights in the attached Exhibit A on pages 5, 7 and 8.

The Annual Budget provides the authority for MTECC’s activities in delivering projects on behalf of MTECC members.

 

The amended budget makes the following adjustments:

 

· Project activities have begun for the Coconut Creek Lyons Road Lighting project requiring an advance from the MTECC Operating Fund to the MTECC Capital Projects Fund. This is funded from an advance of $25,000.00 for the project. These funds will be replenished once the Tri-Party Project Agreement is expected to be executed with Broward MPO, the City of Coconut Creek and MTECC later in fiscal year 2023-24 to the extent funds may have been expended by the Program Management Consultant up to the maximum of $25,000 per project.

 

The key amended line items are highlighted in yellow highlights in the attached Exhibit A on pages 5, 7 and 8.

Recommend approval of the amended MTECC Operating Budget and MTECC Capital Project Fund Budget for fiscal year 2023-24.

If you have any questions about this item, please contact Lowell Clary at (850) 212-7771 and claryl@mteccfl.org.