Subject:
Title
Resolution supplementing the FY 2017 General Fund budget for unanticipated revenues to the Economic Development department.
label
Recommended Action:
Recommended Action
Adopt a resolution to recognize unanticipated revenue and appropriate earmarked receipts for a particular purpose in the FY17 General Fund budget for Economic Development.
Body
Strategic Plan:
Foster Continual Economic Growth and Vitality
4.1 Proactively attract and retain businesses with targeted jobs to the county and the region
Summary:
This resolution recognizes and appropriates unanticipated revenues of $10,000 in the FY17 budget for Economic Development. The revenue is from the University of South Florida (USF) to provide initiatives to support technology-based industries and to support and cultivate participation and exposure in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer Research (STTR) programs.
Background Information:
The Sponsorship Agreement between the USF and Pinellas County is an annual sponsorship in the amount of $10,000. In FY17, USF increased the allocation by an additional $10,000 in anticipation of increased activities. A total of $20,000 is anticipated to be spent in the current fiscal year.
Fiscal Impact:
Adoption of this resolution provides for the receipt of $10,000.00 in unanticipated revenue in the General Fund and increases the FY17 operating budget by the same amount.
Staff Member Responsible:
Jason Rivera, Budget and Financial Management Analyst, Office of Management and Budget
Partners:
University of South Florida
Attachments:
Resolution
Agreement with University of South Florida