| | | | | | | | SEMINOLE COUNTY GOVERNMENT
COUNTY SERVICES BUILDING
1101 EAST FIRST STREET
SANFORD, FLORIDA
32771-1468
BAR 22-005 JGI/QTI CARRYFORWARD | | | |
| | | | | | | | Agenda Memorandum
File Number: 2021 - 3110
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| | | | | | | | | Title: | Approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #22-005 in the amount of $816,443 through the Economic Development Fund to carryforward the Job Growth Incentive (JGI) and Qualified Target Industry (QTI) unexpended project funds from the FY 2020/21 Budget to the FY 2021/22 Budget. Countywide (Timothy Jecks, Deputy CFO/Budget Division Manager) Requesting Department/Division – Administration/Economic Development
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| | | | | | | | | Contact/Phone Number: | | Timothy Jecks, Deputy CFO/Budget Division Manager / 407-665-7181 |
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| | | | | | | | | 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. A detailed list of all outstanding JGI/QTI budgets being carried forward is attached.
The attached BAR through the Economic Development Fund will carryforward the unexpended JGI/QTI project balances for open projects from the FY 2020/21 Budget to the FY 2021/22 Budget. |
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| | | | | | | | | Staff Recommendation: | | Staff recommends the Board approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #22-005 in the amount of $816,443 through the Economic Development Fund to carryforward the Job Growth Incentive (JGI) and Qualified Target Industry (QTI) unexpended project funds from the FY 2020/21 Budget to the FY 2021/22 Budget. |
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