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Approve an Appropriate Transfer Request (ATR) of $100,000 to recognize unanticipated revenue for FY2019/20 from the Syar Foundation for tenant improvements, including appropriations of $15,568 for fixed assets, at the First 5 Center in Vallejo (4/5 vote required)
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Published Notice Required? Yes ___ No _X _
Public Hearing Required? Yes ___ No _X _
DEPARTMENTAL RECOMMENDATION:
First 5 Solano recommends the Board approve an Appropriate Transfer Request (ATR) of $100,000 to recognize unanticipated revenue for FY2019/20 from the Syar Foundation for tenant improvements, including appropriations of $15,568 for fixed assets, at the First 5 Center in Vallejo. (4/5 vote required)
SUMMARY/DISCUSSION:
First 5 Solano is pursuing opening a First 5 Center in Vallejo of approximately 9,000 square feet for a multitude of services for parents/caregivers and young children and the First 5 Solano administrative offices. First 5 Solano has identified a location at 3375 Sonoma Blvd. and has secured a lease and a nonprofit agency to provide the services. First 5 Solano is currently working with the landlord to make tenant improvements to prepare the space.
First 5 Solano has been seeking funding for tenant improvements and approached Syar Foundation which agreed to provide a $100,000 contribution toward tenant improvements. This ATR recognizes the revenue and expenditure associated with this contribution. Included in the appropriations is $15,568 in fixed asset computer equipment. 100% of the contribution will be utilized for tenant improvements in FY2019/20.
The Board has been supportive of securing the site and tenant improvements for the First 5 Center and provided $200,000 in General Fund toward tenant improvements in FY2018/19. First 5 Solano is continuing to seek funding for tenant improvements and program costs to offset First 5 Commission expenses.
FINANCIAL IMPACT:
The costs associated with preparing the agenda item are nominal and absorbed by the Department’s FY2019/20 Adopted Budget. The $100,000 contribution was not included in the FY2019/20 Requested Budget and, therefore, an ATR must be approved by the Board.
ALTERNATIVES:
The Board could elect to not approve the ATR in the amount of $100,000 for the contribution toward tenant improvements; however, this is not recommended as tenant improvements are needed to make the space functional for services for young children and any funding received will offset funding needed from the First 5 Solano Commission.
OTHER AGENCY INVOLVEMENT:
There was no other agency involvement in this item.