REPORT/RECOMMENDATION TO THE BOARD OF DIRECTORS
OF THE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (CoIDA)
AND RECORD OF ACTION
June 9, 2020
FROM
GARY McBRIDE, Chief Executive Officer, County Administrative Office
SUBJECT
Title
2020-21 Budget for San Bernardino County Industrial Development Authority
End
RECOMMENDATION(S)
Recommendation
Acting as the governing body of the San Bernardino County Industrial Development Authority:
1. Conduct a public hearing on the San Bernardino County Industrial Development Authority 2020-21 Recommended Budget.
2. Approve and adopt the San Bernardino County Industrial Development Authority's 2020-21 Recommended Budget including appropriations as described in Attachment A, including changes to the Recommended Budget that the Board of Directors (Board) may direct, if any, and authorize adjustments based upon the final fund balance.
a. In the event that the Board makes any additions or deletions to the Budget after the public hearing; and the items were not proposed in writing and filed with the Secretary of the Board before the close of the public hearing, a 4/5 vote of the Board is required.
(Presenter: Soua Vang, Interim Economic Development Director, 387-4460)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Promote the Countywide Vision.
Create, Maintain and Grow Jobs and Economic Value in the County.
Operate in a Fiscally-Responsible and Business-Like Manner.
FINANCIAL IMPACT
The 2020-21 Recommended Budget, as presented in the Recommended Budget Book includes total requirements for the Special Revenue Fund (2748) of $60,521. There is no budgeted staffing associated with this budget.
The Recommended Budget for San Bernardino County Industrial Development Authority (CoIDA) reflects estimated use of fund balance of $59,821 and estimated interest revenue of $700. Approval of this item will not impact Discretionary General Funding (Net County Cost).
BACKGROUND INFORMATION
On March 4, 2020, the S...
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