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CETA approves supplemental budget reallocating Glenwood rental revenue to city
Summary
At its meeting, the Springfield Economic Development Agency (CETA) unanimously adopted a supplemental budget (Fiscal Year 25, Supplemental Budget No. 2) transferring rental receipts from Glenwood properties to the city. The action passed by roll call after a public hearing with no public comment.
The Springfield Economic Development Agency unanimously adopted Fiscal Year 25 Supplemental Budget No. 2 on a roll-call vote after a brief public hearing.
Jessica Mummy, the city's budget and procurement manager, told the CETA board the supplemental budget “adjusts resources and requirements in the CETA Glenwood General Fund,” and transfers rental revenue from two Brooklyn Street properties (the Carvature Building and a formerly single-family house) that the city purchased but from which CETA had been receiving rents.
The board opened and then closed the public hearing after no one spoke. A motion to adopt the resolution was made and seconded; the board then voted by roll call. The recorded votes were Board member Dan Gordon: yes; Board member Weber: yes; Board member Moe: yes; Vice Chair Rodley: yes; Board member Blackwell: yes; Chair Doyle: yes; Board member Stout: yes; Board member Lovell: yes. The motion passed unanimously.
The supplemental budget transaction moves rental receipts from CETA to the city’s accounts; Jessica Mummy said the change aligns the recorded revenues with the city’s ownership of the properties and is processed through the finance department’s supplemental budget procedure. No additional details about dollar amounts for the transferred rental receipts were provided at the meeting.
Board members did not request further public comment or debate on the supplemental budget during the meeting. The board then moved on to other agenda items.
