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Additional Required Contributions for ACAP Wind -Down 4 <br /> • The second part of up to $46,154 would be allocated toward contingent liabilities, and <br /> invoiced and paid in a later installment based on clear documentation of need. <br /> Attachment <br /> Table 1: Financial Needs of Associated Community Action Program (ACAP) <br /> CONCLUSION <br /> Staff is suggesting that Council approve the entire amount of $121,539, with the understanding <br /> that only $75,385 is being invoiced/paid at this time; and the remainder will be invoiced as need <br /> is identified. This will allow ACAP to proceed on an orderly path of close out and to pay those <br /> precise costs currently identified, and to have access to funds to meet projected needs as those <br /> needs are specifically identified and documented. <br /> Staff recommends allocation the $121,539 from the General Funds' undesignated fund balance. <br /> This would reduce the ending FY10 -11 undesignated reserve by a like amount. <br /> It is critical that these funds be allocated by the middle of May 2011 before the initial $300,000 <br /> contribution is exhausted. <br />