Title
Presentation providing an update on expenditures and current balances of Forfeited Asset Funds.
Body
The attached document provides the summary requested by the City Commission on the current balances of forfeited asset funds held by the City of Coral Gables as a result of criminal investigations that the Coral Gables Police Department conducts as the lead agency or in participation with other local, state or federal agencies.
The attached document also provides a listing of expenditures approved by the City Commission during this current fiscal year.
In order to properly administer and track the forfeited asset fund balances, the assets seized and forfeited as a result of the efforts of the Coral Gables Police Department are held in different City of Coral Gables revenue accounts based on whether the assets were seized as the result of an investigation conducted under state statutory authority or federal authority.