Fiscal Note
This amendment would add $101,000 of authorization to the Parks 2006 Capital Budget for Project #1, "Assessable Trees". Funding is to be entirely derived from special assessments for the plantings. There is no impact upon General Obligation Debt borrowing. No appropriation is required, nor is there any impact upon cost controls. Revenues: CP60-79445-810533. Expenses: CP60-55620-810533 and CP60-56610-810533.
Title
To amend the Parks Division 2006 Capital Budget, Project #1 Assessable Tree Plantings to capture total costs for the plantings.
Body
The Parks Division, in conjunction with the Comptroller's Department, has performed a cost analysis of the Assessable Tree Capital Project program. The results of that analysis indicate several charges were omitted from previous years' calculation of costs. The essential factors missing are: vehicle use, current labor costs and supplier's increase in unit cost of trees. In 2005, the cost to a property owner for planting a tree was $156. The recalculation costs, per unit for 2006, increased by $15 to a total of $171.
In order to complete requests on file for plantings in 2006, an additional $101,000 is required. This $101,000.00 is in addition to the $172,000 approved in the 2006 Capital Budget. Property owners will be assessed the total cost of planting a tree. There is zero financial impact to the City.
NOW, THEREFORE, BE IT RESOLVED, That the 2006 Capital Budget shall be amended to increase the amount authorized for the Assessable Tree Plantings, Project #1, by $101,000 from $172,000 to $273,000 to reflect the increase in costs for tree plantings in 2006; and
BE IT FURTHER RESOLVED, That the Assessable Tree Plantings, Project #1, shall be funded by billing the total costs back to the property owner's who benefit from the tree plantings; and
BE IT FINALLY RESOLVED, That the Madison Common Council amend the 2006 Capital budget for Project No. 16 in the Parks Division budget to read:
$273,000 in special assessment funding. This project funds the assessable tree planting program along new city streets. Abutting property owners are assessed for total planting costs.