Fiscal Note
The proposed resolution authorizes transferring $940,000 of existing appropriation across projects within the Stormwater & Major Streets capital budgets. The transfer is necessary based on anticipated project costs for the strormwater components of Reconstruct Streets ($50k) and Pavement Management ($740k) along with the Darbo Webb project ($50k).
These increases will be offset by decreasing the budget for Strarkweather Coagulant Treatment ($740k) and Storm Sewer System Improvements ($200k).
See below for the increases and reductions by funding source:
|
Project |
Funding Source |
Change |
|
Starkweather Coagulant |
GO Borrowing |
-$540k |
|
Starkweather Coagulant |
Reserves |
-$200k |
|
Storm Sewer Improvements |
GO Borrowing |
-$200k |
|
Reconstruct Streets |
GO Borrowing |
$50k |
|
Pavement Management |
GO Borrowing |
$540k |
|
Pavement Management |
Reserves |
$100k |
|
Darbo Webb |
GO Borrowing |
$50k |
|
Net Impact |
$0 |
Title
SUBSTITUTE Amending the 2018 Stormwater Utility Capital Budget to transfer $600,000 $740,000 in existing budget authority from the Starkweather Creek Coagulant Treatment project and $200,000 from the Storm Sewer System Improvements project to the Pavement Management, Reconstruction Streets, and Darbo/Webb Street Reconstruction projects to provide adequate funding for those projects to continue to bid and construction.
Body
WHEREAS, the Adopted 2018 Stormwater Utility Capital Budget has $300,000.00 of Stormwater Reserves and $740,000 of Stormwater GO borrowing budget authority available in account 10368 (Starkweather Creek Coagulant Treatment); and
WHEREAS, it is not clear that this project will proceed to land acquisition stage this year; and
WHEREAS, there are three (3) street reconstruction projects that are currently ready to be bid and constructed in 2018 that have a shortfall of funds for storm sewer construction; and
WHEREAS, at the time of 2018 budgeting, it was intended to use of a portion of the funds in the Storm Sewer System Improvements (project 11813) to fund storm specific issues; and
WHEREAS, we have street reconstruction projects in Pavement Management (project 11789) that are largely storm sewer driven; and
WHEREAS, the streets reconstruction projects require Stormwater Utility funding for costs associated with storm sewer that were underestimated in the initial budget estimate;
NOW, THEREFORE, BE IT RESOLVED, that the 2018 Stormwater Utility Capital Budget and Engineering Major Streets Capital Budget are hereby amended to transfer $800,000 $940,000 existing budget authority between major projects as described in the fiscal note.