Fiscal Note
The Pheasant Branch Greenway Enhancement project is a FEMA grant project and the grant eligible work was originally funded in two projects in two different programs. A small portion (~$173K) of the project is funded with project 12568 (Stormwater Quality System Improvement program) and the remainder of the project is funded in 14370 (Citywide Flood Mitigation program). All of the federal grant revenue ($6,028,190) was budgeted in project 14370. In total, approximately $121k of the grant revenue will be earned in project 12568. This is the 70% Federal share of the anticipated total $173k spending in project 12568. The proposed resolution amends the 2024 Stormwater Utility Capital Budget to transfer $121,056.11 of federal grant budget from project 14370 to project 12568 to the to align with where it was earned. An equal amount of Storm GO will be moved from project 12568 to 14370 so the overall budget impact is net neutral.
(121,056.11) 14370-84-201
121,056.11 12568-84-201
(121,056.11) 12568-84-801
121,056.11 14370-84-801
Title
Amending the 2024 Stormwater Utility Capital Budget to transfer budget authority between projects to reflect the anticipated grant funding split for the Pheasant Branch Greenway Enhancement projects.(District 9)
Body
WHEREAS, the Pheasant Branch Greenway Enhancement project received FEMA BRIC funding to complete design and construction of a major flood mitigation project, and;
WHEREAS, funds for this project were originally broken out into the Stormwater Quality Program and the Citywide Flood Mitigation Program in the 2023 budget, and;
WHEREAS, for administrative purposes, it is desired that all funds be moved to one program for ease of accounting and administration of the FEMA BRIC grant.
NOW, THEREFORE BE IT RESOLVED that the 2024 Stormwater Utility Capital Budget is amended for a net-neutral transfer federal sources and Storm GO budget between the Pheasant Branch Greenway Enhancement projects ...
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