Fiscal Note
The Parking Utility 2013 operating budget will need to be amended to increase its authorized expenditures for Purchased Services - Consultant Services by $59,500, which will be offset by an application of Utility reserves. There is no impact on the levy.
Title
SUBSTITUTE - Authorizing the City of Madison Parking Utility to enter into a purchase of service contract for up to $59,500 with Walker Parking Consultants and amending the 2013 adopted Parking Utility operating budget to provide additional expenditure authority.
Body
WHEREAS, the City of Madison Parking Utility wishes to contract with a consultant to undertake a Financial Sustainability Study of the Parking Utility's finances; and
WHEREAS, the Utility had included in its 2012 operating budget funding of $50,000 to support the Study; and
WHEREAS, the RFP process was delayed, such that the Utility did not contract for the service in 2012, but wishes to proceed with the Study in 2013; and
WHEREAS, the 2013 Parking Utility operating budget does not include expenditure authorization for the Study because it was originally anticipated the work would be completed in 2012.
NOW THEREFORE BE IT RESOLVED that the Parking Utility City is authorized to contract with Walker Parking Consultants for consultant services for a Financial Sustainability Study in an amount not to exceed $59,500; and
NOW THEREFORE BE IT FINALLY RESOLVED that the City of Madison Parking Utility 2013 Operating Budget is amended to provide additional expenditure authority for its Purchased Services - Consultant Services expense, which will be fully offset by the application of Utility reserves, as follows:
EP01-54950-582000 $59,500 (Consulting Services)
EP01-57999-582000 ($59,500) (Reduce Reserves Generated)