Fiscal Note
This resolution authorizes an additional $923,672 in expenditure authority in the 2008 Capital Budget and amends the 2009 and 2010 Capital Improvement Program (CIP) by adding an additional $700,000 in expenditure authority to the 2009 CIP and deleting $100,000 in expenditure authority from the 2010 CIP. These expenditures will be funded using a combination of General fund supported borrowing, Public Health of Madison and Dane County supported borrowing, Water, Sewer and Stormwater Utility resources. This resolution also authorizes a contract be executed with Accela, Inc., which is not to exceed $2.6 million and creates current budgetary authority of up to $2M for this project. Therefore, even though this resolution amends future year Capital Improvement Programs to include additional expenditure authority, all expenses in excess of $2M in this project will need to be officially authorized in subsequent Operating or Capital Budgets.
The $923,672 in additional expenses in 2008 will be partially funded with $607,672 from promissory note proceeds. This will result in an estimated increase in debt service payments of $79,000 for ten years commencing in 2009. Of this estimated increase in annual debt service, approximately $50,000 will be supported by the City’s general fund and $29,000 will be supported by Public Health of Madison and Dane County. The remaining $316,000 in additional expenditure authority in 2008 will be funded using Water, Sewer and Stormwater Utility resources.
The 2008 budgetary changes will affect the following accounts:
$403,080 CE34-58015-810558-00-0000000-00000000-00000000
$129,808 UA77-58015-810558-00-0000000-00000000-00000000
$295,592 CE34-58510-810558-00-0000000-00000000-00000000
$95,192 UA77-58510-810558-00-0000000-00000000-00000000
($382,672) CE34-79140-810558-00-0000000-00000000-00000000
($225,000) UA77-79140-810558-00-0000000-00000000-00000000
($135,000) CE34-79464-810...
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