Fiscal Note
This resolution corrects several budgeting issues. The first two sections combine projects for accounting and budgeting that is consistent with the 2007 Capital Budget.
The third section of this resolution transfers available funds from the Lien Road project to the Bridge and Pavement Management Projects. The Lien Road project has not progressed as planned and therefore the borrowing should be transferred to meet Federal Arbitrage spending requirements.
The remaining sections allow for the spending of revenue that has exceeded budget estimates and removes budget authority that relates to the federal/state share of major capital projects.
No additional G.O. borrowing is required.
There is also no anticipated impact upon the tax levy or cost controls.
Title
Transferring Available Funds and Budget Authority among several projects in Engineering-Major Streets and Amending the 2007 Capital Budget of Engineering-Major Streets to Match Budget Authority to Available Funds.
Body
WHEREAS several Engineering projects were grouped in the 2007 Capital Budget to simply the budgeting and accounting process and therefore now need to have the existing funds combined into the one group fund as follows:
Transfer of Available Funds:
From Curb & Ramps w Resurfacing (CS53-57444-810359) $ 471,291.40
From Concrete Pavement Repair (CS53-57444-810520) $ 131,788.51
To Pavement Management (CS53-79444-810358) ($ 603,079.91)
From Pedestrian Improvements on Arterial (CS53-57444-810361) $ 135,177.30
To Neighborhood Traffic Mgmt (CS53-79444-810360) ($ 135,177.30)
From Monroe/Regent Intersection (CS53-57444-810372) $ 59,452.50
To Major Street Projects (CS53-79444-810571) ($ 59,452.50)
From Mineral Point/Junction Road (CS53-57444-810467) $ 47,297.77
To Pleasant View/Cty M (CS53-79444-810543) ($ 47,297.77)
Creation of Budget Authority for Funds Transferred:
Pavement Manage...
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