Fiscal Note
This resolution reallocates funding among several Parks Division Capital capital projects. There is no impact upon the tax levy.
Title
Amending the 2012 Capital Budget to reallocate funding between various Parks Division Capital projects.
Body
WHEREAS, the Parks Division has identified capital projects that require budgetary adjustments; and,
WHEREAS, existing resources, including 2010 borrowing proceeds set to lapse in October 2012, are available within various Parks Division capital projects to allow for this reallocation without additional borrowing; and,
WHEREAS, the Park Landscaping (810399) and Specific Park Improvements (810405) projects did not include appropriate budget authorization to recognize other revenue collected prior to 2009; and,
WHEREAS, the Veterans Memorial Park (810630) project incurred all costs related to the pergola and path project completed in 2009, but the original budget for this project was split between this project and the Development Fee (810437) project; and,
WHEREAS, the Warner Stadium (810588) project had design work totaling $71,657 completed in 2008 that was to be funded on a 50/50 cost sharing with the Madison Mallards; and,
WHEREAS, the Madison Mallards have contributed their share of this project and the City has already contributed $25,000 towards the design work in prior budgets leaving a City obligation of $10,828.70; and,
WHEREAS, the Hiestand Park Improvements (810583), WPCRC Roof Repair (810610), and Brittingham Boathouse (810635) projects incurred costs that exceeded the original project budgets; and,
WHEREAS, the Parks Equipment (810609) project did not realize budgeted revenue estimates from the sale of equipment; and,
WHEREAS, the Odana Clubhouse (810651) project is not proceeding and has $50,000 in available resources from 2010 borrowing proceeds and the Park Paving (810403) project has realized cost savings from projects and has $7,500 in available resources from 2010 borrowing proc...
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