City of Madison, Wisconsin | Legislative Information Center
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File #: 27545    Version: 1 Name: Transferring funds from Major Streets to Lien Road in order to close the Lien Road project.
Type: Resolution Status: Passed
File created: 8/29/2012 In control: BOARD OF ESTIMATES (ended 4/2017)
On agenda: 9/18/2012 Final action: 9/18/2012
Enactment date: 9/20/2012 Enactment #: RES-12-00723
Title: Transferring funds from Major Streets to Lien Road in order to close the Lien Road project.
Sponsors: Joseph R. Clausius
Fiscal Note
The Lien Road capital project (810366) currently has a deficit balance of $203,910.90, primarily due to lower than anticipated assessments.  This deficit can be funded with available funds from Major Streets (810571), specifically from the South Point project which came in under budget.  The entry to transfer the funds is as follows:
 
dr   CS53-57444-810571       $203,910.90
cr   CS53-79444-810366      ($203,910.90)
 
Title
Transferring funds from Major Streets to Lien Road in order to close the Lien Road project.
Body
WHEREAS, Lien Road from Felland Road to Zeier Road was reconstructed in multiple phases over the course of several years; and
 
WHEREAS, the final phase, the Thompson/Zeier Roundabout was constructed in 2010 and landscaped in 2011, completing the multi-year project; and
 
WHEREAS, the budget for assessment revenue was higher than was actually realized creating an ending deficit in the project of $203,910.90; and
 
WHEREAS, this deficit must be funded in order to finally close the project; and
 
WHEREAS, Major Streets (810571) has funds available to cover this deficit, specifically from the South Point project which came in under budget.
 
NOW, THEREFORE, BE IT RESOLVED that a transfer of $203,910.90 in available funds be made from Major Streets (810571) to Lien Road (810366).