Fiscal Note
This resolution transfers a total of $436,427.50 in unspent GO Debt proceeds and the associated spending authority from the Wingra Creek and Starkweather Creek Capital Projects to the Stormwater with Streets and Stormwater Improvements on Streets Capital Projects. GO debt borrowing authority is also being transferred amongst several projects to fill gaps in project funding in 2013 and to restore the budget authority in the Wingra Creek capital project.
The budget amendment needed is as follows:
ESTM-58270-810381 $336,430 Stormwater with Street Projects
ESTM-79461-810381 ($336,430) Stormwater with Street Projects
ESTM-58270-810753 $100,000 Stormwater Improvements on Streets
ESTM-79461-810753 ($100,000) Stormwater Improvements on Streets
ESTM-79140-810382 $350,000 Greenways
ESTM-58270-810382 ($350,000) Greenways
ESTM-79140-810388 $200,000 Shorelines
ESTM-58290-810388 ($200,000) Shorelines
ESTM-79140-810392 $75,000 Inter-Municipal Stormwater Mgmt
ESTM-58270-810392 ($75,000) Inter-Municipal Stormwater Mgmt
ESTM-58270-810268 $240,000 Wingra Creek
ESTM-79140-810268 ($240,000) Wingra Creek
ESTM-58270-810385 $250,000 Storm Box Replacement
ESTM-79140-810385 ($250,000) Storm Box Replacement
ESTM-58270-810384 $35,000 Stormwater Basins
ESTM-79140-810384 ($35,000) Stormwater Basins
ESTM-58270-810673 $100,000 Dredging
ESTM-79140-810673 ($100,000) Dredging
The entry for the cash transfers from the Wingra Creek Corridor and Starkweather Creek Watershed capital projects is as follows:
ESTM-57458-810268 $236,427.50 Wingra Creek Corridor
ESTM-57458-810394 $200,000.00 Starkweather Creek Watershed
ESTM-79461-810381 ($336,427.50) Stormwater with Streets
ESTM-79461-810753 ($100,000.00) Stormwater Improvements on Streets
Title
Amending the 2013 Stormwater Utility Capital Budget to reallocate existing budget authority to use funds borrowed in 2011 prior to their expiring while allowing for continued funding of the future phase of Wingra Creek and to provide funding for needed pond dredging, box culvert replacement and storm sewer improvements associated with street reconstruction/resurfacing projects which will be completed in 2013.
Body
WHEREAS, the Wingra Creek Corridor (810268) capital project currently has $236,427.50 of unspent GO Debt proceeds borrowed in 2011 none of which will be spent during this calendar year; and
WHEREAS, the Starkweather Creek Watershed (810394) capital project currently has $251,587.16 of unspent GO Debt proceeds borrowed in 2011 of which $200,000 will not be spent during this calendar year; and
WHEREAS, the Adopted 2013 Stormwater Utility Capital Budget currently has $1,010,220.83 of budget authority available in account 810382 (Greenway Improvements) of which $350,000.00 will not be spent during this calendar year; and
WHEREAS, the Adopted 2013 Stormwater Utility Capital Budget currently has $272,000.00 of budget authority available in account 810388 (Shorelines) of which $200,000.00 will not be spent during this calendar year; and
WHEREAS, the Adopted 2013 Stormwater Utility Capital Budget currently has $75,000 of budget authority available in account 810392 (Inter-municipal Stormwater Management) of which $75,000 will not be spent during this calendar year; and
WHEREAS, the Adopted 2013 Stormwater Utility Capital Budget currently has $62,000.00 of budget authority available in account 810385 (Storm Box Replacement) with an additional $250,000.00 needed to allow for construction of Bedford Box Replacement; and
WHEREAS, the Adopted 2013 Stormwater Utility Capital Budget currently has $75,000.00 of budget authority available in account 810384 (Stormwater Basins) with an additional $35,000.00 needed to allow for construction of the Monroe Street Pond Pilot Study; and
WHEREAS, the Adopted 2013 Stormwater Utility Capital Budget currently has $100,000.00 of budget authority available in account 810673 (Dredging) with an additional amount of $100,000 needed to allow for dredging of a mercury contaminated pond in the City's ownership; and
WHEREAS, the Adopted 2013 Stormwater Utility Capital Budget currently has $598,120.00 of budget authority available in account 810381 (Storm Sewer with Streets Projects) with an additional amount of $333,000 needed to allow for construction of the remaining projects to be constructed in 2013; and
WHEREAS, the Adopted 2013 Stormwater Utility Capital Budget currently has $100,000.00 of budget authority available in account 810753 (Stormwater Improvements on Streets) with an additional amount of $100,000 needed to allow for completion of all the projects identified for completion as the year has progressed; and
WHEREAS, the Wingra Creek Corridor project (810268) is scheduled to have additional funds added in the 2014 budget to allow for construction of the project preferred by all stakeholders, as such the funds moved from the project will be replaced with funds from 810388 (Shorelines) and 810392 (Inter-municipal Stormwater Management) so that an equivalent amount of funds may be carried over into 2014 such that the account fund is "whole" going into the 2014 budget process; and
WHEREAS, there are no immediately pending additional projects scheduled under the above accounts where funds would be redirected from; and
WHEREAS, it is the opinion of Engineering staff that these projects should not be delayed.
NOW, THEREFORE, BE IT RESOLVED, that the 2013 Stormwater Utility Capital Budget is hereby amended to transfer budget authority and available funds in the amounts of $236,427.50 from Wingra Creek Corridor (810268) and $200,000 from Starkweather Creek Watershed (810394) to; Stormwater Improvements on Streets (810753) and (Stormwater with Streets Projects (810381) in the amounts of $100,000.00 and $336,427.50 respectively;
BE IT FURTHER RESOLVED, that the 2013 Stormwater Utility Capital Budget is amended to transfer budget authority in the amounts of $350,000.00 from Greenway Improvements (810382), $200,000 from Shorelines (810388) and $75,000 from Inter-municipal Stormwater Management (810392) to Wingra Creek Corridor (810268), Dredging (810673), Stormwater Basins (810384), and Storm Box Replacement (810385) in amounts of $240,000.00, $100,000.00, $35,000.00 & $250,000.00 respectively.