Fiscal Note
This resolution restores past budgetary authority of $1,986,500 that was not reauthorized for the Engineering Service Building Expansion project, and also adds $430,100 of new funding to the $883,400 currently available in the 2015 Adopted Capital Budget. Following the adoption of this resolution, there will be $3,300,000 ($1,986,500 of restored reauthorization, $883,400 from the 2015 budget, and $430,100 of new funding) of authority allocated 60% Sewer, 30% Stormwater and 10% Landfill, plus $425,000 from other funds, for a gross project total of $3,725,000.
The $3,300,000 of agency specific authority is therefore comprised of available and amended components. The available component consists of $883,400 from the following 2015 Adopted Budget authorizations: Sewer Utility $66,200 (Revenue Bonds); Stormwater $806,100 ($773,000 G.O., plus $33,100 Reserves); and Engineering Other / Landfill $11,100 (Landfill Remediation Fees). The amended component is comprised of $2,416,600 to restore expired, unused budgetary authority from prior years that was not reauthorized ($1,986,500) and to add new funding ($430,100). The amendment will derive this funding from the following sources: Revenue Bonds, $1,913,800; G.O. debt, $183,900; and Landfill Remediation Fees, $318,900.
Finally, in addition to the $3,300,000 described above, $425,000 will be available from the Energy Efficiency Fund ($125,000) and the Renewable Energy Fund ($300,000). This will complete the $3,725,000 in total funding needed for the project.
The budget amendment (for restored reauthorization of $1,986,500, plus new funding of $430,100) is as follows:
$1,913,800 10308-83-140 Building
($1,913,800) 10308-83-808 Revenue Bonds
$183,900 10308-84-140 Building
($183,900) 10308-84-801 GO Bonds
$318,900 10308-404-140 Building
($318,900) 10308-404-302 Landfill Remediation Fees
Title
Amending...
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