Fiscal Note
The proposed resolution amends the Water Utility's adopted 2016 capital budget by transferring $887,000 of budget authority from the Pump Stations Improvements program (MUNIS 10942) to the Paterson Street Operations Center Reconsrtuction project (MUNIS 10442). The funding source for the budget authority being transferred was established from Water Utility reserves.
The Pump Stations Improvements program is established to enhance pump station functionality, well improvements, and pressure reducing valve stations. There are no planned projects for 2016 in the Pump Stations Improvments program for the remaining budget authority. That remaining unused authority is instead being requested to be used for the remaining costs anticipated in 2016 for the Paterson Street Operations Center.
MUNIS:
($887,000) 10942-86-140
$887,000 10442-86-140
Title
Amending the Water Utility's 2016 Capital Budget to transfer $887,000 from the Pump Station Improvements Program budget to the Paterson Street Operations Center Reconstruction.
Body
BACKGROUND
The Paterson Street Remodel project construction started in September 2015. This is a multi-year multi-phase project that will be completed over the years 2015-2016-2017 under two separate construction contracts. The project also includes significant costs that are outside the remodeling construction project contracts including but not limited to: construction administration fees, rental fees for temporary space, building furnishing costs, SCADA Room upgrade costs, and Utility direct costs.
The current budget authorization for the Paterson Street Remodel project for 2016 including unallocated funds from prior years is $7,856,394. Projected 2016 spending for all portions of the project as noted above equals $8,641,497 resulting in a shortfall of $785,103.
$887,000 was budgeted for Pump Station projects and no specific projects have been identified for 2016 that would require allocation of these budgeted funds and they ...
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