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Amending the 2025 Saint Paul Regional Water Services spending budget to record the cost-neutral change in spending for the cost of issuance, principal and interest due on PFA note DW10.
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WHEREAS, the 2025 adopted budget included $3,798,286 for principal, interest and cost of debt issuance for the McCarron’s Treatment Plant project; and
WHEREAS, the amount was budgeted in a placeholder accounting unit “6906920XX- NP 20XX Future Debt Proceeds”; and
WHEREAS, PFA note DW10 for $28,000,000 is scheduled to close by December 2025. New accounting unit 690972025N was created for the debt service on the note; and
WHEREAS, the administrative order will result in no increase or decrease to spending, it will transfer the budget to the correct accounting unit; therefore via
ADMINISTRATIVE ORDER, consistent with the authority granted to the Mayor in Section 10.07.4 of the City Charter, and on the request of the Board of Water Commissioners to amend the 2024 budget in the spending budget of the Water Utility Fund, the Office of Financial Services is authorized to amend said budget in the manner as specified in the attached financial analysis.