Title
Pertaining to a 2014 budget amendment to record the encumbrance of funds for professional service agreements that are to be carried forward into the 2014 fiscal year and to reclassify water meter repair parts from a capital expense to an operational expense.
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WHEREAS, in its 2014 budget, the Board of Water Commissioners did authorize $580,000 for professional services and $160,000 in meter operations capital funded from water sales and services; and
WHEREAS, several fully executed professional service agreements require a formal budget adoption to encumber funds and to allocate funds for these agreements that were not required in the legacy financial management system; and
WHEREAS, the amount needed to fund these professional service agreements is $614,983 and is to be paid for from cash reserves; and
WHEREAS, services and payments will occur in 2014 or later; now, therefore, be it
RESOLVED, that the Board of Water Commissioners does hereby amend its 2014 budget increasing the professional services by $614,983 to $1,194,983, and decreasing the meter operations funded capital project by $130,000 to $30,000, and increasing the meter supplies and parts by $130,000 to $137,000, and does recommend Saint Paul City Council approval of said amendments.