Title
Amending the financing and spending budgets in the Department of Public Works by adding MSA financing and CIB financing from the appropriate contingency accounts into the Signalized Intersection Safety Improvements Program.
Body
WHEREAS, the Department of Public Works proposes to align the actual financing and expenditures associated with the various projects done under the Signalized Intersection Safety Improvements Program, and
WHEREAS, some of the projects done under this program received more financing than originally budgeted, others need additional financing to cover all of the expenditures, and there was one project that was cancelled that freed up financing to be used for other projects in the program, and
WHEREAS, the need for additional financing of $25,000 will come from 2014 CIB Contingency and $20,063 will come from 2015 MSA Contingency, and
WHEREAS, the Mayor, pursuant to section 10.07.01 of the Charter of the City of Saint Paul, does certify that there are available for appropriation funds of $49,925, and
WHEREAS, the Mayor, pursuant to Section 10.07.04 of the Charter of the City of Saint Paul, does certify that there are available for transfer of appropriation funds of $332,471, so
THEREFORE BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor and advice of the Long Range Capital improvement Budget Committee, that $49,925 is available for appropriation and that $332,471 is available for transfer of appropriation in the Capital Improvement Budgets, as heretofore adopted and amended by this Council, be hereby further amended in the Improvements Budgets in the following particulars:
Financial Analysis
See Attachment
CIB Recommendation
The Saint Paul Long-Range Capital Improvement Budget Committee received this request on November 16, 2015 and recommended approval.