Title
Amending the financing and spending plans in the Department of Public Works Capital Budget to close out 2020 and 2021 projects.
Body
WHEREAS, the Department of Public Works plans to finalize and close multiple 2020 and 2021 projects; and
WHEREAS, there is a need to adjust project budgets to match the financing to the spending prior to project closeout; and
WHEREAS, there is a need to transfer $899,501 Municipal State Aid (MSA) funding from the 2020 and 2021 SPS Signals, Concord at 52 and Minnehaha at Western Projects to 2023 MSA Contingency; and
WHEREAS, there is a need to transfer $76,287 Capital Improvement Bond funding from the Rice Street, Winnipeg, Hazelwood and Arundel Lighting Projects to 2021 CIB Contingency; and
WHEREAS, the Mayor, pursuant to Section 10.07.4 of the Charter of the City of Saint Paul, does certify that $975,788 is available for transfer of appropriation of funds; now, therefore, be it
RESOLVED by the Council of the City of Saint Paul, upon recommendation of the Mayor and advice of the Capital Improvement Budget Committee, that $975,788 is available for transfer of appropriation of funds in the Capital Improvement Budgets, as heretofore adopted and amended by this Council, be hereby further amended in the Capital Improvements Budgets in the following particulars:
Financial Analysis
See Attachment.
CIB Recommendation
The St. Paul Long-Range Capital Improvement Budget Committee reviewed this request on May 13, 2024 and recommended approval.