Title
Amending the financing and spending plans in the 2022 Capital Maintenance Budget in the amount of $300,000 to reflect cancelled HRA Transfer.
Body
WHEREAS, the 2022 - 2023 Adopted Capital Maintenance budget included a transfer of $600,000 from the HRA fund, which was contingent upon actual fund balance, which was lower than anticipated, and the transfer was not made.
WHEREAS, the Saint Paul Long-Range Capital Improvement Budget Committee received the capital maintenance funding recommendations on December 13, 2021 and approved them on January 10, 2022 (RES 22-387), the committee did not award the contingent HRA transfer funds, leaving them in the 2022 contingency account until transfer feasibility could be determined ; and
WHEREAS, AO 23-42 replaced $300,000 of funding: “the Office of Financial Services budgeted a $300,000 bond premium to be used for capital maintenance projects in lieu of a contingent $600,000 HRA transfer that was not processed”; and
WHEREAS, the Mayor, pursuant to Administrative Code 57.09 (3) a & b, and Section 10.07.4 of the Charter of the City of Saint Paul, does certify does certify there are available for transfer appropriation funds of $300,000 in the Capital Fund; and
THEREFORE BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor, as heretofore adopted and amended by this Council, be hereby further amended in the particulars as specified in the attached financial analysis.
Financial Analysis
See Attachment.
CIB Recommendation
The St. Paul Long-Range Capital Improvement Budget Committee reviewed this request on October 13, 2025 and recommended approval.
RES 22-387: <https://stpaul.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=5521011&GUID=01641C1F-607B-4ED6-ADF6-BE2BE0CFF05C>
AO 23-42: <https://stpaul.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=6121313&GUID=1E2D7C01-57E2-4BB1-801E-96F59860A01B>