Title
Amending the financing and spending plans in the Department of Public Works Capital Budget to close out 2014 projects with 880 bond funding.
Body
WHEREAS, in a continuing effort by the Department of Public Works to effectively manage capital budgets, there is a need to rectify the financing and spending within multiple 2014 projects with 880 funding to close these projects; and
WHEREAS, there is a need to adjust project budgets to match the financing to the spending prior to project closeout; and
WHEREAS, the Department of Public Works proposes to transfer $184,456 excess 880 funding in the 2014 Payne/E7th Street Project and the 2014 Ground Rounds 880 Vitality Project to 880 Contingency; and
WHEREAS, the Mayor, pursuant to Section 10.07.4 of the Charter of the City of Saint Paul, does certify that there is available for transfer of appropriation funds of $184,456; now, 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 $184,456 is available for transfer of appropriation of funds in the Capital Improvement Budget, as heretofore adopted and amended by this Council, be hereby further amended in the Improvements Budget in the following particulars:
Financial Analysis
See Attachment.
CIB Recommendation
The St. Paul Long-Range Capital Improvement Budget Committee received this request on February 14, 2022 and recommended approval.