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Amending the financing and spending plans in the Department of Public Works in the amount of $1,725,139.98 in additional revenues, $724,192.72 for transfer of appropriations, and ($313,494.32) in reduced project budgets to cleanup, realign, and close out projects.
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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 particular projects, to transfer program dollars into specific projects, and to closeout other projects as appropriate, and
WHEREAS, the Minnehaha Avenue Reconstruction Project from Fairview to Prior was done in conjunction with the Hewitt-Tatum RSVP Project Area so the financing for the Minnehaha Project needs to be transferred into the 2012 RSVP Program, resulting in $423,000 transfer of appropriation; and
WHEREAS, funding from Ramsey County and the Signalized Intersection Safety Improvements program needs to be added to the approved Kellogg and John Ireland Geometric and Bike Lane Improvements Project, resulting in $125,000 transfer of appropriation, and $20,000 in new County Aid revenue; and
WHEREAS, financing sources need to be added to the 2008, 2011 and 2012 RSVP Programs in order to accurately reflect and match the financing to the spending in these program years, resulting in $1,573,210 in additional Sewer and Water revenue; and
WHEREAS, program income, deposits and other miscellaneous financing need to be accurately reflected within various projects, resulting in $131,929.98 in additional revenue, and $115,000 in transfer of appropriation; and
WHEREAS, there are other completed projects that need to be closed-out and any available funding identified and transferred where appropriate, resulting in $313,494.32 in reduced project budgets, and $61,192.72 in transfer of appropriations; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriation, funds of $1,725,139.98 in the Capital Improvement Budgets; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 10.07.9 of the Charter of the City of Saint Paul, does certify that there are available for appropriation, funds of $724,192.72 in the Capital Improvement Budgets, 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, the $ 724,192.72 is available for appropriation in that the Capital Improvement Budgets, as heretofore adopted and amended by this Council; be hereby further amended in the Improvement Budgets as detailed and shown on the attached Financial Analysis.
Financial Analysis
See Attachment
CIB Recommendation
The Saint Paul Long-Range Capital Improvement Budget Committee received this request on April 15, 2013 and recommended approval.