Title
Amending the financing and spending plans in the Department of Public Works in the amount of $132,825 in additional revenues; $207,333 for transfer of appropriations; and $4,415,417.65 in reduced project budgets to clean up, realign, and close out projects.
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 particular projects, to transfer program dollars into specific projects, and to closeout other projects as appropriate; and
WHEREAS, on the Montreal Reconstruction project the assessment roll has identified an additional $132,825.00 (including Real Estate Fees) in financing; and
WHEREAS, there are other completed projects that need to be closed-out and any available funding identified and transferred where appropriate, resulting in $4,415,417.65 in reduced project budgets, and $211,306.95 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 $132,825.00 in the Capital Improvement Budgets; and
WHEREAS, the Mayor, pursuant to Section 10.07.4 of the Charter of the City of Saint Paul, does certify that there are available for appropriation, funds of $207,333.00 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, 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 St. Paul Long-Range Capital Improvement Budget Committee received this request on August 12, 2013 and recommended approval.