Title
Amending financing and spending plans in the Capital Improvement Budget to correct multiple capital project budgets.
Body
WHEREAS, in a continuing effort by the Office of Financial Services to close out capital projects that have been completed, there is a need to correct financing and spending budgets within various projects; and
WHEREAS, there are several projects where the budgeted revenue does not match the amount that was actually collected; and
WHEREAS, the Office of Financial Services is recommending that the financial changes identified in this resolution be made in order to close out some of these capital projects; and
WHEREAS, the Mayor, pursuant to section 10.07.1 of the City Charter, does certify that there are funds of $510,656.08 in excess of those estimated in the capital improvement budgets; 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 the Capital Improvement Budgets, as heretofore adopted and amended by this Council, be hereby further amended in the Improvement Budgets, in the particulars as specified in the attached financial analysis.
Financial Analysis
See Attachment.
CIB Recommendation
The Saint Paul Long-Range Capital Improvement Budget Committee received this request on December 9, 2013 and recommended approval.