Title
Amending the financing and spending budgets in the Saint Paul Regional Water Services by adding the total amount of $500,000 to fund the raw water conduit condition assessment and the McCarron’s foundation condition assessment.
Body
WHEREAS, in its 2015 budget, the Board of Water Commissioners did authorize $500,000 for a raw water conduit assessment and $200,000 for a foundation assessment; and
WHEREAS, current estimates for these projects total $500,000; and
WHEREAS, contracts were not fully executed by the end of the fiscal year 2015 and not expended or encumbered; and
WHEREAS, the amount needed in 2016 to fund these assessments is $500,000, which will be financed from fund balance; and
WHEREAS, the Board of Water Commissioners did approve to amend its 2016 budget to increase engineering services by $500,000 to $583,000 and increasing the use of cash by $500,000 to $545,590, resulting in a 2016 amended budget of $71,781,528 and did request the Saint Paul City Council to approve said amendment; now, therefore, be it
RESOLVED, that the City council of the City of Saint Paul does hereby approve said changes to the 2016 budget.
Financial Analysis
See Attachment