Title
Amending the financing and spending budgets in the Department of Public Works by transferring $131,250 from the 2014 Pierce Butler Project into the 2011 Pierce Butler Project, transferring $2,000,000 of MSA financing from the 2015 Pierce Butler Project into MSA Contingency, and identifying a lapse of appropriation of obsolete Federal Funding in the amount of $7,000,000.
Body
WHEREAS, the Department of Public Works plans to close the 2014 Pierce Butler Acquisition Project and proposes to transfer the remaining funds of $131,250 into the 2011 Pierce Butler Project; and
WHEREAS, the Department of Public Works proposed to close the 2015 Pierce Butler Project and to transfer the available MSA balance of $2,000,000 into MSA contingency; and
WHEREAS, there is $7,000,000 of obsolete Federal Funding that needs to be identified as a lapse of appropriation; 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 $2,131,250, and
WHEREAS, the Mayor pursuant to Section 10.9 of the Charter of the City of Saint Paul, does certify that there are lapsed appropriations of $7,000,000 in the Capital Improvement Budgets; and
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 $2,131,250 is available for transfer of appropriation and $7,000,000 lapsed appropriations in the Capital Improvement Budgets, as heretofore adopted and amended by this Council, be hereby further amended in the Improvements Budgets in the following particulars:
Financial Analysis
See Attachment
CIB Recommendation
The CIB Committee received and reviewed the resolution on November 14th and moved approval.