Share to Facebook Share to Twitter Bookmark and Share
File #: RES PH 19-91    Version: 1 Name: Budget amendment transferring 8-80 funds
Type: Resolution-Public Hearing Status: Passed
In control: City Council
Final action: 4/17/2019
Title: Amending the financing and spending plans in the Public Works Capital Budget by transferring $737,709 in 8-80 revenues to balance out various 8-80 project budgets.
Sponsors: Amy Brendmoen
Attachments: 1. RES PH 19-91 FA

Title

Amending the financing and spending plans in the Public Works Capital Budget by transferring $737,709 in 8-80 revenues to balance out various 8-80 project budgets.

 

Body

WHEREAS, the 2016 Payne/Bedford Project and the 2017 Jackson Ph I Project have excess balances; and

 

WHEREAS, the 2015 Raymond Ph II Project and the 2015 Phalen Village Project needs additional funding; and

 

WHEREAS, the 2018 Margaret Bicycle and Pedestrian Improvements Project needs additional funds due to the bid coming in higher than estimated; and

 

WHEREAS, the Department of Public Works proposes the following 8-80 funding transfers:

 

                     $102,909 from the 2016 Payne/Bedford Project into the 2015 Raymond Ph II Project

 

                     $630,000 from the 2017 Jackson Ph I Project into the 2018 Margaret Bicycle & Pedestrian Improvements Project

 

                     $4,800 from the 2017 Jackson Project Ph I into the 2015 Phalen Village Project

 

 

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 of funds of $737,709; 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 $737,709 is available for transfer of appropriation 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 St. Paul Long-Range Capital Improvement Budget Committee received this request on April 8, 2019, and recommends approval.

 

Date NameDistrictOpinionCommentAction
No records to display.