Title
Amending the financing and spending plans in the General Government Accounts operating budget for 2019 flood related expenses in the amount of $4 million.
Body
WHEREAS, the City of Saint Paul, during the period of March 12, 2019 through April 28, 2019, endured flood damages; and
WHEREAS, the City authorized the Office of Financial Services to apply for flood assistance funds as outlined in RES 19-1628; and
WHEREAS, flood expenses will be reimbursed by FEMA (75%) and the Minnesota Department of Public Safety (25%); and
WHEREAS, the total cost to be reimbursed is estimated at $4,000,000; and
WHEREAS, the financing and spending plans have not been established for the reimbursement; 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 appropriations funds of $4,000,000 in excess of those estimated in the 2019 budget; now therefore be it
RESOLVED, by the City Council that $4,000,000 is available for appropriation in the 2019 budget, and said budget, as heretofore adopted by Council, is hereby amended as outlines in the attached financial analysis.
Financial Analysis
See Attachment.