Title
Amending the 2020 Saint Paul Regional Water Services Adopted Budget resulting in an increase of spending and financing in the amount of $11,160,000 for the demolition of the highland reservoir, hydraulic model calibrations, repairs to the McCarron’s facility, and for updated estimates for the McCarron’s Treatment Plant Improvement Project.
Body
WHEREAS, Resolution 20-728 approved Amendment No.1 to the 2020 Adopted Budget which transferred spending of $1,500,000 from capital to settlements for a net change of zero dollars; and
WHEREAS, in its 2019 budget, the Board of Water Commissioners did authorize spending for the plans, specifications and demolition of the highland reservoir, hydraulic model calibrations, and repairs to the McCarron’s facility for a total of $1,160,000; and
WHEREAS, contracts for these services were not fully executed by the end of the fiscal year 2019 and not expended or encumbered; and
WHEREAS, the 2020 Adopted Budget included financing and spending amounts for the McCarron’s Treatment Plant Improvement Project in the amount of $10,000,000, and an additional $10,000,000 is required to fully fund the design work for the project; and
WHEREAS, the total amount needed in 2020 is an increase in spending of $1,160,000 which will be financed from use of fund balance and an increase of $10,000,000 which will be funded by additional debt issuance; and
WHEREAS, the Board of Water Commissioners recommended approval of the amendment to the 2020 Adopted Budget at the Water Board Meeting on July 14, 2020; therefore, be it
RESOLVED, that the City Council of the City of SaintPaul, upon recommendation of the Mayor does hereby recommend amendment to its 2020 Adopted Budget, resulting in an increase of spending and financing in the amount of $11,160,000, resulting in an amended 2020 Budget of $91,763,659, the details of such are attached, and does recommend approval by the Saint Paul City Council.
Financial Analysis
See Attachment