Title
Amending the financing and spending plans in the Department of Public Works Capital Budget to close out 2014 projects.
Body
WHEREAS, in a continuing effort by the Department of Public Works to effectively manage capital budgets, there is a need to rectify the financing and spending within multiple 2014 projects to close these projects; and
WHEREAS, there is a need to adjust project budgets to match the financing to the spending prior to project closeout; and
WHEREAS, the Department of Public Works proposes to transfer excess Municipal State Aid (MSA) in these 2014 projects into projects as follows:
• Transfer $250,000 from the Warner Bridge Bike Trail to the 2021 Annapolis Project and $230,241 to 2021 MSA Contingency.
• Transfer $59,000 from the Payne/Maryland Intersection Project to 2021 MSA Contingency.
• Transfer $124,194 from the Western Streetscape Project to 2021 MSA Contingency.
• Transfer $75,000 from the Ford Parkway-Howell to Snelling Project to the 2019 Snelling at Summit Project and $81,628 to 2021 MSA Contingency.
• Transfer $205,032 from the Kellogg Bridge near RiverCentre Concrete Project to the 2021 Robert Street Viaduct Rehabilitation 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 funds of $1,025,095; now, 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 $1,025,095 is available for transfer of appropriation of funds in the Capital Improvement Budget, as heretofore adopted and amended by this Council, be hereby further amended in the Improvements Budget in the following particulars:
Financial Analysis
See Attachment.
CIB Recommendation
The St. Paul Long-Range Capital Improveme...
Click here for full text