Title
Amending the financing and spending plans in the Department of Public Works Capital Budget to close out 2017 projects.
Body
WHEREAS, the Department of Public Works plans to finalize and close multiple 2017 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 $248,235 in Capital Improvement Bonds (CIB) from the 2017 35 E Bike Trail Project and the 2017 Downtown Tree Project to CIB Contingency; 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 $248,235; 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 $248,235 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:
CIB Recommendation
The St. Paul Long-Range Capital Improvement Budget Committee received this request on November 14, 2022 and recommended approval.
Financial Analysis
See Attachment.