Title
Amending the 2022 Capital Improvement Budget to allocate funding for capital maintenance projects and contingency, as recommended by the Capital Improvement Budget Committee.
Body
WHEREAS, the Saint Paul Long-Range Capital Improvement Budget Committee received the capital maintenance funding recommendations on December 13, 2021 and approved them on January 10, 2022; and
WHEREAS, the Office of Financial Services budgeted a $300,000 bond premium to be used for capital maintenance projects in lieu of a contingent $600,000 HRA transfer that was not processed; and
WHEREAS, Office of Financial Services staff request to amend the 2022 Capital Improvement Budget in the manner as specified in the financial analysis; and
WHEREAS, the Mayor, pursuant to sections 57.09 and 10.07.4 of the City Administrative Code, does certify there are available for transfer appropriation funds of $300,000 in the Capital Fund; and now therefore, be it
RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor that $300,000 is available for transfer of appropriation in the Capital Fund, as heretofore adopted and amended by this Council, be hereby further amended in the particulars as specified in the attached financial analysis.
Financial Analysis
See attachment.