Title
Amending the 2023 Saint Paul Regional Water Services spending budget to record the cost-neutral change in spending for the cost of issuance, principal and interest due on PFA note DW08.
Body
WHEREAS, the 2023 adopted budget included $8,632,300 for principal, interest and cost of debt issuance for the McCarron’s Treatment Plant project; and
WHEREAS, the amount was budgeted in a placeholder accounting unit “6906920XX NP 20XX Future Debt Proceeds”; and
WHEREAS, PFA note DW08 for $25,000,000 was signed and closed on August 22, 2023. New accounting unit 690972023N was created for the debt service on the note; and
WHEREAS, the administrative order will result in no increase or decrease to spending, it will transfer the budget to the correct accounting unit; therefore via
ADMINISTRATIVE ORDER, consistent with the authority granted to the Mayor in Section 10.07.4 of the City Charter, and on the request of the Board of Water Commissioners to amend the 2023 budget in the spending budget of the Water Utility Fund, the Office of Financial Services is authorized to amend said budget in the manner as specified in the attached financial analysis.
Financial Analysis
See Attachment.