Title
Amending the 2024 spending budget in the Department of Public Works Traffic Warehouse accounting unit to account for additional Capital Projects, Local Option Sales Tax work, signage for Rondo neighborhood renaming expenditures, and wire theft replacement in the accumulative amount of $2,610,000.
Body
WHEREAS, the Public Works Traffic Operations division is undertaking additional capital projects, projects associated with the Local Option Sales Tax and wire theft replacement requirements where there are anticipated needs for materials and supplies with longer lead times are beyond the adopted budget; and
WHEREAS, there is an ongoing problem of city-owned street light poles being vandalized and emptied of their essential copper wire, rendering lighting infrastructure inoperable and non-functioning, and
WHEREAS, due to lead-time of cable replacement and other materials, and per procurement guidelines, the funds need to be encumbered now to be earmarked exclusively for this purchase fulfillment; and
WHEREAS, the cost of these materials and associated installation labor will be financed via reimbursement from the revenue received for completion of capital projects, Local Option Sales Tax and General Fund revenues; now
WHEREAS, the Mayor, pursuant to section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriation funds of $2,610,000 in excess of those estimated in the 2024 Traffic Warehouse budget; now
THEREFORE BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor that $2,610,000 is available for appropriation in the 2024 Public Works Traffic Warehouse 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.