Explanation
1. BACKGROUND
This ordinance authorizes amendments to the Department of Public Service’s 2025 Capital Improvement Budget (CIB) and transfers of cash and appropriation within the Streets and Highways Bond Fund.
Several of the amendments contained in this legislation are necessary to reconcile the Capital Improvement Budget with available cash balances following the completion and cancellation of prior encumbrances. These adjustments ensure that project budgets accurately reflect the cash available within each project.
Additional amendments and transfers are necessary to realign funding between projects to support current project needs and restore funding that had previously been temporarily moved to advance projects prior to the receipt of 2025 bond sale proceeds.
These amendments are primarily administrative in nature and do not represent changes to project scope or program priorities but instead ensure that project budgets accurately reflect available cash balances and current funding needs.
2. FISCAL IMPACT
This ordinance authorizes the transfer of cash and appropriation within the Streets and Highways Bond Fund, Fund 7704, and amends the 2025 Capital Improvement Budget to align project budgets with available cash and current funding needs.
There are no new expenditures associated with this legislation.
3. EMERGENCY DESIGNATION
Emergency action is requested to allow these amendments and transfers to be posted to the City's Capital Improvement Budget and accounting system as soon as possible to ensure accurate accounting of available budget authority and cash.
Title
To amend the 2025 Capital Improvement Budget; to authorize the transfer of cash and appropriation within the Streets and Highways Bond Fund; to align project budgets with available cash balances and current project funding needs; and to declare an emergency. ($0.00)
Body
WHEREAS, it is necessary to amend the 2025 Capital Improvements Budget to align project budgets with avai...
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