Explanation
Transportation Division crews have performed alley rehabilitation, permanent pavement marking, traffic signal, and sign installation work citywide. The expenses incurred in connection with such work are carefully tracked. These are capital assets and their costs can and should be capitalized. This legislation authorizes reimbursing the Street Construction, Maintenance and Repair Fund, the division's operating fund, for this capital improvement work.
Funds for this reimbursement are available within the Municipal Motor Vehicle License Tax Fund and constitute an eligible expense for this Fund. This ordinance authorizes the appropriation of $500,000.00 within the Municipal Motor Vehicle License Tax Fund and subsequent reimbursement of up to this amount in eligible expenses to the Street Construction, Maintenance and Repair Fund.
Emergency action is requested to allow for prompt completion of these transactions; such timely transactions contribute to accurate and efficient accounting.
Title
To authorize the appropriation of $500,000.00 within the Municipal Motor Vehicle License Tax Fund; to authorize the Public Service Director to reimburse the Street Construction, Maintenance and Repair Fund for force account alley rehabilitation, permanent pavement marking, traffic signal, and sign installation work performed by and for the Transportation Division; to authorize the expenditure of $500,000.00 from the Municipal Motor Vehicle License Tax Fund for this purpose and to declare an emergency. ($500,000.00)
Body
WHEREAS, the Transportation Division has performed force account alley rehabilitation, permanent pavement marking, traffic signal, and sign installation work; and
WHEREAS, these are capital assets and their costs should be capitalized; and
WHEREAS, it is necessary to reimburse the Street Construction, Maintenance and Repair Fund for the cost of this work; and
WHEREAS, monies for this reimbursement are avail...
Click here for full text