Explanation
The Transportation Division recently completed a project consisting of the resurfacing of Schrock Road from 161 feet east of Ambleside Drive to Cleveland Avenue.
The City had previously legislated funding prior to the commencement of the project based on the estimated construction costs. After the project was completed the actual project cost was higher than the estimate and therefore it is necessary to provide additional funding to this project. To accomplish this it is necessary to transfer funds into this grant to balance and close the grant. This legislation authorizes the transfer of funds from fund 766 to fund 765 for the Transportation Division.
Fiscal Impact: Additional matching funds are required in the amount of $24,581.69 due to the actual project cost exceeding the cost estimate prior to construction. Funds are available in the Street and Highway Improvement Fund to transfer into the Schrock Road Grant in Fund 765. This ordinance transfers this money to the Federal State Highway Engineering Fund and authorizes the expenditure within fund 765.
Emergency action is requested to follow appropriate accounting procedures and provide for the expeditious close-out of this Schrock Road Grant.
Title
To appropriate $24,581.69 within the Streets and Highway Improvement Fund; to authorize the City Auditor to transfer $24,581.69 from the Streets and Highway Improvement Fund to the Federal State Highway Engineering Fund and to appropriate those funds; to authorize the expenditure of these funds for the closeout of the Schrock Road Resurfacing project; and to declare an emergency. ($24,581.69)
Body
WHEREAS, the Schrock Road Resurfacing (FRA-710-1.87) project was recently completed; and
WHEREAS, upon completion of the project the actual construction cost exceeded that of the estimate prepared prior to the construction; and
WHEREAS, it is now necessary to transfer funds into this grant in order to provide addition...
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