Explanation
BACKGROUND: The Finance and Management Department, Office of Construction Management, employs personnel that are engaged in overseeing various construction and building renovation capital projects. These personnel are budgeted within, and paid from, the General Fund. These costs can be capitalized. Doing so is consistent with earlier efforts by the Office of Construction Management to reimburse the General Fund when the General Fund incurred expenses more appropriate to capital improvement funding. Specifically, Ordinance No. 0182-2008, passed March 10, 2008, authorized $442,500.00 for these purposes. The goal of this ordinance is to amend the 2008 CIB and transfer necessary funds for capitalization of construction work until the next bond sale. The Office of Construction Management tracks the hours each employee works on individual projects and bills these hours back to the proper capital project. This process can help save the General Fund up to $400,000 per fiscal year.
Fiscal Impact: This expenditure is budgeted and available within the Construction Management Capital Improvement Fund and the Safety Voted Bond Fund. This ordinance authorizes the expenditure of $119,449.75 or so much thereof as may be necessary for this purpose. It also transfers $3,600.00 from one project in the Safety Voted Bond Fund to another.
Title
To authorize the Finance and Management Director to expend $119,449.75, or so much thereof as may be necessary, to reimburse the General Fund for construction and building renovation expenses incurred by the Office of Construction Management; to amend the 2008 CIB; to authorize the transfer of $3,600.00 within the Safety Voted Bond Fund; to authorize the transfer of $8,537.47 within the Construction Management Capital Improvement Fund; to authorize the City Auditor to cancel the balance of a previously established Auditor's Certificate established for this same purpose; and to authorize an expenditure from th...
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