Explanation
Background: The Public Service Department, Transportation Division, routinely installs and/or constructs traffic signs and signals, school flashers and permanent pavement markings that have useful lives that meet or exceed five (5) years. As such, the labor, materials and equipment usage expenses incurred in their installation/construction can be capitalized. These expenses are initially paid from the division's operating fund, the Street Construction, Maintenance and Repair Fund. This ordinance reimburses these expenses from the division's capital improvements fund, the 1995, 1999 Voted Streets and Highways Fund, to the Street Construction, Maintenance and Repair Fund for work performed in 2004 as follows:
Billable Asset / Amount / Period Being Billed
Traffic signs / $460,000.00 / July 1-December 31, 2004
Traffic signals / $385,000.00 / October 1-December 31, 2004
School flashers / $124,717.60 / November 1-December 31, 2004
Permanent pavement markings / $155,368.95 / November 1-December 31, 2004
Total $1,125,086.55
The division received authorization to reimburse similar costs for the first part of 2004 through Ordinance 1795-2004 that was passed by City Council on November 8, 2004.
Fiscal Impact: The Transportation Division budgeted $3.2 million in the 2004 Capital Improvements Budget (CIB) for Traffic Street Signs, Traffic Signals Installation and Permanent Pavement Markings. Approximately half of these funds have been legislated thus far with another $1.6 million remaining balance. Therefore, funding is available within budgeted projects in the 1995, 1999 Voted Streets and Highways Fund to provide this reimbursement within the Transportation Division.
Emergency action is requested to allow for this reimbursement to take place in a timely manner in the interest of accurate accounting.
Title
To authorize the Public Service Director to reimburse the Street Construction, Maintenance and Repair Fund $1,125,086.55 f...
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