Explanation
1. BACKGROUND
The Department of Public Service employs personnel that are engaged in traffic sign and signal installation, permanent pavement marking application, engineering, roadway improvement and design and construction. Project costs incurred by the operating fund are salaries, overhead, overtime, materials and other direct costs. The division budgets the personnel and additional costs within and paid from the division’s operating fund, the Street Construction, Maintenance and Repair Fund. These costs are capital eligible and doing so is consistent with earlier efforts by the division to reimburse its operating fund when the operating fund incurred expenses more appropriate to capital improvement funding.
This ordinance authorizes and directs the City Auditor to transfer funds to properly align appropriations with projected expenditures and allow the Department of Public Service to operate without interruption.
This ordinance authorizes the expenditure of $2,103,460 or so much thereof as may be necessary for this purpose.
2. FISCAL IMPACT
Funding for this expenditure is budgeted and available within the Streets and Highways G.O. Bond Fund, no. 704, the Build America Bonds Fund, no. 746 and the Street and Highway Improvements Funds, no. 766. The 2015 revenue estimate for the Street Construction, Maintenance and Repair Fund reflects and assumes this revenue. The funds transfers are necessary to move monies to the appropriate projects.
3. EMERGENCY DESIGNATION
The division requests emergency action designation to allow the reimbursement of these operating expenses at the earliest possible time to provide adequate operating resources for the Street Construction, Maintenance and Repair Fund.
Title
To authorize and direct the City Auditor to transfer cash and appropriation within the Streets & Highway Bond Fund, the Street and Highway Improvements Fund and the Build America Bonds Fund; To authorize the Director of Public Service to exp...
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