Explanation
BACKGROUND: This legislation authorizes the City Auditor to allow the Division of Power and Water's (Power) capital bonds fund to reimburse the operating fund, for material costs incurred for the Whittier Peninsula Audubon Center Project. Due to the extensive lead time necessary for ordering electrical supplies, ordering materials well in advance of the project was necessary for timely project initiation.
FISCAL IMPACT: A transfer of funds within the Voted Street Lighting and Electricity Distribution Improvements Fund is necessary, as well as an amendment to the 2008 Capital Improvements Budget.
Title
To amend the 2008 Capital Improvements Budget; to authorize the City Auditor to transfer funds within the Voted Street Lighting and Electricity Distribution Improvements Fund; and to authorize the City Auditor to allow the Division of Power and Water's capital bond fund to reimburse the operating fund in the amount of $96,302.50 for material costs incurred in relation to the Whittier Peninsula and Audubon Center Project. ($96,302.50).
Body
WHEREAS, significant lead time was required for ordering and receiving electrical supplies for the Division of Power and Water's (Power) Whittier Peninsula and Audubon Center Project; and a construction contract for the project had not yet been awarded, purchase of the required materials was made from the Operating fund; and
WHEREAS, it is necessary for this Council to authorize the City Auditor to transfer funds within the Voted Street Lighting and Electricity Distribution Improvements Fund; and
WHEREAS, it is necessary to authorize an amendment to the 2008 Capital Improvements Budget for purposes of providing sufficient funding and expenditure authority for the aforementioned project reimbursement; and
WHEREAS, the aforementioned expenditure has occured, and it is necessary for this City Council to authorize the Division of Power and Water (Power) to reimburse the operations fun...
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