Explanation
1. BACKGROUND
The Department of Public Service employs personnel that are engaged in traffic sign and signal installation, permanent pavement marking application, and roadway improvement design and construction. Project costs incurred by the operating fund are salaries, overhead, overtime, materials and other direct costs. These personnel and project expenses are budgeted within and paid from the division's operating fund, the Street Construction, Maintenance and Repair Fund. These costs can be capitalized. 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 $2,300,313.00 or so much thereof as may be necessary for this purpose.
2. FISCAL IMPACT
Funding for this expenditure is available within the 2013 Streets and Highways G.O. Bond fund, No.704. The 2014 revenue estimate for the Street Construction, Maintenance and Repair Fund reflects and assumes this revenue. Capital Improvement Budget amendments and funds transfers are necessary to move monies and authority to the appropriate projects by borrowing money until the 2014 capital budget passes and subsequent bond sale proceeds are deposited.
3. EMERGENCY DESIGNATION
Emergency action is requested 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 amend the 2013 Capital Improvements Budget; To authorize and direct the City Auditor to transfer cash and appropriation within the Streets & Highways Bond Fund; To authorize the Director of Public Service to expend $2,300,3...
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