Explanation
1. BACKGROUND
This ordinance authorizes the City Auditor to return unused funds associated with G591314 Joyce Avenue Phase 2 CCY05 project back to the Department of Public Service project P590955-100000 Operation Sidewalks.
Ordinance 0697-2014 authorized the Director of Public Service to enter into contract with Shelly and Sands, Inc. for the construction of the Operation Safewalks - Joyce Avenue Phase 2 project and to provide for construction administration and inspection services utilizing funds from the Department of Public Service and grant funds from the Ohio Public Works Commission.
This ordinance allows for the transfer of unused funds from grant number G591314 Joyce Avenue Phase 2 CCY05 to P590955-100000 Operation Sidewalks in order to complete final accounting and close the grant out. Design and right-of-way costs were paid for entirely with DPS funding but were eligible for reimbursement. Reimbursements were requested and received for both design and right-of-way leaving a positive cash balance in the grant. Additionally, the estimated city share was lower than expected due to project underruns resulting in too much DPS funding being transferred into the grant at the time the project was legislated.
This project has been completed. Final accounting reconciliation determined the cash remaining in the grant is to be distributed back to the Department of Public Service in the amount of $323,394.69.
2. FISCAL IMPACT
Funds in the amount of $323,394.69 are available for transfer from Fund 7763, the OPWC Grants and Loans Fund in G591314 (Joyce Avenue Phase 2 CCY05) to Fund 7704, the Streets and Highways Bond Fund, P590955-100000 Operation Sidewalks. Funds need to be appropriated.
Title
To authorize the City Auditor to appropriate funds within the OPWC Grants & Loans Fund and Streets and Highways Bond Fund; to authorize the City Auditor to transfer funds between the OPWC Grants and Loans Fund and Streets and Highways Bonds Fund in conne...
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