PRESENTER: Presenter
Karrie Cook, Budget Manager
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SUBJECT: Title
Approval of a FY 2024 Budget Amendment in the 2013 Bond Fund to support street maintenance projects scheduled to be completed prior to the end of the 2024 fiscal year.
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DEPARTMENT: Public Works
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COUNCIL DISTRICTS IMPACTED: N/A
BACKGROUND INFORMATION:
The FY 2025 Proposed Budget includes $2,000,000 in street maintenance funding provided by the 2013 Bond Fund. These funds are the accumulation of unallocated interest earnings combined with savings from other 2013 Bond projects. This amendment will allow staff to begin work on various street projects prior to the start of FY 2025 on 10/01/2024.
This amendment is specifically needed to support a road repair and enhancement project on Walnut Avenue from Landa street to Business 35. The streets and drainage team has already confirmed scheduling with one of the City’s approved road maintenance vendors to ensure that the work can be done prior to the end of the fiscal year. The City plans to utilize a portion of both the remaining FY 2024 General Fund allocation for streets maintenance as well as the previously referenced street maintenance reallocation in the 2013 Bond Fund, so long as the budget amendment is approved by City Council.
ISSUE:
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STRATEGIC PLAN REFERENCE:
☐Economic Mobility ☒Enhanced Connectivity ☐Community Identity
☐Organizational Excellence ☐Community Well-Being ☐N/A
FISCAL IMPACT:
With the approval of this budget amendment, funding will be available to support the referenced street repairs scheduled to be completed prior to the end of the FY 2024.
Recommendation
RECOMMENDATION:
Staff recommends approval of this FY 2024 amendment for the 2013 Bond Fund.