PRESENTER: Presenter
Amy Niles, River and Watershed Manager
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SUBJECT: Title
Approval of a FY 2025 Budget Amendment totaling $160,000 for the River Activities Fund to support projects in preparation for the 2025 River Season.
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DEPARTMENT: Public Works
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COUNCIL DISTRICTS IMPACTED: N/A
BACKGROUND INFORMATION:
The required fund balance for the River Activities Fund is 25%. As a result of several successful River seasons, the River Activities Fund has accumulated a projected FY 2025 ending fund balance of 33%. The excess fund balance provides staff the ability to fund projects as directed by City Council and to better prepare for the upcoming river season. Staff is proposing a FY 2025 budget amendment totaling $160,000 to fund projects such as adding fencing to the Faust Street Bridge right of way, adding additional parking spaces to Cypress Bend Park, and signage improvements in conjunction with the Last Public Exit improvements.
The resulting amendment would reduce the FY 2025 Budgeted ending fund balance to 25%.
ISSUE:
N/A
FISCAL IMPACT:
With the approval of this budget amendment, funds will be available in the FY 2025 budget for the River Activities Fund to fund the requested projects. As stated above, this fund has sufficient fund balance reserves to fund these project costs. This amendment would reduce the FY 2025 Budgeted ending fund balance to 25%.
Recommendation
RECOMMENDATION:
Staff recommends approval of this amendment.