Agenda Text
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Requesting a transfer of $500,000 from the Engineering Capital Outlay Street Repairs Account to the Street Reconstruction and Resurfacing Stabilization Fund to preserve funds for needed street repairs.
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Official Text
To the Honorable City Council:
As part of the FY2020 Budget, I requested and your Honorable Council approved a supplemental appropriation in the amount of $500,000 to increase the size of the FY2020 Street Paving Contract.
Due to the COVID 19 crisis, bidding on this project has been delayed and has now been rescheduled to the winter months for a construction start in the Spring of CY21.
The FY2020 is about to expire and the $500,000 supplemental appropriation will devolve back to Unreserved Fund Balance. The purpose of the transfer is to reserve the funds in the Street Reconstruction and Resurfacing Stabilization Fund for later reappropriation back to the project later in the year.
I respectfully request a transfer of $500,000 from the Engineering, Capital Outlay, Street Repairs Account to the Street Reconstruction and Resurfacing Stabilization Fund.
My staff will be available to answer any questions you may have. Thank you for your consideration of this matter.
Respectfully Submitted,
Joseph A. Curtatone, Mayor