HomeMy WebLinkAbout05/04/2011 5G DATE SUBMITTED
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
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SUBJECT: Amendment of 2011 Budget, Study Session Date 04/27/11
Funds 101, 481, and 131 (new) as it pertains COUNCIL MEETING Date 05/04/11
to Lower Wheaton Way Reconstruction Department. PW &U/Fmance
Presenter: Becky Hasart
Phone. 473 -5722
SUMMARY: The City has been awarded a Transportation Improvement Board (TIB) grant for
$1,368,084 to reconstruct Lower Wheaton Way from Lebo Boulevard to the Manette Bridge. The
grant award requires a local match of $342,051. In order to properly track project costs and timelmes,
it is recommended that a special project fund, Fund 131 Lower Wheaton Way Reconstruction, be
created. Currently, the 2011 Arterial Street Budget (Fund 101) had the grant budgeted at $1,128,825
with a match budgeted at $176,175 Making adjustments within the budget, the Arterial Street Fund
can provide $237,271 toward the match for the actual budget award, with the remaining match,
$104,780, coming from Fund 481 — Stormwater It is recommended that both the Arterial Street Fund
and the Stormwater Utility Fund (101 and 481 respectively) be amended to accommodate this grant
and transfer the appropriate amounts to the new special projects fund 131 — Lower Wheaton Way
Reconstruction
ATTACHMENTS: 1 Updated Budget spreadsheets for Fund 101 (Arterial Streets), Fund 481
(Stormwater Utility), and new Fund 131 (Lower Wheaton Way Reconstruction).
FISCAL IMPACTS (Include Budgeted Amount): According to the cost estimates for this project,
30.633% of the protect is Stormwater related As such, it is recommended that 30 633% of the match,
or $104,780, be transferred from the Stormwater Utility Fund (48 1) to a newly created special project
fund 131 and the remaining match of $237,271 be transferred from Arterial Streets (101) Both funds
481 and 101 need to be amended accordingly, along with removing the TIB grant budget from 101 to
the new special project fund 131 A new fund 131 would be created and budgeted to the total protect
cost of $1,710,135
APPROVALS:
DEPARTMENT DIRECTOR `
CITY ATTORNEY-
FINANCE DIRECTOR:
MAYOR
•1 P v�, Co +nse+n - � A- J e a
Cou,,nc ; de
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RECOMMENDED MOTION: Move to amen the 2 Budget to transfer the appropriate balances
from funds 101 and 481, and create fund 131 Lower Wheaton Way Reconstruction with a budget of
$1,710,135 as presented.
COUNCIL ACTION: Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action