Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2015 Annual Budget and Amending the 2015-2019 Capital Improvements Program, to Provide Additional Funding for the Kings Lake Bank Stabilization Project (DR1205)
Summary
COUNCIL GOAL: Direction for Strategic Growth
MEETING DATE: March 17, 2015
DEPARTMENT: Development Services/Engineering
CONTACT: Lissa M. Shepard, P.E., CFM, Civil Engineer
RECOMMENDED CITY COUNCIL ACTION:
· Approval of Ordinance
ITEM SUMMARY:
· This ordinance amends the FY2014-2015 annual budget and the 2015-2019 CIP by appropriating $30,000 of fund balance from the Storm Water Construction Fund to provide additional funding for CIP project DR1205 Kings Lake Bank Stabilization Project
· The additional funding is necessary to provide for geotechnical and materials testing services (in the amount of $19,830) during construction and other contingencies associated with the project.
· The revised project amount will be $430,000.
BACKGROUND INFORMATION:
· On January 20, 2015, a construction contract was awarded to Western Contractors to construct a retaining wall behind 604 Kings Lake Drive for $317,000 including all necessary change orders.
· Geotechnical Engineering Services and materials testing is required to ensure that the wall is properly constructed according to the specifications.
FINANCIAL SUMMARY:
· This ordinance amends the FY2014-2015 annual budget and the 2015-2019 CIP by appropriating $30,000 of fund balance from the Storm Water Construction Fund to provide additional funding for CIP project DR1205 Kings Lake Bank Stabilization Project.
· The amount in project DR1205 will be $430,000.
BOARD OR COMMISSION RECOMMENDATION:
· N/A