Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2014 Annual Budget and Amending the 2014 - 2018 Capital Improvements Program, to Provide Funds for the Gabe Nesbitt Park Infrastructure Improvements
Summary
MEETING DATE: December 17, 2013
DEPARTMENT: Development Services/Engineering
CONTACT: Gary Graham, PE, PTOE, Transportation Engineering Manager
RECOMMENDED CITY COUNCIL ACTION:
· Approval of Ordinance
ITEM SUMMARY:
· This Ordinance amends the FY14 annual budget and the 2014 - 2018 CIP budget by transferring the following amounts to a new CIP project named Gabe Nesbitt Park Infrastructure Improvements (CO4271).
o $250,000 from the Utility Construction Fund;
o $530,000 from the Street Construction Fund;
o $330,000 from the Storm Water Construction Fund; and
o $645,000 from the Parkland Dedication Zone 3.
· In addition $85,000 from the Reforestation Funds in the General Fund will be used on the project.
· The total amount project is $1,840,000.
BACKGROUND INFORMATION:
· In order to prepare Gabe Nesbitt Park for future development
· This Ordinance creates a new CIP project and provides the funds needed for the completion of the project.
FINANCIAL SUMMARY:
· The attached financial summary details the transfer of funds from the other funding sources into a new CIP project called Gabe Nesbitt Park Infrastructure Improvements (CO4271).
BOARD OR COMMISSION RECOMMENDATION:
· N/A