Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2016-2017 Annual Budget and Amending the 2017 - 2021 Capital Improvements Program to Provide Funds for the Airport Master Plan Update Project #AI1648
Summary
COUNCIL GOAL: Maximize the Development Potential of the McKinney National Airport
MEETING DATE: October 18, 2016
DEPARTMENT: Airport
CONTACT: Ken Wiegand, Airport Director
RECOMMENDED CITY COUNCIL ACTION:
Approve ordinance
ITEM SUMMARY:
• Capital Improvements Program (CIP) Project AI1648 (Master Plan Update) requires additional funding to meet the City’s 10-percent share of the project’s total negotiated cost.
BACKGROUND INFORMATION:
• Council approved the Airport Master Plan Update (MPU), which is scheduled to begin in early November 2016.
• TxDOT negotiated a contract for slightly more than the budgeted cost to conduct the MPU, which requires an increased City share.
FINANCIAL SUMMARY:
• Increase the City’s shared cost for Project #AI1648 by $700 to cover the $682 as shown in the table below.
|
Project Cost |
Shares |
|
|
90% Federal |
10% Local |
|
Budget Estimate |
333,333 |
33,333 |
|
Final Negotiated |
340,150 |
34,015 |
|
Difference Over Budget |
6,817 |
682 |
• The budget will be amended by transferring $700 from the Airport Operating Fund balance to the Airport Construction Fund and appropriating it to CIP Project #AI1648, Airport Master Plan Update.
BOARD OR COMMISSION RECOMMENDATION: N/A