Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2023-2024 Annual Budget and Amending the 2024-2028 Capital Improvement Program, to Provide Funds for the Recreation Center at Towne Lake Improvements (PK4397)
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
(5A: Create affordable recreational and cultural arts activities for all ages throughout the city)
(5B: Develop Parks strategy to preserve green space for future park land)
(5C: Continue to market and highlight McKinney as a unique destination for residents and visitors alike)
(5E: Develop sustainable quality of life improvements within the City of McKinney)
MEETING DATE: May 21, 2024
DEPARTMENT: Parks & Recreation
CONTACT: Amy Kinkade, Director of Parks and Recreation
RECOMMENDED CITY COUNCIL ACTION:
* Approval of the Ordinance.
ITEM SUMMARY:
* This is a budget amendment for the Recreation Center at Towne Lake Improvements project to allow for additional resources to construct the project as designed.
BACKGROUND INFORMATION:
* This project has exhausted all funds budgeted for the renovation of the Recreation Center at Towne Lake. Due to unforeseeable expenditures, additional funds are needed for the purchase of fitness equipment prior to reopening the recreation center. Some of the unexpected items are the need of storage units during the renovation, additional design fees for interior design and exterior upgrades, additional utility work and asbestos remediation.
FINANCIAL SUMMARY:
* This Ordinance amends the Fiscal Year 2023-2024 Annual Budget and the 2024-2028 Capital Improvements Program by appropriating $150,000 from the Parks Construction Fund balance to the Capital Improvement Program for the Recreation Center at Towne Lake Improvements Project (PK4397).
* With this amendment, the total project budget will increase from $6,126,054.00 to $6,276,054.00.
* Upon approval of this item, $256,235.40 will remain in project PK4397.
BOARD OR COMMISSION...
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