ITEM TITLE:
#26-39 - Amending the 2026 City Budget by Accepting $392,926 in Unbudgeted Revenue from the State of Alaska Department of Education for Completed Water Piping Replacement Projects and Appropriating the Same to Project Planning Reserve Account for Future Projects
SUBMITTED BY: Nathan Duval, City Manager
FISCAL NOTES:
Expenditure Required: $392,926
Unencumbered Balance: $392,926
Funding Source: State of Alaska Department of Education & Early Development (DEED) Reimbursement Grant Funding
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
The project in question had final completion in 2023, and was put on the major maintenance list with the State for reimbursement.
The City already received an initial reimbursement, and this is the final payment from DEED for the project following completion and submission of the required closeout paperwork.