ITEM TITLE:
#26-22 - Amending the 2026 Budget by Appropriating $2.8M of Excess Funds Carried Forward from 2025 to the Projects Planning Reserve in the Amount of $2.8M and Re-Allocating $7,504.25 from Previously Appropriated and Approved Capital and Major Maintenance Projects
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: $2,831,043.27
Unencumbered Balance: $2,831,043.27
Funding Source: 2025 Excess Funds Carried-forward $2,823,539.02, Previously Appropriated Projects $7,504.25
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
Excess funds carried forward from the prior fiscal year include the sum of Expense Appropriations under-budget and Revenue Appropriations received over-budget. A full analysis of carryforward is attached.
This resolution reflects the established convention related to the Capital Projects Planning Reserve. Excess funds carried-forward from the prior fiscal year are placed in reserve annually until the Operating and Capital Budget process which is typically adopted by the first week of December.
Operational and Administrative Reserves are routinely scrutinized, and needs are assessed prior to the annual Projects Repurposing and Carryforward Resolution
Projects team has identified various maintenance projects to officially allocate the $550,000 placed in the Major Maintenance Reserve for “maintenance to be identified by staff” in the 2026 Adopted Budget. These are identified in Attachment A as “new pursuant to 2026 Budget”.
Further, two operational reserves were identified as below target balance and include appropriations to ensure timely repair of unforeseen issues with concrete and asphalt across the City.