ITEM TITLE:
#17-
Resolution No. 17-29 - Amending the 2017 City budget by transferring $131,987 from project planning reserve to master planning reserve to fund the council-approved contract with kimley horn and associates
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: $131,987
Unencumbered Balance: $2,408,000
Funding Source: Project Planning Reserve, 350.0319.58000.
RECOMMENDATION:
approve
SUMMARY STATEMENT:
This resolution funds the shortfall between the Kimley Horn contract amount of $950,000, approved on July 5th, and the funds available in the “Master Planning” line item.
This line item received an appropriation of $654,134 in the 2017 budget, bringing the unencumbered total to $818,313,while the contractor and the City were negotiating contract scope and fees. Those negotiations recently concluded with the aforementioned contract.
Correct administrative procedure would have been to fully fund this expense line on or before the meeting when the underlying contract was approved. Finance staff will increase its scrutiny of agenda items from all departments with any financial and/or budgetary component to ensure procedural compliance and to improve financial controls.