ITEM TITLE:
#18-05 - Amending the 2018 City Budget by Reducing Appropriations to Kelsey Dock Phase II by $1,500,000, and Transferring $1,450,000 to Airport HVAC Upgrades and $50,000 to Building Maintenance Overhead Door Upgrades
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: $1.5MM
Unencumbered Balance: $2.7MM
Funding Source: Kelsey Dock Phase II: 312 6400 58200
RECOMMENDATION:
Approve Resolution #18-05 amending the 2018 City Budget by reducing appropriations to Kelsey Dock Phase II by $1,500,000, and transferring $1,450,000 to Airport HVAC Upgrades and $50,000 to Building Maintenance Overhead Door Upgrades.
SUMMARY STATEMENT:
• This Budget Resolution pertains to the ECI Contract under New Business on this agenda.
• Following the Kelsey Dock Uplands design workshop in 2017, staff proposed $2.7MM of Capital Project Funding in the 2018 Budget to allow for completion of multiple project phases.
• This funding was approved with the adopted budget, and resides in Kelsey Dock Phase II: 312 6400 58200
• To facilitate more specific bookkeeping and efficient contracting, staff proposes further subdividing these funds as follows:
o Airport HVAC Upgrades: 350 0310 55000, activity 1801: $1,450,000
o Building Maintenance OH Door Upgrades: 350 0310 55000, activity 1802: $50,000