ITEM TITLE:
Resolution Amending the 2018 City Budget by Closing the Concluded Emergency Watershed Protection Program Grant, Eliminating the Unused Grant Award in the Amount of $320,540.25,, and Repurposing Unused Matching Fund Appropriations of $192,580.75 to Capital Projects Fund.
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: $192,580.75
Unencumbered Balance: $192,580.75
Funding Source: 310-8065-58000, Watershed Match
RECOMMENDATION:
Approve budget resolution as presented
SUMMARY STATEMENT:
• City Council approved this grant award in 2017 via Resolution 17-0016
• The original budget was:
o $1.34MM Grant Award (75%)
o $437K City Match (25%)
o $89,040 of additional non-reimbursable costs
§ Preliminary closeout figures reflect that all project costs were ultimately reimbursable
• This resolution proposes the following accounting and budgeting entries:
o Release of the unused grant award of $320,540.25, and closure of that account
o Repurposing of unused City match appropriation of $192,580.75, and closing of that account
o Moving the $192K to unspecified capital projects contingency in advance of Council projects prioritization in February/March of 2019
• Staff will be present to field question about project scope and deliverables
• Attachments: Resolution Watershed Grant Close