ITEM TITLE:
#19-46 - Amending the 2019 City Budget by transferring $104,417 from Reserve to General Fund / Community Service Organizations for the Robe Lake VFDA / Army Corps Project
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: $104,417
Unencumbered Balance: $104,417
Funding Source: 350-0250-55000; Reserve / VFDA Robe Lake ACOE
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
• The original 2019 budget included an additional $104K for CSO / Valdez Fisheries for a proposed project at Robe Lake.
• Staff moved these funds into a Reserve account via resolution 19-0023, upon learning that the project might not commence until 2020.
• VFDA has since learned that the project will commence in 2019, and has therefore requested that funds be returned to the 2019 CSO budget.
• Additional information from Lori Plaster, Administrative Coordinator:
In March 2019, VFDA requested the city council delay the CSO grant disbursement in the amount of $104,417 until the Army Corp of Engineers conducted its evaluation of the Robe Lake rehabilitation project for potential project funding under its Section 206 Ecosystem Restoration Program. In June, we received communication from the COE stating that unfortunately, they did not receive funding for any “new” projects. VFDA intends to now move forward with the selection of a project contractor this October with the anticipation of work to begin in 2020. At this time we are requesting to have the COV’s Finance Dept. disburse the full amount of the grant funding to VFDA.
• Attachment: Resolution 2019 Budget VFDA Robe Lake Project