ITEM TITLE:
#20-10 - Amending the 2020 Budget by Appropriating $600,000 from Undesignated Flood Maintenance Funds to Lowe River Dike Maintenance and Improvements
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: $600,000
Unencumbered Balance: $1.76MM
Funding Source: 350.0750.55000, Flood Mitigation Maintenance
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
• This resolution proposes funding for a Major Maintenance project for Lowe River Dikes
• Project information is provided on a separate agenda item for contract approval.
• The City has approximately $2.8MM appropriated to Flood mitigation. $1.76MM of this balance is not designated to any specific projects.
• This resolution creates a new project, and reduces the un-designated balance to $1.16MM.
• While the City Manager is authorized to allocate funds among departments without formal Council approval, staff is forwarding the resolution to Council so as to continue with the established convention of Council approval of all new projects.