AGENDA ITEM EXECUTIVE SUMMARY
ITEM TITLE*
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Approve the Miscellaneous Budget Ordinance Amendment to Adjust Various Fund Budgets for FY 2024-25.
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RESPONSIBLE STAFF, TITLE, DEPARTMENT*
Amy Oland, Director, Business Management Department
Matt Brinkley, Assistant Director, Business Management Department
STAFF RECOMMENDATION*
That the Council:
• Enact the attached budget ordinance amendment to adjust the Vehicle Maintenance Fund, Transit Fund, and Stormwater Fund.
• Enact the attached project ordinance amendments to adjust the Housing Capital Grants Fund and Affordable Housing Fund.
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ACTION/DECISION POINTS*
By enacting the budget ordinance amendment, the Council adjusts the budgets for the Vehicle Maintenance Fund, Transit Fund, and Stormwater Fund. By enacting the project ordinance amendments, the Council adjusts the budget for the Housing Capital Grants Fund and Affordable Housing Fund.
LEGISLATIVE CONTEXT*
After the Council approves the annual budget, periodic changes require the Town Council to amend the current budget, as described in state statute 159-15.
BACKGROUND AND CONTEXT*
Vehicle Maintenance Fund:
Fleet repairs & maintenance - Enactment of the attached budget ordinance amendment would appropriate $75,000 in Vehicle Maintenance fund balance and $19,022 in insurance reimbursements and allocate the $94,022 for additional fleet repairs and maintenance.
Transit Fund:
Protective Safety Barriers - Enactment of the attached budget ordinance amendment would allocate $707,514 in Transit fund balance for the purchase of protective safety barriers.
Stormwater Fund:
Stormwater Projects - Enactment of the attached budget ordinance amendment would allocate $1,150,000 in Stormwater fund balance to carry out the following projects: North Street Pipe Repair, Bolinwood Drive Pipe Replacement, purchase of a street sweeper, and various curb and gutter projects.
Housing Capital Grants Fund:
Sales Tax Refund - Enactment of the attached project ordinance amendment recognizes and allocates the sales tax of $7,299 to provide plumbing, heating, ventilation, and air conditioning services for public housing units.
Affordable Housing Fund:
Revenue in Lieu - Enactment of the attached project ordinance amendment recognizes and allocates the $72,250 revenue in lieu payment and for low and moderate income households.
ATTACHMENTS
Budget Ordinance Amendments - Vehicle Maintenance Fund, Transit Fund, and Stormwater Fund
Project Ordinance Amendment - Housing Capital Grants Fund
Project Ordinance Amendment - Affordable Housing Fund
Background Information
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