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Approve the Miscellaneous Budget Ordinance Amendments to Adjust Various Fund Budgets for FY 2018-19.
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Staff:
Department:
Amy Oland, Interim Director
Business Management
Matt Brinkley, Budget Manager
Overview: After the Council approves the annual budget, periodic changes require the Town to amend the original budget.
Recommendation(s):
That the Council:
* Enact the attached budget ordinance amendment to adjust the General Fund and the Capital Improvement Projects Fund; and
* Enact the attached project ordinance amendments to adjust the Affordable Housing Fund, 2015 Trails and Greenways Bond Fund, and Capital Projects Ordinance Fund.
Key Issues:
* Capital Improvement Projects (CIP) Fund
The FY 2019 General Fund budget included $472,214 for building maintenance projects. The building maintenance division has developed a plan for these funds. A portion of the FY 2019 allocation needs to move to the CIP Fund which was created to house projects that are more than $50,000 and have a useful life of at least 10 years. The projects that meet this criteria for the current year include a boiler replacement at both the Town Operations Center and the Community Center totaling $127,816 as well as additional funding for the roof replacement at Fire Station #1, Hargraves Center, and Northside Gym totaling $201,675. The balance of $142,723 would remain in the General Fund for non-capital building maintenance needs. This funding would be used for maintenance needs identified in the Facilities Condition Assessment that does not meet the capital project threshold which include door, window and awning replacements, pool repairs, and basic exterior and interior building maintenance. Enactment of the attached budget ordinance amendment would move $329,491 in the General Fund from the Public Works department (building maintenance division) to Nondepartmental which includes transfers to other funds. The General Fund will transfer the $329,491 to the Capital Im...
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