05-11-1998 Council Packet - Laserfiche WebLink

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Notes: In 1996, $200,000 was budgeted for the Old Crystal Bay Road Trail but only $52,200 was expended, leaving a budget balance of $147,800. This budget surplus was not carried over to the 1997 budget. In 1997 the budget for the trail is $102,500, however, a larger portion of trail was completed than originally planned. The amendment is required to fund the portion of trail completed up to the school property. Council authorized the improvement on 9/8/97. A budget amendment was not requested at that time. Council authorized the project and approved a budget amendment of $33,266 on 4/14/97. The additional budget amendment of $1,724 is to fund pea gravel, engineering and miscellaneous expenses. Council authorized the expenditure and approved a budget amendment of $32,240 on 6/23/97. Council authorized the project, approved a budget amendment of $19,480, and awarded the contract in that amount on 12/8/97. However, the project contractor costs will be incurred in 1998, therefore the budget amendment of $19,480 should be carried forward to the 1998 budget. The 1997 budget amendment of $3,000 is for engineering costs. The 1997 budget includes $3,800 for this project. The amendment is to fund miscellaneous parts and supplies required to complete the project. The 1997 budget includes $6,000 for this project. When the contract was awarded. Council increased the budget to $7,321. The amendment is to complete the project. Council authorized the fund on 11/24/97. The amendments are required because the revenues and expenditures were not specifically budgeted in the General Fund before the reallocation of the related revenues and expenditures to the new fund. Temporary Cash Advance from the PIR Fund to the MSA Fund During 1997 the City had several Municipal State Aid Fund (MSA) construction projects in process which are being funded in whole or in part by municipal state aid However, until the projects are closed out and the final revenues from state aid, other funds, or other funding sources, such as the collection of special assessments levied for the Highway 12 - Willow Drive project, are completed, it is necessary to advance $4,000 cash from the PIR Fund to the MSA Fund to eliminate the temporary cash deficit in the MSA Fund at December 31, 1997. Certain amounts will be received in 1998 for Watertown Road, Brown Road North, County Road 15/Femdale Marsh, and County Road 6 projects. Some amounts will be collected over a longer period, such as the special assessments, and some costs not eligible for MSA reimbursement will need to be covered by other City funds. The advance will be paid back as soon as possible.