HomeMy WebLinkAbout02-26-18 City Commission Packet Materials - A3. Resolution 4886, Street Maintenance Fund Budget Amendment for S. TracyCommission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Kristin Donald, Finance Director
SUBJECT: Commission Resolution No. 4886 – Amending the City’s Annual Budget
for the Street Maintenance Fund Appropriations for the Fiscal Year
Ending June 30, 2018 (FY18).
MEETING DATE: February 26, 2018
AGENDA ITEM: Action
RECOMMENDATION: Approve Resolution No. 4886- Amending the City’s Annual
Budget for Street Maintenance Fund Appropriations.
BACKGROUND:
Capital improvement item for Street and Curb Reconstruction SCRO4, S. Grand (Olive to Hayes),
was planned for FY2018 for a total of $2,551,255 with 25% coming from the Street Maintenance
Fund, $684,000. Homeowners did not accept this project and the project has been moved to the
bottom of the list of projects. SCR09 S. Tracy (Babcock to College) is the next project and has
support and the Special Improvement District process began with intent to create on January 22,
2018. The total cost of the project is $1,524,676 with 85% being covered by the Street Maintenance
fund for a total of $1,298,800. For the remaining $229,200 is to be covered using Special
Improvement District 741. The difference in the planned budget is $613,800; this additional
expenditure will be funded with cash-on-hand that is available in the Street Maintenance Fund.
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ALTERNATIVES: Do not fund the project at this time.
FISCAL EFFECTS: The current budgeted spending in the Street Maintenance Fund will
increase by a total of $613,800. The FY18 estimated ending cash balance in the S Fund will be
decreased from $439,721 to ($174,079). We were planning for deficits in the Street Maintenance
Fund capital plan in FY18 with a positive balance by FY19. We have cash available due to changes
in the street reconstruction projects and timing.
Attachment: Resolution No. 4886
Report compiled on February 15, 2018
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Page 1 of 3
COMMISSION RESOLUTION NO. 4886
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, AMENDING FISCAL YEAR 2018 (FY18) STREET MAINTENANCE FUND
BUDGET TO INCLUDE ADDITIONAL EXPENDITURES OF $613,800.
WHEREAS, the City Commission did, on the 26th
day of February, 2018, after due and
proper legal notice, conduct a public hearing and adopt a municipal budget for Fiscal Year 2017-
2018 (Fiscal Year 2018); and
WHEREAS, the need to change the projects listed for funding in Fiscal Year 2018 in
the most-recently adopted Capital Improvement Plan; and
WHEREAS, the City Commission did, on the 26th day of February 2018, after due and
proper legal notice, conduct a public hearing on proposed amending the municipal budget.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Bozeman, Montana, to wit:
Section 1 – Appropriation Changes
The City Commission of the City of Bozeman, Montana, does hereby
authorize the following changes to expenditures in the Street Maintenance Fund:
Additions: This project and amount is added to the FY18 budget.
SCR09 – South Tracy $613,800
Total Appropriations Changes: $613,800
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Resolution 4886, Budget Amendment for Street Maintenance Fund Project SCR09 for FY18
Page 2 of 3
Section 2 – Use of Cash on Hand in the Street Maintenance Fund
The increased appropriation will be funded with cash on hand in the Street
Maintenance Fund.
Section 3
Pursuant to Section 7-6-4030, M.C.A., this resolution, upon its passage, shall be in full
force and effect on July 1, 2017.
Section 4
That should it be found by any court of competent jurisdiction that any section, clause,
portion, sentence, word, or phrase of this resolution is deemed to be contrary to any existing law
or regulations, that in this instance, it is the intent of the City Commission of the City of Bozeman,
Montana, that all other portions, sections, words, clauses, phrases, or paragraphs of this document
shall remain in full force and effect.
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Resolution 4886, Budget Amendment for Street Maintenance Fund Project SCR09 for FY18
Page 3 of 3
PASSED, ADOPTED, AND APPROVED by the City Commission of the City of
Bozeman, Montana, at a regular session thereof held on the 26th
day of February, 2018.
___________________________________
CYNTHIA L. ANDRUS
Mayor
ATTEST:
_________________________________
ROBIN CROUGH
City Clerk
APPROVED AS TO FORM:
___________________________________
GREG SULLIVAN
City Attorney
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