TO: Mayor and City Council
THROUGH: Keith Stahley, City Manager
FROM: Josh Eggleston, Chief Financial Officer
SUBJECT:
title
Transfer of FY 2023 appropriations for the Navigation Center renovation project.
Ward(s): Ward 2
Councilor(s): Councilor Nishioka
Neighborhood(s): SESNA
Result Area(s): Good Governance; Safe, Reliable and Efficient Infrastructure; Welcoming and Livable Community.
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SUMMARY:
summary
The successful bid for the Navigation Center renovation project and the proposal for the furniture package came in higher than anticipated in the FY 2023 budget. A transfer of appropriation is requested to increase contingency on the project to 12%. If needed, up to $300,000 of the $5M state grant to establish and operate the Navigation Center would be used to complete the project.
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ISSUE:
Shall City Council adopt Resolution No. 2022-51 authorizing a transfer of appropriations in the fiscal year 2023 budget for the Navigation Center renovation project?
RECOMMENDATION:
recommendation
Adopt Resolution No. 2022-51 authorizing a transfer of appropriations in the fiscal year 2023 budget for the Navigation Center renovation project.
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FACTS AND FINDINGS:
Navigation Center renovation project
Fund 404, Misc. Federal and State Grants, Misc. State Grants
From: Misc. State Grants, Other Special Payments, 404-60981015-54850, $300,000
To: Misc. State Grants, Transfers, 404-60981015-62110, $300,000
Fund 255, Construction Fund, Navigation Center Construction
Add: Navigation Center, Transfers In, 255-60903000-39110, $300,000
Add: Navigation Center, Construction Contracts, 255-60903000-52620 $300,000
This action is requested to increase contingency for the Navigation Center renovation project from just over 4% to 12%, which is an appropriate level of contingency for this type of renovation project. Increasing contingency would also allow for timely approval of potential change orders to keep forward progress on the project. This funding would only be accessed if needed.
BACKGROUND:
State law allows local governments to approve transfers of appropriations within the limits established by the adopted budget to address unanticipated changes.
Kali Leinenbach
Senior Fiscal Analyst
Attachments:
1. Resolution No. 2022-51