AGENDA REPORT
DATE: May 28, 2024
TO: City Commission
FROM: Bill McDaniel, City Manager
SUBJECT: CIP Budget Adjustment for Fiscal Year 2023-24
EXECUTIVE SUMMARY:
This CIP budget adjustment appropriates $5,000,000 to the two McIntosh Park projects based on the legislative appropriation from the Florida Department of Environmental Protection related to LPA0038. The General Appropriations Act in FY 2021-22 appropriated $1,000,000 and $5,000,000 in FY 2022-23. These funds will be applied to the following project:
• UO033 - McIntosh Park Wetland Expansion - $3,800,000
• UO034 - McIntosh Park Indirect Potable Reuse - $1,200,000
Amendment No. 3 to the FDEP grant agreement will record the legislative appropriation for the McIntosh project that allows the money to be spent in this area.
Due to customer growth and the meter change out program, the water meter project CIP # UM006 is approaching its limit. Staff recommends that this project be increased by $900,000. This increase is supported by the revenue increase related to new installations.
RECOMMENDATION:
That the City Commission adopt a resolution approving an amendment to the Capital Improvement Budget for the fiscal year ending September 30, 2024, and the next four years.
FISCAL IMPACT:
Funding for this item is listed on the attached resolution.
Prepared by: Diane Reichard, Chief Financial Officer