AGENDA REPORT
DATE: June 24, 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 $163,000 toward the costs associated with the sinkhole on Airport Road - CIP # SH001. There was a balance of $133,607 available from the sinkhole on Carriage Court in May 2023.
Funds will be transferred from the project used for street repairs to cover the scope of work outlined in the Madrid contract.
RECOMMENDATION:
That the City Commission adopt a resolution to approve 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