AGENDA REPORT
DATE: September 9, 2024
TO: City Commission
FROM: Bill McDaniel, City Manager
SUBJECT: CIP Budget Adjustment for Fiscal Year 2023-24
EXECUTIVE SUMMARY:
This CIP budget adjustment transfers $592,000 from CIP # ST001 - Street Resurfacing to complete CIP # CS011 - CDBG 2021-22 Street Resurfacing Project. The CDBG Grant provided $321,374.26 for this project. After the bid was submitted, there was a shortfall. Once the project is complete, any remaining funds in CIP # CS011 will be transferred back to CIP # ST001.
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