TO: LINDA REICH, CITY MANAGER
FROM: HYE JIN LEE, DIRECTOR OF PUBLIC WORKS
SUBJECT
title
Funding Reconciliation for the Central Avenue / SR-60 Interchange Project (R7200).
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RECOMMENDATION
recommendation
1) Appropriate $62,942 from the General Fund (Fund 100) to support required landscape maintenance for the Central Avenue / SR-60 Interchange Project (R7200); 2) approve a transfer of $988,803 from the General Fund balance to reimburse the Citywide Circulation DIF (220) for expenditures of the prior fiscal year Police Department masonry block wall; 3) appropriate $988,803 from the Citywide Circulation DIF (Fund 220) to the Central Ave / SR Interchange Project (R7200) for a revised project budget of $19,471,129; and 4) authorize the City Manager to execute all the necessary documents on behalf of the City.
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FISCAL IMPACT
The $988,803 previously expensed to the Citywide Circulation Development Impact Fee Fund will be reclassified as an expense to the General Fund. This is due to the Police Department masonry block wall being outside the approved project scope for the Central Ave / SR Interchange Project (R7200). There are two appropriations: $62,942 from the General Fund (100) and $988,803 from the Citywide Circulation DIF (Fund 220). There is sufficient fund balance in Fund 100 and Fund 220 for both purposes. This adjustment restores the Circulation DIF Fund 220 and preserves the integrity of the Central Avenue / SR-60 Interchange Project (R7200) budget, while accurately accounting for the masonry wall outside the project.
Funding Source
Adopted Budget
Budget Adjustment
Revised Budget
Fund 220 Citywide Circulation DIF
$ 14,719,590.00
$ 988,803.00
$ 15,708,393.00
Fund 260 Preserve Circulation DIF
$ 1,725,000.00
$ -
$ 1,725,000.00
Fund 320 SB County Reimbursement
$ 1,255,255.00
$ -
$ 1,2...
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