Broken Arrow City Council
Meeting of: 08/20/2019
Title:
title
Approval of and authorization to execute Budget Amendment Number #3 for Fiscal Year 2020
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Background:
The Municipal Budget Act adopted by the City Council allows the City to amend the budget at any time during the year for necessary expenditures incurred that exceed the original budget or when circumstances warrant such action.
As discussed at August 6, 2019 meeting the failure of Hillside Drive Wall needs to be addressed and this item had not been budgeted. It is anticipated the cost of the wall to be $1,000,000 or less. The funding for this project will come from Sales Tax Capital Improvement (STCI) fund balance. There is a possibility that the City may qualify for reimbursement from the Federal Emergency Management Agency (FEMA), but it is too early for that to be determined. Should funding from FEMA, be granted those funds will reimburse STCI’s fund balance.
Fire Station #3 - It has been determined that additional funds will be needed to complete construction of the new Fire Station #3 and to purchase an ambulance and fire truck as required by the GO Bond language. At your August 6 meeting the council rejected the bids and staff will be looking for cost saving measures to keep the project within the budget (after amendment) and in compliance with the GO Bond language. Currently the following funds available:
Fund 92 GO Bond 2014 $1,802,000
Fund 91 GO Bond 2011 $2,181,000
STCI Budget $ 611,000
Total: $4,595,000
An additional $500,000 from STCI fund balance will be needed to for construction and required apparatus.
Cost: $1,500,000
Funding Source: Fund 30 Sales Tax Capital Improvement
Requested By: Cynthia S. Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Budget Amendment # 3.
Recommendation:
recommend
Approval of and authorization to execute
Budget Amendment Number #3 for Fiscal Year 2020
end