Title:
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Approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #24-029 in the 2014 Infrastructure Sales Tax Fund to transfer $290,288 from reserves for additional funding for the Jacobs Trail Outfall Project. District1; Dallari (Timothy Jecks, Budget & Management Director) - Requesting Dept: Public Works
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Division:
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Management and Budget
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Authorized By:
Timothy Jecks, Director of Management & Budget
Contact/Phone Number:
Sara Carrick, Financial Administrator - 407-665-7180
Background:
The Jacobs Trail Outfall Project (CIP#01785340) includes the construction of an outfall pipe system to provide flood relief for Crescent Lake and surrounding properties. The lowest bidder for construction is Cathcart and the bid came in at $570K. Currently, the project has $337K in available funds. This budget amendment will add an additional $290K which includes a 10% contingency to cover the construction contract ($570K+$57K in contingency funds = $627K). Current reserves in the 2014 Infrastructure Sales Tax Fund are budgeted at $9.3M.
recommendation
Staff Recommendation:
Staff requests that the Board approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #24-029 in the 2014 Infrastructure Sales Tax Fund to transfer $290,288 from reserves for additional funding for the Jacobs Trail Outfall Project.