REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Fred A. Wilson, City Manager
PREPARED BY: Gilbert Garcia, Chief Financial Officer
Subject:
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Adopt Resolution No. 2018-51 amending the Fiscal Year 2018/19 Budget to Carry Over Unspent Appropriations from Fiscal Year 2017/18 for the Continuation of Capital Improvement Program (CIP) Projects
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Statement of Issue:
Certain Capital Improvement Program (CIP) projects, previously budgeted, were not completed by June 30, 2018, the end of Fiscal Year (FY) 2017/18. To continue these projects, $27,088,797 of remaining unspent appropriations need to be carried over into Fiscal Year 2018/2019 to help ensure project completion.
Financial Impact:
The $27,088,797 of remaining unspent appropriations is detailed by each applicable Fund in the attached Exhibit A. There are sufficient fund balances and/or ongoing revenue in these funds to support the request.
Recommended Action:
recommendation
Adopt Resolution No. 2018-51, "A Resolution of the City Council of the City of Huntington Beach Amending the Fiscal Year 2018/19 Budget to Carry Over Unspent Appropriations from Fiscal Year 2017/18", which incorporates and references the continuation of funding. Exhibit A lists individual capital improvement projects and their respective carry over amounts totaling $27,088,797.
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Alternative Action(s):
Do not approve the recommended action and direct staff accordingly.
Analysis:
Each fiscal year, there are budgeted capital projects that have not been completed by the close of the fiscal year. The City is required to carry over appropriations into the following fiscal year in order to complete those previously approved and budgeted capital improvement projects.
The attached Resolution references Exhibit A: "Carry Over of Projects from FY 2017/18 to FY 2018/19," totaling $27,088,797 across multiple Funds for the amounts necessary to continue work in FY 2018/19 on the v...
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