Report to Mayor and City Council
Tuesday, July 17, 2018
Discussion
SUBJECT:
Title
CONSIDER RESOLUTION NO. 18-088, AMENDING THE FISCAL YEAR 2017-18 BUDGET IN THE COOPERATIVE AGREEMENT BOND PROCEEDS FUND AND MEASURE R FUND FOR THE WILMINGTON/I-405 INTERCHANGE PROJECT 919 (CITY COUNCIL)
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I. SUMMARY
The Wilmington/Interstate-405 Interchange Project 919 is nearing completion and the various contracts are being closed out. The project was originally approved in FY05-06, but construction activities did not commence until summer 2013. There were numerous changes to the budget both on the cost side and the revenue side since, with the last adjustment made on April 18, 2017, when staff requested a $5 million budget amendment from redevelopment bond proceeds.
Given the percent completed and the relatively small amount of work remaining to be completed, total project expenditures related to vendor contracts are tracking with the approved budget. There are accounting issues related to estimated revenues, continuing appropriations and booking of internal personnel cost that require an additional appropriation to be able to close out a number of construction contracts.
The requested appropriation of $2,470,886 does not reflect new costs, but a reconciliation of existing approved costs against revenues received and other accounting changes. Staff desires to complete the vendor payments and will return to Council with a complete reconciliation.
II. RECOMMENDATION
Recommendation
ADOPT Resolution No. 18-088, A RESOLUTION OF THE CITY OF CARSON CITY COUNCIL AMENDING THE FISCAL YEAR 2017-18 BUDGET IN THE COOPERATIVE AGREEMENT BOND PROCEEDS FUND AND MEASURE R FUND
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III. ALTERNATIVES
TAKE another action deemed appropriate by City Council.
IV. BACKGROUND
Project 919 includes the construction of a new northbound I-405 on-ramp, the widening of Wilmington Avenue from 223rd Street to 220th Street, the modification of the existing southbound I-405 on-ramp, and the...
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