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TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: DIRECTOR OF PUBLIC WORKS
DATE: DECEMBER 16, 2003
SUBJECT: ADDITIONAL FUNDING FOR PARKS AND OPEN SPACE MAINTENANCE
Adopt Resolution 2003 - , a resolution of the city council of the City of Rancho Palos Verdes, amending Resolution 2003-42, the budget appropriation for fiscal year 2003-04, for a budget adjustment to the city’s General Fund.
In July 2003 contracts with a total value of more than $450,000 were awarded to two companies for roadway maintenance services. The principal activity for these two contracts consist of maintenance work within the right of way, and the funding source is the Gas Tax Fund. Some activities, however, are outside the right of way and are thus ineligible for gas tax funding, and General Funds in the amount of $19,000 are included in the funding plan.
To date General Fund expenses totalling nearly $17,000 have been performed and additional General Funds are needed for the balance of the fiscal year. This report requests additional funding in the amount of $30,000 for the anticipated General Fund activities.
Historically the City has utilized approximately $20,000 in General Funds for these two contracts. This year, however, there have been several necessary, unexpected, one-time projects that have consumed a significant amount of funds.
These projects include:
Adopting the staff recommendation will provide $30,000 in additional funding for the anticipated General Fund activities in the roadway maintenance contracts for the balance of the fiscal year.
At the beginning of the fiscal year, the FY03-04 estimated General fund revenues in excess of adopted expenditures were $83,510. The calculation of available anticipated revenues is presented below. Appropriations that cannot be funded within this year’s available anticipated revenues will have to be drawn from the General fund reserve. The calculation of the projected General fund reserve available for appropriation is also presented below.
Director of Public Works
Les Evans, City Manager