Laserfiche WebLink
King Street Urban Greening Project <br />October 17, 2023 <br />Page 4 <br />3 <br />7 <br />7 <br />2 <br />authorized contingency. Approval of the Appropriation Adjustments will recognize <br />$275,000 of prior year fund balance in the Federal Clean Water Protection fund, Prior- <br />Year Carryforward revenue account (No. 05717002-50001) and appropriate the same <br />amount into the Federal Clean Water Protection Enterprise, Improvements Other Than <br />Buildings expenditure account (No. 05717640-66220), and recognize $300,000 of prior <br />year fund balance in the Residential Development District 1, Park Acquisition & <br />Development Fees, Prior Year Carryforward revenue account (No. 31113002-50001) <br />and appropriate the same amount into the Residential Development District 1, <br />Improvements Other Than Building expenditure account (No. 31113260-66220). <br />The proposed contract enables Staff to authorize a construction cost increase of up to <br />25 percent, if necessary for contingencies. Staff expects to utilize other available Public <br />Works appropriations if a contingency becomes necessary to complete the project. If <br />there are no other available appropriations, then Staff will return to the City Council with <br />a project update and recommendations. <br />The following table summarizes the funds budgeted and available in current FY 2023-24 <br />(Exhibit 5) for expenditure to deliver construction of this project. Any remaining balances <br />not expended at the end of the fiscal year will be presented to City Council for approval <br />of carry-overs to FY 2024-25. <br />Fiscal Year <br />Accounting <br />Unit - Account <br />No. <br />(Project No.) <br />Fund <br />Description <br />Accounting Unit, <br />Account No. <br />Description <br />Amount <br />Existing Project Budget <br />2023-24 16417640-66220 <br />(23-6625) <br /> PWA <br />Enterprise <br />Capital <br />Grants <br />Public Works – Water <br />Quality and Control, <br />Improvements Other <br />Than Buildings <br />$1,343,240 <br />Appropriation Adjustments <br />2023-24 05717640-66220 <br />(23-6625) <br />Federal <br />Clean Water <br />Protection <br />Enterprise <br />Federal Clean Water <br />Protection Enterprise, <br />Improvements Other <br />Than Buildings <br />$275,000 <br />2023-24 31113260-66220 <br />(23-6625) <br />District 1 <br />Acquisition <br />and <br />Development <br />Fund <br />Residential <br />Development District <br />1, Improvements Other <br />Than Buildings <br />$300,000 <br />Total $1,918,240 <br />  <br />  <br />City Council 18 – 4 10/17/2023