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Traffic Signal Modification at Warner Avenue and Wright Street <br />August 6, 2024 <br />Page 4 <br />With the approval of the requested appropriation adjustment, a portion of the <br />accumulated fund balance will be appropriated for spending in the Transportation <br />System Improvement Authorization Area B Tustin, Improvements Other Than Buildings <br />expenditure account (No. 99217950-66220). The spendable portion of the fund balance <br />is estimated to be $8,523,619 at June 30, 2024, which is sufficient to allow for the <br />recommended appropriation of $197,335. The funds will be budgeted and available for <br />this item in the accounts below. <br />Project No. 23-7539 is the number assigned to the funding for tracking of all <br />expenditures to deliver the construction of this project. A proposed carryover of FY <br />2023-24 unspent funds in Project No. 23-7539 will be presented to City Council for <br />approval of this contract. Upon approval, funds will be available for this expenditure in <br />Fiscal Year 2024-25 Capital Improvement Program (Exhibit 5). Any remaining balances <br />not expended at the end of the fiscal year will be presented to the City Council for <br />approval of carryovers to Fiscal Year 2025-26. <br />The proposed contract enables staff to authorize a construction cost increase of up to <br />25%, if necessary for contingencies. Staff expects to utilize other available Public Works <br />appropriations if a contingency becomes necessary to complete the project. If there are <br />no other available appropriations, staff will return to City Council with a project update <br />and recommendations. <br />The following table summarizes the funds budgeted for expenditure to deliver <br />construction of this project. <br />Fiscal <br />Accounting Unit - <br />Fund <br />Accounting Unit, <br />Year <br />Account No. <br />Description <br />Account No. <br />Amount <br />Project No. <br />Description <br />Original Budget <br />13518783-66220 <br />CDBG Programs, <br />2024-25 <br />(23-7539) <br />CDBG <br />Improvements Other <br />$506,250 <br />Than Buildings <br />Appropriation Adjustment <br />Tran Sys <br />Tran Sys Imp Aut Area <br />2024-25 <br />99217950-66220 <br />Imp Aut Area <br />B Tustin, Improvements <br />$197,335 <br />23-7539 <br />B <br />Other Than Buildings <br />Total <br />$703,585 <br />EXHIBIT(S) <br />1. Location Map <br />2. Bid Proposal <br />3. Construction Contract <br />