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Santiago Park Main Street Entrance Project <br />September 17, 2024 <br />Page 4 <br />FISCAL IMPACT <br />As indicated in the Cost Analysis, the estimated total construction delivery cost of the <br />project is $3,207,000. All funds are available for expenditure in Fiscal Year 2024-25 <br />Capital Improvement Program (Exhibit 6). Any remaining balances not expended at the <br />end of the fiscal year will be carried forward into FY 2025-26. <br />The proposed contract authorizes staff a maximum of 10% in contingencies for <br />construction contract change orders. Staff will return to the City Council for authorization <br />and appropriation of additional contingency if necessary. <br />With the approval of the requested appropriation adjustments, $2,807,000 in grant funds <br />will be recognized in the Parks Capital Grants, State Grant -Direct revenue account (No. <br />16117002-52025) and appropriated for spending in the Parks Capital Grants, <br />Improvements Other Than Building expenditure account (No. 16117263-66220), and <br />$400,000 of the accumulated fund balance will be appropriated for spending in the <br />Residential Development District 2, Improvements Other Than Building expenditure <br />account (No. 31213260-66220). The spendable portion of the fund balance is estimated <br />to be $6,142,246 as of June 30, 2024, of which $4,739,260 is committed to existing and <br />earmarked projects, leaving a balance of $1,402,986, which is sufficient to allow for the <br />recommended appropriation of $400,000. <br />The following table summarizes the funds budgeted for expenditure to deliver the <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 />Appropriation Adjustments <br />SA River Conservancy <br />24-25 <br />16117263-66220 <br />Parks Capital <br />Program-PWA, <br />$2,807,000 <br />(20-2731) <br />Grants <br />Improvements Other <br />Than Buildings <br />Residential <br />Acquisition & <br />24-25 <br />31213260-66220 <br />Development <br />Development, <br />$400,000 <br />(20-2731) <br />District 2 <br />Improvements Other <br />Than Building <br />Total <br />$3,207,000 <br />EXHIBIT(S) <br />1. Location Map & Concept Plan <br />2. Bid Proposal <br />3. Construction Contract <br />4. Cost Analysis <br />