Title
Department of Transportation recommending the Board authorize the Chair to sign a Budget Transfer for fiscal year 2011/2012 increasing appropriations and revenues in the Capital Improvement Program by $500,000; decreasing the appropriations and revenue in the Road Fund by $500,000; increasing appropriations and revenue in the Traffic Impact Fee Funds by $823,000; increasing appropriations and revenue in the HOV Project Special Revenue Fund by $60,000; decreasing appropriations in various Special Districts by a total of $4,721; increasing appropriations and revenue in the OES DR 1628 Special Revenue Fund by $15,903; increasing appropriations and revenue in the Placerville Airport Operations Enterprise Fund by $15,000. (4/5 vote required)
FUNDING: Local Transportation Funds, Silva Valley Interchange Set Aside, Caltrans SHOPP Grant Funding, Special District Funds, OES Funds, Interest Earnings, and Placerville Airport Fuel Sales.
Body
BUDGET SUMMARY:
Total Estimated Cost…………… $909,182
Budgeted…………………………
New Funding……………………. $909,182
Savings…………………………
Other……………………………
Total Funding Available………… $909,182
Change To Net County Cost……|9 9|
Fiscal Impact/Change to Net County Cost
There is no change to net County cost. Funding is provided by the Local Transportation Funds, Silva Valley Interchange Set Aside, Caltrans SHOPP Grant funding, Special Districts funding and by interest accumulation on OES funds over multiple years from three Federal declared disasters and an increase in revenue from the sale of fuel at Placerville Airport.
Background
CIP: The HOV Phase 0 project was on the fast track through design and award of construction to position the County to receive $15,500,000 of available Corridor Mobility Improvement Act grant funds. The costs to complete the engineering and award process exceeded the FY 11/12 estimated project budget. Additional staff time of approximately $500,000 related to work performed on behalf...
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