Title
Environmental Management Department/Air Quality Management District and Transportation Department recommending Budget Transfer appropriating Transportation Development Act Article 3 and Article 8 funding within Transportation special revenue funds. (4/5 vote required)
RECOMMENDED ACTION: Approve.
Body
BUDGET SUMMARY:
Total Estimated Cost $0.00
Funding
Budgeted $
New Funding $4,992
Savings $
Other $
Total Funding Available $
Change To Net County Cost $0.00
Fiscal Impact/Change to Net County Cost: No change in Net County Cost
Reason for Recommendation: In FY 06/07, The Department of Transportation (DOT) was allocated Transportation Development Act (TDA) funds in the amount of $293,730.60 for Article 8 purposes, by the El Dorado County Transportation Commission (EDCTC). Actual TDA-LTF revenue was less than estimated with only $259,590.40 in funding received. In FY 07/08 DOT received notification from EDCTC that the FY 06/07 TDA allocation would be "made whole". An additional $34,140.20 in funding was made available and has since been claimed. The interest accrual on the additional funds has been estimated to be approximately $2,000. This budget transfer appropriates the funds in a special revenue fund which will then be transferred to DOT.
At the December 16, 2008 Board of Supervisors meeting the Board approved Transportation Development Act Article 3 Pedestrian and Bicycle Funding in the amount of $2,992 from the EDCTC for the purchase and installation of bike racks at the El Dorado County Government Center. Following that approval the AQMD was made aware of the funding special revenue requirement wherein all TDA funds must be appropriated in a special revenue fund with the Department of Transportation fund. This budget transfer appropriates the approval of those funds.
The total action is the sum of the two prior paragraphs equaling $4,992.
Action to be taken foll...
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