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Department of Transportation recommending the Board approve and authorize the Chair to sign a Budget Transfer amending the Fiscal Year 2018-2019 Adopted Budget, decreasing Traffic Impact Mitigation (TIM) Highway 50 Contingency in the amount of $170,000 and increasing TIM Highway 50 Operating transfers out by $170,000 and increase operating transfers in to the road fund with a corresponding decrease in miscellaneous revenue in order to balance the fund. (4/5 vote required)
FUNDING: Traffic Impact Mitigation Fees.
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DISCUSSION / BACKGROUND:
In Fiscal Year (FY) 2017-18, project costs for the Department of Transportation (Transportation) Capital Improvement Plan (CIP) project 72361/36104007 "US 50 / Cameron Park Drive Interchange Improvements" totaled $219,927.23. Traffic Impact Mitigation (TIM) Hwy 50 fee funds are collected for Highway 50 projects such as this project. However, there were insufficient appropriations in the FY 2017-18 budget for TIM Hwy 50 to transfer this funding.
Due to this oversight, the majority of the FY 2017-18 costs were intended to be transferred to the Road Fund during FY 2018-19. The carryover of TIM Highway 50 costs from FY 2017-18 reduced the available appropriations for use in FY 2018-19.
In order to fund Highway 50 projects that incurred expenses in FY 2018-19, such as Project 71333, U.S. 50/Ponderosa Rd/So. Shingle Rd Interchange Improvements Project, and Project 72361, US 50 / Cameron Park Drive Interchange Improvements Project. Transportation requests an increase in the operating transfer out of the TIM Hwy 50 funds and a corresponding increase in to the Road Fund for Transportation Capital Improvement projects.
ALTERNATIVES:
Should the Board decline to approve and authorize this Budget Transfer Request, Transportation budgeted revenue and appropriations would not be sufficient to fund the Projects.
PRIOR BOARD ACTION:
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT:
N/A
CAO RECOMMENDATION:
It is recommended ...
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