Title
Department of Transportation recommending the Board approve and authorize the Chair to sign a budget transfer request for six County Service Area 9 Zones of Benefit to reallocate funds from contingency to road maintenance projects completed or contemplated during Fiscal Year 2019/2020, as well as correct two budgeted fund balance designations. (4/5 vote required)
FUNDING: County Service Area 9 Zone of Benefit Special Taxes and Assessments.
Body
DISCUSSION / BACKGROUND
The Department of Transportation’s (Transportation) County Service Area Zone of Benefit (ZOB) Program is established as a method to finance and provide needed public facilities and services to residents and property owners within these areas. The following budget transfers from each ZOB budget are needed in order to appropriate funds and pay for completed or contemplated road maintenance projects during Fiscal Year (FY) 2019/2020. These budget transfers are within each zone’s existing available funds and do not involve any retroactive work or contracts:
1) $42,000 from contingency for Carlson Drive ZOB Zn 15 (3291836);
2) $5,400 from contingency for Lynx Trail ZOB Zn 30 (3591845);
3) $6,800 from contingency for West Green Springs ZOB Zn 37 (3591848);
4) $3,000 from contingency for Maverick ZOB Zn 88 (3591858);
5) $15,000 from contingency for Tegra ZOB Zn 23 (3591839); and
6) $10,000 from contingency for Fernwood Cothrin Ranch ZOB Zn 14 (3591835).
ALTERNATIVES
The Board could choose not to transfer the available funds from each ZOB budget; however, this would result in contractors not receiving payment for completed work and alternative methods to fund road work would need to be identified.
PRIOR BOARD ACTION
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION / COMMENTS
It is recommended that the Board approve this item.
FINANCIAL IMPACT
Approval of this item would reallocate ZOB contingencies by $82,200 for the listed zones in the current FY 2019/2020 budget. The...
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