Title
Department of Transportation recommending the Board approve and authorize the Chair to sign a budget transfer request for County Service Area 9 Walnut Drive Zone of Benefit 98124 to reallocate funds from Contingency to fund road maintenance during Fiscal Year 2023-24. (4/5 vote required)
FUNDING: Walnut Drive Zone of Benefit Special Fees/Service Charges. (100%)
Body
DISCUSSION / BACKGROUND
The Department of Transportation's (Transportation) County Service Area Zone of Benefit Program was established as a method to finance and provide needed public facilities and services to residents and property owners within these areas. The following budget transfer is necessary for County Service Area 9 Walnut Drive Zone of Benefit #98124 (Zone) to appropriate funds and pay road maintenance costs during Fiscal Year (FY) 2023-24. Staff believed FY 2022-23 roll-over funds would be included in Road Maintenance in the Adopted Budget process for FY 2023-24; however, it was rolled over into Contingency. This budget transfer is transferring funding from Contingency to Road Maintenance and is within the Zone's existing available funds.
In order for the Zone to pay for invoices incurred during this budget year, the following budget amendment is needed:
Budgeted appropriations need to be increased in Road Maintenance & Construction by $14,223, offset by a decrease to Appropriation for Contingency in the amount of $14,223.
ALTERNATIVES
The Board could choose not to approve the budget transfer; however, this would result in contractors not receiving timely payments for completed work, and alternative methods to fund the work would need to be identified.
PRIOR BOARD ACTION
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
Chief Administrative Office, Community Development and Finance Administration Division
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
This item has no impact to Net County Costs. Budgeted appropriations need to be increased in Road Mai...
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