Title
Approval of an Amendment to Ordinance 7154 (Capital Budget)
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve the ordinance that amends Ordinance 7154 on second reading.
Report
Issue:
Whether to amend Ordinance 7154 on second reading.
Staff Contact:
Bill Sampson, Accounting Services Manager, Administrative Services, 360.753.8473
Presenter(s):
None - Consent Calendar item
Background and Analysis:
Background and analysis has not changed from first reading to second reading.
City Council may revise the City’s capital budget by approving an ordinance. Generally, budget amendments are presented quarterly to Council for their review and approval but may be made at any time during the year. The amended ordinance appropriates funds and provides authorization to expend the funds.
1. Public Works
§ Drinking Water Capital Fund - Seismic Upgrades to Reservoirs
§ Appropriation: $3,030,000 for seismic upgrades to the Elliott Reservoir and Fir St. reservoir.
§ Funding: Public Works Trust Fund Loan.
2. Public Works
§ Stormwater Capital Fund - General Projects
§ Appropriation: $42,140 for general projects in the Stormwater Capital Fund.
§ Funding: Proceeds from settlement of a claim.
3. Parks, Arts and Recreation
§ Home Fund Capital Fund - Martin Way Land Purchase
§ Appropriation: $1,350,735 for purchase of Martin Way property previously authorized with approval of Interfund loan.
§ Funding: General Fund Interfund loan.
4. Parks, Arts and Recreation
§ Capital Improvement Project Fund - Stevens Field Project
§ Appropriation: Reduce appropriations of $397 for unused funds. This is the result of the Stevens Field Project being completed.
§ Funding: Transfer remaining funds to Parks capital projects for use on future projects.
5. Parks, Arts and Recreation
§ Capital Improvement Project Fund - Parks Percival Landing Railing
§ Appropriation: $800 for railing at Percival Landing.
§ Funding: Private donation proceeds.
6. Parks, Arts and Recreation
§ Capital Improvement Project Fund - Percival Landing Project
§ Appropriation: $921,500 for Percival Landing project.
§ Funding: Grant from WA State Department of Commerce.
7. Parks, Arts and Recreation
§ Parks and Recreational Sidewalk Fund - Percival Landing Bulkhead Project.
§ Appropriation: $225,000 transfer to Capital Improvement Fund for Percival Landing Bulkhead Project from the Parks and Recreational Sidewalk Fund for the Percival
§ Funding: Funding provided by fund balance in the Parks and Recreational Sidewalk Fund.
The appropriation for the bulkhead project was part of the third quarter budget amendment approved by City Council. However, the ordinance only recognized the expenditure but did not recognize the revenue being transferred out of the Parks and Recreation Sidewalk fund.
8. Community Planning & Development
§ Home Fund Capital Fund - Purchase of 2828 Martin Way
§ Appropriation: $4053 interest on interfund loan for property acquisition and $1 additional for actual property purchase
§ Funding: Recognize unanticipated Home Fund sales tax revenue
Neighborhood/Community Interests (if known):
None known.
Options:
1) Approve the ordinance amending Ordinance 7154. This allows staff to continue capital projects, complete seismic upgrades to reservoirs and return unused funds to be used on future projects.
2) Do not approve the amending ordinance. This would stop certain projects.
Financial Impact:
Total increase in appropriations is $5,573,832. The sources of funding are from grants, a General Fund Interfund loan, and private donations.
Attachments:
Ordinance