Request for Budget Adjustment for Water Utility Miscellaneous Repair Fund
Each year, as part of its Capital Budget, the Water Utility is allocated $250,000 for miscellaneous and unplanned repairs and improvements to the water production, transmission and distribution system.
If FY 2019, this fund spend approximately $37,000, leaving $213,000 to revert back to the fund balance. In FY 2020, this budget line item is very close to being depleted, due to a number of unforeseen repairs and improvements needed for the distribution system.
In order to assure that the City can respond to any issues that may develop between now and the end of this fiscal year, Staff requests a budget adjustment from fund balance of $100,000 for the remainder of this fiscal year. If no additional funds are required, this money will revert back to fund balance at the end of June.
Staff recommends approval of a budget adjustment of $100,000 from the Water Enterprise Fund balance to Misc MnR Fund line item in the FY20 ICIP Budget.
- Fiscal Impact:
- $100,000 budget adjustment to expenditures from Water Enterprise Fund balance.
- Please see above.
- Speaker's Name
- Dennis Romero