TITLE
Recommendation to decrease appropriations in the Transportation Fund (SR 182) in the Department of Public Works (PW) by $3 million; and increase appropriations in the Capital Projects Fund (CP 201) in the Department of Public Works (PW) by $3 million. (Districts 4,5,6,7,8,9)
DISCUSSION
On August 19, 2008, City Council approved a request for an appropriation increase in the Transportation Fund (SR 182) to accept $3 million under the Traffic Light Synchronization Program (TLSP) of Proposition 1 B. Due to an oversight, the incorrect fund was listed for the appropriation. Because the TLSP funding is being received as a grant, the funds should have been appropriated to the Capital Projects Fund (CP).
This matter was reviewed by Deputy City Attorney Linda Trang on August 27, 2008 and by Budget Management Officer Victoria Bell on August 28, 2008.
TIMING CONSIDERATIONS
City Council action on this item is requested on September 16, 2008, to allow posting of the transaction to the correct fund.
FISCAL IMPACT
This request will decrease appropriations in the Transportation Fund (SR 182) in the Department of Public Works by $3 million and increase appropriations in the Capital Projects Fund (CP) in the Department of Public Works by $3 million. There is no net fiscal impact.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
MICHAEL P. CONWAY |
APPROVED: |
DIRECTOR OF PUBLIC WORKS |
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PATRICK H. WEST |
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CITY MANAGER |