Long Beach, CA
File #: 13-0252    Version: Name: BOC-R&F Upd. FY12 Bdgt Surplus
Type: Agenda Item Status: Approved
File created: 3/11/2013 In control: City Council
On agenda: 4/2/2013 Final action: 4/2/2013
Title: Recommendation of the Budget Oversight Committee to the City Council that $5.4 million of the FY11 carryover ($1 million) and FY12 Uplands Oil ($4.4 million) surplus be appropriated as follows: 1) $1.6 million to residential street repaving funding for this Fiscal year; 2) $1 million to sidewalk repair funding, increasing the fund from $3 million to $4 million; 3) $1 million to slurry seal funding, increasing the fund from $2 million to $3 million; and 4) $1.8 million in additional Council office infrastructure funds targeted towards Parks, Recreation and Marine CIP and maintenance projects.
Sponsors: COUNCILMEMBER GARY DELONG, THIRD DISTRICT, Budget Oversight Committee
Indexes: Budget
Attachments: 1. 031813.boc.att7.pdf, 2. 040213-R-16sr.pdf
TITLE
Recommendation of the Budget Oversight Committee to the City Council that $5.4 million of the FY11 carryover ($1 million) and FY12 Uplands Oil ($4.4 million) surplus be appropriated as follows:
 
1) $1.6 million to residential street repaving funding for this Fiscal year;
 
2) $1 million to sidewalk repair funding, increasing the fund from $3 million to $4 million;
 
3) $1 million to slurry seal funding, increasing the fund from $2 million to $3 million; and
 
4) $1.8 million in additional Council office infrastructure funds targeted towards Parks, Recreation and Marine CIP and maintenance projects.
 
DISCUSSION
On Monday, March 18, 2013, the Budget Oversight Committee met to discuss a variety of items. One of the agenda items was to discuss investing a portion of the full FY11 carryover and FY12 Uplands Oil Surplus in one-time infrastructure projects.
 
FISCAL IMPACT
Appropriate $5.4 million of available funds to one-time infrastructure projects.
 
SUGGESTED ACTION
Approve recommendation.
 
Respectfully Submitted,
GARY DELONG
COUNCILMEMBER, CHAIR,
BUDGET OVERSIGHT COMMITTEE