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