HomeMy WebLinkAboutItem MAGENDA REPORT� 0/y Qv
DATE: May 13, 2002
TO: Honorable Mayor and City Council
THRU: John B. Bahorski, City Manager
FROM: Doug Dancs P.E. Director of Public Works /City Engineer
SUBJECT: Budget Amendments k��Y
SUMMARY OF REOUEST:
Staff requests City Council approve the additional structural work for the CAL -Air
mechanical retrofit and energy management project and approve additional financing
with budget Amendment No. 02 -26.
BACKGROUND:
The Engineering Department is requesting a resolution authorizing revising the lease with
option to purchase with Municipal Finance Corporation (the Corporation) for additional
structural work for the Cal -Air mechanical retrofit and energy management project (the
project). The amount of financing for the additional structural work is $30,783. Total
financing for the Cal -Air project will be $1,091,955. Annual lease payment to Municipal
Finance Corporation will increase $3,395 making the total annual payment $22,062.
FISCAL IMPACT:
The additional cost of this structural repair due to the installation of new Heating and Air
Conditioning equipment will be pro -rated over a period of twelve years at a fixed annual
cost of $3,395. The current undesignated fund balance is $3,380,026. The increase in
expenditures will decrease the General fund undesignated fund balance to $3,376,631.
Staff recommends Council approve a resolution to do the additional structural work for
the installation of the new heating and air conditioning equipment. Staff also
recommends Council adopt budget Amendment No. 02 -26 increasing annual lease
payments.
Agenda Item
Prepared by:
eor a R. Bernard
Public Works Assistant
Reviewed by:
04i YL
Mark r. Vukovejic
Assistant City Engineer
Noted and Approved by:
hn B. Baborski
City Manager
Rev'
oug as A. s, P.E.
Director Public Works/City Engineer