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AUTHORIZE THE T1L'-kNSFER OF $301,451.80 FROM THE EQUIPMENT <br />REVOLVING FUND TO THE PUBLIC FACILITIES FUND FOR THE CITY <br />HALL REMODELING PROJECT <br /> By: Diana Lund, Finance Officer <br /> <br />Background: <br /> <br />At the March 26, 2002, City Council meeting, staff was authorized to enter into a contract <br />with E & V Construction Managers and BKV Group for the City Hall remodeling <br />project. <br /> <br />Funding fbr the project is to be obtained from the accumulated depreciated monies <br />currently held in the Equipment Revolving Fund. The total accumulated at year ending <br />December 31,200 l, was $301,451.80. <br /> <br />To better track total project costs, it would be beneficial to transfer the $301,451.80 to tine <br />Public Facilities Construction Fund. This fund had been used to record all costs <br />associated with the construction of the Police Department and Public Works <br />improvements. <br /> <br />Any funds remaining at the end of the remodeling project would be returned to the <br />Equipment Revolving Fund. <br /> <br />Staft Recommendation: <br /> <br />Adopt Resolution #02-05-XXX transferring $301,451.80 from the Equipment Revolving <br />Fund to the Public Facilities Construction Fund for the City Hall remodeling project; with <br />excess fi. mds remaining at the end of the project to be returned to the Equipment <br />Revolving Fund. <br /> <br /> <br />