Item:
Title
Capital Project Amendment No. 20CPA000011 and Budget Amendment No. 21BCC000035 Reducing EMS Station 1 Renovation Project and Transferring Funds to the Debt Service Fund and Appropriating Capital Financing Plan Fund Fund Balance to the General Fund to Support the Temporary Lease of Space Needed During Renovation
Body
Date of BOCC Meeting: October 12, 2020
Request for Board Action:
Agenda Text
The Board is hereby requested to approve Capital Project Amendment No. 20CPA000011 reducing the EMS Station 1 Renovation Project (44103100DC132) budget by $42,344.75, Budget Amendment No. 21BCC000035 transferring these funds to the Debt Service Fund, and appropriating Capital Financing Plan Fund fund balance and transferring to the General Fund to support the temporary lease of space during renovation ($21,063).
Per a recent review with Durham County Chief Finance Officer and General Bond Counsel it was determined that lease payments should be made from annual operating funds and not Capital Projects. Due to this directive:
• The Project for EMS #1 Renovation is being reduced by the amount of lease payments in the budget ($42,344.75) which are FY 2019-20 ($21,282.50) and FY 2020-21 ($21,063.25)
|
Project Name |
Project # |
Current Budget |
Increase/ (Decrease) |
Revised Budget |
|
EMS Station #1 Renovations |
44103100DC132 |
$5,029,029 |
($42,344.75) |
$4,986,684.25 |
• The $42,344.75 in project funds were to be funded through Limited Obligation Bonds (2016 issuance) and will be transferred to the Debt Service Fund for use on future projects or LOBs debt service.
• The expenses for FY 2019-20 have been re-posted to the EMS Business Area in the General Fund using existing funds.
• Capital Financing Plan Fund fund balance of $21,063 is being appropriated and transferred to the General Fund (Office of Emergency Services Business Area) to cover the rent payments for FY 2020-21.
Alignment with Strategic Plan: This project aligns with Goal 5 by providing more efficient service delivery and better customer service through the expansion of the parking lot at this location.
Resource Persons: Peri Manns, ASLA, Deputy Director or Engineering & Environmental Services; Susan Tezai, Chief Finance Officer; Keith Lane, Director of Budget and Management Services
County Manager’s Recommendation: The County Manager recommends that the Board approve Capital Project Amendment No. 20CPA000011 reducing the EMS Station 1 Renovation Project (44103100DC132) budget by $42,344.75, Budget Amendment No. 21BCC000035 transferring these funds to the Debt Service fund, and appropriating Capital Financing Plan Fund fund balance and transferring to the General Fund to support the temporary lease of space during renovation ($21,062.25).
Signature County Manager: ____________________________