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TOTAL BUDGET AMENDMENT: $144,732,503
Includes:
1. Carryover Requests funded by Application of Unassigned Cash and/or offsetting Grant Revenue- $144,631,144
Included in this amount are numerous projects that have offsetting grant revenue: the Madison Internal Rehab project ($408,884), the Safe Routes to Schools project ($193,640), the 2013 Sanitary Sewer Main Replacement project ($194,250), the Gillette Madison Pipeline project ($113,248,768), the District Extensions project ($8,582,709) and carryover funding from the County and the YES House for construction of the Girls' Cottage ($1,906,800).
2. New/Additional Funding Requests funded by Application of Unassigned Cash and/or offsetting Grant Revenue - $101,359
Included in this amount are requests with offsetting Grant Revenue or Designated Funds: CCCPRD Grant for GPA filming ($11,000), Gillette Broadband Study ($85,000), and replacement K-9s ($28,500 - Designated Funds).
This is the first budget amendment to the FY2014/2015 approved budget and has been scheduled for Council consideration at the October 7, 2014 meeting. Following is a summary of the budget amendment categories:
1. Carryover Requests funded by Application of Unassigned Cash and/or offsetting Grant Revenue: As illustrated above, 99.9% of the entire amendment relates to FY13/14 carryover items. Additionally, there is offsetting Grant Revenue totaling $124,535,051 for the six projects listed above. This category primarily represents projects approved in the FY13/14 budget that, for various reasons, were not completed by the City's June 30, 2014 fiscal year end. Since budgeted expenditure authority lapses at the end of the fiscal year, the funding needed to complete the projects needs to be re-appropriated in the FY14/15 budget. This represents the same process the City followed the previous four years. Recognizing these costs through a budget amendment allows for a more accurate assessment of funds needed to complete the projects and adds value to annual budget appropriation comparisons.
2. New/Additional Funding Requests funded by Application of Unassigned Cash and/or offsetting Grant Revenue: The proposed budget amendment includes requests not previously budgeted for Administration, Special Projects, Police, and Planning totaling $96,776. The funding for these projects would come from cash reserves established through prior year savings realized in other projects. The requests in this category include $16,976 for the Gillette Avenue Re-Opening Concert; $38,500 for the City Hall First Floor Remodel; $4,000 for Bullet Proof Vests; and $37,300 for City Action Plats. This category also includes $11,000 for GPA to film CCSD events (offset by CCCPRD Grant); $28,500 for three replacement K-9s (offset by Designated Funds); $5,000 for new Police bicycles, equipment and uniforms (offset by Wal-Mart Grant); $3,500 for the Special Events Committee (offset by Designated Funds); and $85,000 for the Gillette Broadband Study (offset by WBC Grant). Additionally, this category includes budget adjustments for the Fire Board and Land Board totaling a reduction of $128,417 based on the County's final approved budget.
This budget amendment will result in the following Applications of Unassigned Cash:
General Fund: $4,747,910
1% Fund: $13,921,122
Utilities Admin Fund: $328,025
Water Fund: $203,084
Power Fund: $237,987
Sewer Fund: $166,324
Vehicle Replacement Fund: $460,000
A detailed itemization of the budget amendment requests is attached. All requests included for your consideration have been reviewed and recommended for approval by the Finance Department and Administration.
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