Label
Capital Improvement and Road Improvement Budget-Amended
Finance
Title
Approving the Capital Improvement Budget and Road Improvement Budget for the years 2021 - 2025; authorizing the appropriation of $12,785,057 for capital projects; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The Capital Improvement Program (CIP) Budget for the years 2021-2025 is being presented to City Council. Additionally, the proposed Road Improvement Fund budget is presented to authorize new project expenditures for roadway improvements in 2021, as a result of the new 1/4% income tax. This Ordinance approves the 2021-2025 CIP Budget and Road Improvements budget and appropriates funding for the 2021 projects listed on Exhibit C. Further Council action will be required for expenditure authority.
The fiscal impact of this ordinance is:
- The total amount of funds requested: $12,785,057
- The expenditure budget line item: CIP Fund 5040
- New revenue generated (operational revenue, grants, if any): none
- Revenue budget line item (if any): none
- Are funds budgeted in the current fiscal year (yes/no)?:this establishes the project budgets for 2020
- Is this a capital project (yes/no)? yes
- If yes, is it new or existing (new/existing)? new
- What section of the City's Strategic Plan does this support:
o Excellence in Basic Services (yes/no) yes
o Quality Community Investment (Livable City, Development) (yes/no) yes
o Workplace Culture & Customer Service (yes/no) yes
o Environment (yes/no) yes
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Capital Improvement Budget and Road Improvement Budget for 2021-2025 is approved, and the appropriate steps to properly control the appropriation of funds for the plan through the financial accounting information system are approved.
SECTION 2. That all transfers, closeouts, and accounting adjustments necessary to properly record the transactions anticipated by this Ordin...
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