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6 <br /> THE CITY OF CITY COUNCIL AGENDA REPORT v <br /> pL£ASANTONo <br /> February 16, 2010 <br /> Finance Department <br /> TITLE: ADOPT A RESOLUTION TO ACCEPT THE FISCAL YEAR 2008 -09 <br /> YEAR -END FINANCIAL REPORT OF THE CAPITAL IMPROVEMENT <br /> PROGRAM (CIP) BUDGET AND AMEND THE FISCAL YEAR 2008 -09 <br /> CIP BUDGET <br /> SUMMARY <br /> This report describes the results of the 2008 -09 fiscal year for the Capital Improvement <br /> Program (CIP) Budget. <br /> RECOMMENDATION <br /> Staff recommends that Council adopt the attached resolution to take the following <br /> actions: <br /> 1. Amend the 2008 -09 Capital Improvement Program (CIP) as detailed in Appendix <br /> A (Recommended Quarter 4 Amendments). The italicized items in Appendix A <br /> have already been approved by Council during the quarter. Staff recommends <br /> that Council approve the non italicized items. Those items have a net increase in <br /> revenues of $40,071 and a net increase in expenditures of $72,814. <br /> 2. Approve the Capital Improvement Program budget carryovers to 2009 -10 <br /> detailed in Appendix D. <br /> 3. Accept the year -end report as summarized in Appendix E. <br /> FINANCIAL STATEMENT <br /> The recommended actions will facilitate the completion of budgeted projects. <br /> There is no significant fiscal impact beyond what has already been approved by <br /> the City Council when the CIP budget was adopted and previously amended. As <br /> was noted with the adoption of the CIP, there will be future maintenance costs <br /> associated with the construction of the additional /expanded facilities and <br /> infrastructure included, as outlined in the original Capital Improvement Program <br /> documents. The details of the fiscal impact of Council adopting staff recommendations <br /> will be described in this report and in the appendices. <br />