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BUDGET <br /> <br />The final project budget and expenditures summary is presented as follows: <br /> <br />Funding <br />Second Street Reconstruction CIP No. 005015 $1,256,000 <br />Kottinger-First St. UDD 02-01 CIP No. 025071 $350,000 <br />Kottinger Storm Drain CIP NO. 978057 $706,922 <br />Reimbursement funds from utility companies for prior work $131,875 <br />(First Street Bridge CIP No. 955029, underground utility <br />district) <br /> <br />Total Approved Funding $2,444,797 <br /> <br />Expenditures <br />Original Construction Contract $1,287,822 <br />Construction Change Orders (36) $262,483 <br />Engineering $88,425 <br />Preliminary and Construction Surveying Services $50,688 <br />Geotechnical Services $47,031 <br />Miscellaneous Expenses (reproduction, preparation of <br />exhibits for neighborhood meetings, and exploratory <br />pot holing) $6,852 <br />TOTAL $1,743,301 <br /> <br /> Approved Funding $2,444,797 <br /> Project Fund Surplus $701,496 <br /> <br /> The subject project bad an authorized construction contingency amount of $193,173 (15%) of <br /> the construction contract. The expended contingency amount of $262,483 represented an <br /> approximate contingency amount of 20 %. The increased costs were attributed to unforeseen <br /> field conditions. Included in the additional cost was the excavation and removal of unsuitable <br /> subsurface soil materials and the replacement with recycled asphaltic materials. <br /> <br /> The surplus of $701,496 for the 48-inch storm drain line on Kottinger Drive (original budget <br /> $706,922) between First Street and Saint Mary's Creek, was reallocated back into the General <br /> Fund as part of the mid-year budget process. As previously stated, recent hydraulic <br /> information and studies support the elimination of the storm drain project. <br /> <br /> SR:05:226 <br /> Page 3 of 4 <br /> <br /> <br />