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THE CITY OF <br />-~ °~ -- ~"' CITY COUNCIL AGENDA REPORT <br />[~L£~S~4NTONe <br />February 6, 2007 <br />Finance Department <br />TITLE: ADOPT A RESOLUTION TO ACCEPT THE FISCAL YEAR 2005-06 <br />YEAR-END FINANCIAL REPORT OF THE CAPITAL IMPROVEMENT <br />PROGRAM (CIP) BUDGET AND AMEND THE FISCAL YEAR 2005-06 <br />CIP BUDGET <br />SUMMARY <br />This report describes the results of the 2005-06 fiscal year for the Capital Improvement <br />Program (CIP) Budget. <br />RECOMMENDATION <br />Approve resolution to accept the fiscal year 2005-06 year-end financial report of the <br />Capital Improvement Program (CIP) Budget and amend the fiscal year 2005-06 CIP <br />Budget. <br />FINANCIAL STATEMENT <br />The recommended actions will facilitate the completion of budgeted projects. There is <br />no significant fiscal impact beyond what has already been approved by the City Council <br />when the CIP Budget was adopted and previously amended. As was noted with the <br />adoption of the CIP, there will be future maintenance costs associated with the <br />construction of the additional/expanded facilities and infrastructure included, as outlined <br />in the original Capital Improvement Program documents. The details of the fiscal <br />impact of Council adopting staff recommendations will be described in this report and in <br />the appendices. <br />