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BACKGROUND <br />On June 20, 2006, the City Council awarded the construction contract for the subject <br />project to the lowest bidder, Valley Slurry Seal Company, in the amount of $128,660.83. <br />The subject project has since been completed and is ready for acceptance. <br />Approximately 700,000 square feet from the following twenty-three (23) City street <br />sections were slurry sealed: <br />BUDGET <br />The final project funding and expenditures are presented below. The project was <br />authorized in the FY 2005/2006 CIP budget. The one change order for the project was <br />due to a quantity increase for thermoplastic striping. <br />Funding <br />CIP No. 055004 (General Fund) <br />CIP No. 055003 (Tri-Valley Transportation) <br />Total Funding: <br />Expenditures <br />Construction Bid <br />Change Order <br />Total Expenditures: <br />$140,000.00 <br />5 000.00 <br />$145,000.00 <br />$128,660.83 <br />$788.51 <br />$129,449.34 <br />Page 2 of 3 <br />