Submitted By
Bill McKenna, Village Engineer
Reviewed By
A.M. Zayyad, Deputy Village Manager
Agenda Item Title
Title
An Ordinance Amending the Fiscal Year 2023 Annual Budget
End
Overview
Overview
In order to not delay construction, all $618,564 of Community Development Block Grant (CDBG) funds are proposed to be removed from the 23-2 Resurfacing of Various Streets project which is bidding this spring, and the previously awarded 22-8 Forest and Ontario Traffic Calming and Landscaping Improvement project due to timelines associated with federally required environmental reviews being required by HUD. There are available CIP funds to offset these CDBG funds from saving in the CIP Fleet fund for a fire engine that cannot be purchased this year due to long lead times. This Budget Amendment is being requested in order to transfer the $619,000 of Capital Improvement (CIP) Funds for the purchase of the fire engine to the CIP resurfacing account to offset the loss in CDBG funds for these projects. An ordinance is hereby presented to modify selected appropriations in the FY23 Adopted Budget.
End
Recommendation
Recommendation
Adopt the Ordinance.
Background
The annual budget provides a ceiling on spending by account, department, and Fund. While every effort is made during the budget process to accurately forecast spending, there are times when a budget amendment is needed such as in the following circumstances:
During an annual audit by the U.S. Department of Housing and Urban Development (HUD) notified the Village that environmental reviews were not being properly done for the 23-2 Resurfacing of Various Streets project which is bidding this spring and the previously awarded 22-8 Forest and Ontario Traffic Calming and Landscaping Improvement project which are both utilizing CDBG funds. In order to proceed with these projects and use CDBG funds an environmental assessment process would need to be undertaken. The environmental assessment process will take a...
Click here for full text