Submitted By
Steve Drazner, CFO and Bill McKenna, Village Engineer
Reviewed By
LKS
Agenda Item Title
Title
Resolutions Retroactively Authorizing the Use of Motor Fuel Tax Funds in the Aggregate Amount of $3,091,828.68 for Eligible Local Street Improvements in the Village of Oak Park for Fiscal Years 2007, 2009, 2010, 2011, and 2013
End
Overview
Overview
Per an internal review by the Bureau of Local Roads and Streets division of the Illinois Department of Transporation (IDOT), certain public works forestry expenditures submitted by the Village for the use of MFT Funds dating back to calendar year 2007 have been determined as ineligible. Staff was unaware that only certain emergency forestry related projects are eligible and not routine forestry maintenance. As such, the IDOT has been working with Village to find adequate substitutes for previously incurred expenses which can be retroactively submitted to offset the ineligible expenditures.
End
Recommendation
Recommendation
Approve the Resolution.
Fiscal Impact
No adverse financial impact is expected if the attached Resolutions are approved.
Background
In order to offset previously submitted forestry expenditures deemed ineligible for using MFT Funds, the IDOT Local Roads and Streets Division has been working with Village to determine previously incurred substitute expenditures dating back to calendar year 2007 which may be used.
A summary of the eight Resolutions is included with this agenda item. In aggregate, the eight Resolutions will substitute a total of $3,091,828.68 in various street improvement projects (eligible for MFT Funds) to offset this same amount previously submitted to IDOT for ineligible Public Works forestry expenditures.
The adoption of these Resolutions will have no affect on the Village's accounting or financial balances and will only be used by the Illinois Department of Revenue to clear findings discovered during their recent review of Village MFT records.
Fina...
Click here for full text