Regular 3.
Regular City Council Meeting
- Meeting Date:
- 01/22/2018
- TITLE
- Public Hearing and Resolution for FY18 Budget Amendments
- PRESENTED BY:
- Andy Zoeller
- Department:
- City Hall Administration
Presentation:
No
PROBLEM/ISSUE STATEMENT
Montana Code allows local governments to amend their fiscal year budget using the same method as that which is used for the original budget adoption. That is; public notice, public hearing, and Council adoption of the resolution. The proposed budget amendment for fiscal year 2018 is attached.
ALTERNATIVES ANALYZED
City Council may:
- Approve the proposed budget amendments; or,
- Not Approve the proposed budget amendments. Disapproval of these amendments may place the City in violation of State law.
FINANCIAL IMPACT
The proposed budget amendment amounts vary by fund. Each will be funded by operating revenues or reserves, as described within the budget resolution exhibit.
BACKGROUND
The following funds are requesting amendments to the budget:
Fund 4340 - Sidewalk Construction Fund
Public Works is requesting the budget authority in the FY 2018 budget for the cost of three sidewalk, curb, and gutter improvement projects. Sidewalk, curb, and gutters will be constructed as part of the Midland Road, Poet Streets, and Central Avenue projects. Similar to an SID, the improvements will be paid for by the sale of bonds and assessed back to the property owners benefiting from the improvements.
Funds 4500 - Special Improvement District Fund
Public Works is requesting the budget authority in the FY 2018 budget for the cost of two SID projects. The first project is for street light installation that is part of the EBURD street reconstruction project per the East Billings Urban Renewal District (EBURD) Master Plan. The street lights will be installed from North 10th Street to North 22nd Street and Montana Avenue to 6th Avenue North. The engineering contract for design of the EBURD infrastructure project was approved at the November 13, 2017 Council meeting. The construction of the street lights will be funded entirely by an SID which will be assessed to and paid for by property owners benefiting from the lights. The second project is for the construction of parks and street lights in Annafeld Subdivision which is located south of Elysian Road near Elysian School. This project will also be funded entirely by an SID.
Fund 4340 - Sidewalk Construction Fund
Public Works is requesting the budget authority in the FY 2018 budget for the cost of three sidewalk, curb, and gutter improvement projects. Sidewalk, curb, and gutters will be constructed as part of the Midland Road, Poet Streets, and Central Avenue projects. Similar to an SID, the improvements will be paid for by the sale of bonds and assessed back to the property owners benefiting from the improvements.
Funds 4500 - Special Improvement District Fund
Public Works is requesting the budget authority in the FY 2018 budget for the cost of two SID projects. The first project is for street light installation that is part of the EBURD street reconstruction project per the East Billings Urban Renewal District (EBURD) Master Plan. The street lights will be installed from North 10th Street to North 22nd Street and Montana Avenue to 6th Avenue North. The engineering contract for design of the EBURD infrastructure project was approved at the November 13, 2017 Council meeting. The construction of the street lights will be funded entirely by an SID which will be assessed to and paid for by property owners benefiting from the lights. The second project is for the construction of parks and street lights in Annafeld Subdivision which is located south of Elysian Road near Elysian School. This project will also be funded entirely by an SID.