 |
AGENDA ITEM REVIEW FORM |
6.B.
Regular City Council Meeting
- Meeting Date:
- 08/26/2020
- Department Head:
- Jenny Torres
- Submitted By:
- Jenny Torres, Economic Development Manager, Administration, Economic Development
Action Requested:
Motion
ITEM:
Discussion and possible action on any and all matters regarding authorization to increase the financial budget for Fiscal Year 2020-2021 necessary to spend remaining funds from the North American Development Bank Technical Assistance Grant awarded and accepted in Fiscal Year 2019-2020. (Jenny Torres, Economic Development Manager)
SUMMARY:
The City of San Luis received a technical assistance grant in the amount of $161,050.00 from the North American Development Bank (NADBANK) for a natural gas feasibility study. The contract was awarded to Berkeley Group, LLC in the amount of $178,894.00 on December 11, 2019. The City of San Luis provided a 10% match of $17,894.00. The contract ended on May 28, 2020. Due to COVID-19, the consultants did not receive the stakeholders' information required to complete the feasibility study. The City of San Luis extended the professional service agreement completion date to August 31, 2020.
The city paid its 10% match in the Fiscal Year 2020 budget. The remaining $97,544.00 of grant funds were not included in the Fiscal Year 2021 budget. Staff is requesting that the Council authorize an increase in the financial budget in department account 255-135-44000 and increase the expenditures in account 255-135-80000 to spend the funds of $97,544.00.
The city paid its 10% match in the Fiscal Year 2020 budget. The remaining $97,544.00 of grant funds were not included in the Fiscal Year 2021 budget. Staff is requesting that the Council authorize an increase in the financial budget in department account 255-135-44000 and increase the expenditures in account 255-135-80000 to spend the funds of $97,544.00.
RECOMMENDATION / SUGGESTED MOTION:
I MOVE TO APPROVE THE INCREASE IN BUDGET TO $97,544.00, AS PRESENTED.
Fiscal Impact
- IS THERE FISCAL IMPACT ASSOCIATED WITH THIS ITEM:
- YES
- CITY/STATE/FEDERAL FUNDS:
- YES
- TOTAL:
- $97,544.00
- BUDGETED AMOUNT:
- NO
- AVAILABLE AMOUNT TO TRANSFER:
- N/A
- ACCT NAME & GL#/REMAINING BALANCE BEFORE PURCHASE:
- 255-135-80000
FISCAL IMPACT STATEMENT (IF THIS IS A BUDGET TRANSFER, YOU MUST ATTACH THE BUDGET ADJUSTMENT FORM):
Total project will cost $178,894.00 North American Bank will provide $161,050.00 and the city $17,894.00. The city paid its 10% match in fiscal year 2019-2020 and the remaining grant funds pending to spend from this grant are $97,544.00. The request is to increase the budget for fiscal year 2020-2021 revenue account 255-135-440000 and increase expenditure account 255-135-80000 by $97,544.00