Project Cost Adjustments and Deferrals / Accelerations to the Parks, Forestry and Recreation 2019 Capital Budget and 2020-2028 Capital Plan (Third Quarter)

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The decision

2019-09-06 · Budget Committee · adopted

As filed

The Budget Committee recommends to the Executive Committee that: 1. City Council authorize the deferral and acceleration of projects in Parks, Forestry and Recreation's 2019 Council Approved Capital Budget and future year commitments in the amount of $10.811 million, as included in Appendix 1 to the report (August 19, 2019) from the General Manager, Parks, Forestry and Recreation, with no debt impact. 2. City Council

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authorize amendments to increase project costs and cash flows within the Parks, Forestry and Recreation's 2019 Council Approved Capital Budget and future year commitments in the amount of $2.143 million, as included in Appendix 2 to the report (August 19, 2019) from the General Manager, Parks, Forestry and Recreation, with no debt impact.

On the agenda

As the city filed it

The purpose of this report is to request authority from City Council to amend the 2019 Council-Approved Capital Budget and 2020-2028 Capital Plan for Parks, Forestry and Recreation by adjusting project costs and cash flows contained within the 10-Year Capital Plan. These adjustments will align cash flows for capital project delivery schedules and program requirements and as a result, will have no impact to the timing of debt requirements.

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Reallocations to cash flows and project costs are also requested where recent project bids exceed the current approved cash flow or alternatively to advance projects into 2019 that are ready to proceed.

Staff recommended

The General Manager, Parks, Forestry and Recreation recommends that: 1. City Council authorize the deferral and acceleration of projects in Parks, Forestry and Recreation's 2019 Council Approved Capital Budget and future year commitments in the amount of $10.811 million, as included in Appendix 1 to this report, with no debt impact. 2. City Council authorize amendments to increase project costs and cash flows within the

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Parks, Forestry and Recreation's 2019 Council Approved Capital Budget and future year commitments in the amount of $2.143 million, as included in Appendix 2 to this report, with no debt impact.

On the record

The item as the City filed it

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