Title
Resolution approving 2019 Engineering Department Fund Transfers
Body
WHEREAS, the City of West Allis is in the process of closing its 2019 fiscal year; and
WHEREAS, certain accounting transactions need to be completed in advance of closing out the year; and,
WHEREAS, the 32% increase in bid prices received due to inflationary pressures, and the switch to outsourcing of street lighting work to contractors at a cost of $525,702, and the unforeseen underground conditions encountered on several projects precipitated the expected $788,764 increase in street paving costs and $363,506 increase in water utility costs for the 2019 construction season over the budgeted amounts; and,
WHEREAS, staff is recommending approval to utilize available Capital Project Fund, Fund Balance to pay for the amounts that need to be paid over the budgeted amount for 2019 Capital Projects.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that the fund transfers be and hereby are approved.
BE IT FURTHER RESOLVED that the Finance Director is authorized and directed to complete such transfers.