REPORT TO COUNCIL
SUBJECT
Title
Approve Budget Modification No. 40 in the amount of $108,329 to Appropriate Funding from Fund 285 (Transportation Development Act) to Fund 385 (Capital Projects)
Report
BACKGROUND
On March 28, 2017, Council awarded a contract for the construction of Green Pavement Markings and Rectangular Rapid Flashing Beacons (RRFB) System Installation (RTC No. 17-0142). These two projects are funded primarily through the Transportation Development Act (TDA) Article 3, a source of funding created by State legislation and processed through the Santa Clara Valley Transportation Authority (VTA) and Metropolitan Transportation Commission (MTC).
In FY 2015/16, the City received the above referenced funding, two grant allocations totaling $108,329, from MTC for the two projects and the funds were recognized in the Transportation Development Act (TDA) Fund (Fund 285) during the FY 2016/17 budget process. The appropriation of the funding from the Capital Project Fund (Fund 385) to Projects 832170 and 832180 for Green Pavement Marking and Rectangular Rapid Flashing Beacons (RRFB) System Installation was reflected in the FY 2016/17 Budget presented to Council. Inadvertently, staff did not include the transfer of the funds from the TDA Fund (Fund 285) to the Capital Project Fund (Fund 385) in the FY 2016/17 Budget.
To correct this oversight, it is necessary for Council to now authorize a transfer appropriation of $108,329 from the TDA Fund (Fund 285) to the Capital Project Fund (Fund 385).
EXISTING POLICY
Pursuant to Sunnyvale Charter Section 1305, at any meeting after the adoption of the budget, the City Council may amend or supplement the budget by motion adopted by affirmative votes of at least four members so as to authorize the transfer of unused balances appropriated for one purpose to another, or to appropriate available revenue not included in the budget.
ENVIRONMENTAL REVIEW
When the Project was approved on March 28, 2017, it was found to ...
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