HomeMy WebLinkAbout1978-05-02; City Council; 3552-8; Transfer of funds, Magee House RestorationCITY OF CARLSBAD )L
Initial:
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AGENDA BILL NO. 3552 - Supplement No. 8
' s :*' DATE : May 2, 1978
DEPARTMENT: Parks and Recreation
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C. Attv.
C. Mgr. Rl
TRANSFER OF .FUNDS, MAGEE HOUSE RESTORATION I
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Statement of the Matter
The FY 1976-77 budget approved $57,902 for the restoratiofqi of
the Magee House. City Council Resolution No. 3951 approvkd Helton Construction Company as contractor with a bid of $73,356 and Resolution No. 3952 approved the transfer of $12,000 for the exclusive purpose of the Magee House restoration. During the cost estimate planning, the insurance was estimated to be $28,000 and only $24,500 was received. This resulted in a $3,500 deficit. The sewer lateral and connection cost of $264.50 was not included in the original cost estimate. Final costs are $73,620.50 and revenues are $69,902. The result is a deficit of approximately $3,800 to balance the project monies.
COSTS
$73,356.00 264.50 $73,620.50
REVENUES
$16,000.00
8,402.00
24,500.00
9,000.00 12,000.00 $69,902.00
Construction Bid
Sewer lateral and connection
Total
HCD Grant HCD Grant Insurance Park-In-Lieu Fund
General Fund
Total
($3,718.50) Deficit
Exhibit
Resolution No.x373- , authorizing the Transfer of Funds
Recommendation -. -
If Council approves, authorize the transfer of funds by adopting
Resolution No. ,rsyc
Council action
t
5-2-78 Resolution #5395 was adopted, authorizing transfer of funds to balance the Magee House Restoration Project Account.
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RESOLUTION NO. 5395
AE TION OF THE CITY COUNCIL OF TIE C TY OF
CARLSBAD, CALIFORNIA, AUTHORIZING THE TRANSFER OF FUNDS TO BALANCE THE NAGEE HOUSE RESTORATION PROJECT ACCOUNT
BE IT RESOLVED by the City Council of the City of Carlsbad
as follows:
1. That the transfer of three thousand eight hundred
dollars ($3,800) from Park-in-Lieu fees Area 1 to account
1-132-3910 to balance the Magee House Restoration Project account
is hereby authorized and approved.
2. That Department of Finance Fund Transfer No. 47 on
file in said department and incorporated by reference herein is
approved.
PASSED, APPROVED AND ADOPTED at a regular meeting of the
City Council on the 2nd day of . May 7 1975, by
the following vote, to wit:
AYES : Councilmen Packard, Skotnicki, Anear and
NOES: . . None Counci 1 woman Cas 1 er
ABSENT: . None
ATTEST :
pf&/F@f140 IA GlD -T E. ADAFS, City Cler
(seal)
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.* .... -. 4 .......... .......... .......... ,. . ...... .. _. -.. .. .. ......
TO Director of Finance:
Transfer
e
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From Park-in-Lieu$ 3,800 .. Area 1
CITY OF CAXSSAD
Trans fer T~ 1-132-3910 $3,800
Approved as
As Revised
City hlanagcr
Action Requested -
\
Referred to City
Manager for -
. Dept; of Finance
' Dept. of Fikance No.
.
- Action of
City Counc i 1 :
I- .
,. I 'Explanation:.
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. biaiee House Renovation Project. During the cost estimate planning, the
insurance was-estimated to be $28,000.and only $24,500 was received resulting in a deficit of $3,500. -The sewer lateral'and connection cost'of $264.50 was hot included in the original cost estimate. Final costs are $73,620.50 and revenues are $69,902 (HCD .$24,402, Insurance $24,500, Park-in-Lieu Fees $9,000, General Fund $12,000) resulting in a need for apprgximately $3,800
to balance the project moneys.
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Title /
City Kanager Xeport ... .. .. .. ..
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Send 2 copies to the Director of Fiunce ... Rctaifi" 1.