Okaloosa County BOCC — March 1, 2016 — Transfer Funding within Budget 3202 — agenda request

BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: March 1, 2016 TO: Honorable Chairman and Members of the Board FROM: Jason Autrey SUBJECT: Transfer Funding within Budget 3202 DEPARTMENT: Public Works BCC DISTRICT: ALL STATEMENT OF ISSUE: Request approval of funding transfers within the 3202 capital budget due to revenue shortfalls and the potential for alternate funding sources for the Okaloosa Lane Bridge project through the Restore Act. BACKGROUND: Due to revenue shortfalls in the gas tax and the potential to receive alternative funding from the Okaloosa Restore Act for the Okaloosa Lane Bridge project, staff is requesting the transfer of monies. In general, the request is to transfer funds from the currently budgeted Okaloosa Lane Bridge project to the "Other Improvements" account to cover costs for work proposed and approved as part of the FY16 budget year. The transfer of funds will allow for execution of cold-mix rehabilitation projects, striping improvements and overages associated with the recently completed improvements along Robinson Road. Transferring funds from the Pipe Lining and Okaloosa Lane Bridge accounts can be offset by utilizing available stormwater and Restore monies to perform the work originally planned. The requested budget transfers include: Deductions: 3202-563487 (Okaloosa Lane Bridge) - $250,000. Funding replaced with Restore award. 3202-546648 (Pipe Lining) - $50,000. Work to be performed with stormwater funds. Additions: 3202-563490 (Other Improvements) + $200,000 / Shortfall in revenue 3202-546646 (Striping) + $30,000 3202-563165 (Robinson Road) + $70,000 / Direct cost of limestone base 3202OPTIONS: Approve/Disapprove the requested budget transfer. RECOMMENDATIONS: Staff recommends the approval of the above listed transfers to account for revenue shortfalls in gas taxes with consideration of Restore award. RECOMMENDED BY: APPROVED BY: John Hofstad, County Administrator