ORD-2011-004 Capital Projects Budget Ordinance Amendments – Budget Amendment #6-A

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N Attachment 3 EFLAND SEWER EXTENSION DEVELOPMENT BACKGROUND: Capital Project Ordinance: The Efland Sewer Extension Project Ordinance has an approved budget of $2,192,240 and is $394,000 over the correct project budget of $1,798,240. On May 4, 2006, the Board of County Commissioners met to award bids for the construction of water and sanitary sewer services to the Buckhorn Area, including the new Gravelly Hill Middle School. The low bid was above the available budget and the Board approved a plan to debt finance the remaining $394,000 of the project with the next debt issuance planned for the fall of 2006. The $394,000 was included in the Efland Sewer Extension Project Ordinance amendment and was approved by the Board. A $400,000 Budget Amendment for Efland Sewer Extension Project Ordinance was approved by the Board on June 27, 2007 in coordination with the issuance of debt. A total of $400,000 of new debt was sold for the Efland Sewer Project. This double budgeting of debt proceeds results in the Efland Sewer Extension Development Project Ordinance being overstated by $394,000. Efland Sewer Extension Development: Project # 30017 Revenues for this pr o'ect: Appropriated for this Droiect: FY 2010 -11 Revised FY2010 -11 Corrections FY 2010 -11 Revised Sales Tax & Dedicated Property Tax $50,000 $50,000 Private Placement $685,654 $394,000 $291,654 Grant Funds 867,300 $394,000 867,300 Transfer from other Funds 639,286 $394,000 639,286 Total Project Funding $2,192,240 $394,000 $1,798,240 Appropriated for this Droiect: Through FY 2009 -10 FY2010 -11 Corrections FY 2010 -11 Revised Site Development $50,000 $50,000 Professional Services 30,250 30,250 Construction 2,111,990 $394,000 1,717,990 Total Project Costs $2,192,240 $394,000 $1,798,240