Title
Approval of Budget Carryovers from FY2016 to FY2017
Recommended Action
I move that the Board of Public Utilities approve the budget carryovers from FY2016 to FY2017 and forward to Council with a recommendation for approval.
Staff Recommendation
Staff recommends the Board of Public Utilities approve the budget carryovers as presented and forward to Council with recommendation for approval.
Body
Requirements for carryover of budget authority are as follows:
1. The projects were budgeted in FY2016 but were not completed, so we are planning on completing in FY2017
2. We do not have an encumbrance in FY2016 already
3. We have FY2016 Budget left to cover the amount we want to carry over
4. We did NOT re-budget the project in FY2017
All of these requirements have been met for each of the projects listed below. We are seeking Board approval to carry these funds over in anticipation of completing these projects in FY2017. Upon Board approval this $3,952,977 carryover will be presented for Council approval by Finance staff.
Electric Production budgeted $100,000 for transformer work at the hydroplants. This work has been delayed until FY17.
Electric Production budgeted $250,000 in FY16 for back-up generators at the Abiquiu and El Vado hydroplants. The contract for that work was awarded in July 2016, at the beginning of FY17, so a reduced amount of budgeted funds need to be carried into the current fiscal year. The carry forward amount is $165,000.
Waste Water budgeted $144,000 for sanitary sewer replacement near the Subway restaurant in FY16, and while the contract for that work was awarded in June, it wasn’t effective until July 1, 2016, pushing the work into FY17. As such, the budgeted funds need to be carried into the current fiscal year.
Waste Water budgeted $425,000 in FY16 for sewer mains and services replacement on Joya, Mimbres, and Kayenta. That project is now scheduled for FY17 and the budget should be carried forward.
A NM 502 related project ...
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