Title
Approval of Budget Carryover from FY2017 to FY2018 for Electric Production and Budget Revision 2018-05
Recommended Action
I move that the Board of Public Utilities approve an additional budget carryover for Electric Production from FY2017 to FY2018, approve budget revision 2018-05 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 project was budgeted in FY2017 but was not completed, so we are planning on completing in FY2018
2. We do not have an encumbrance in FY2017 already
3. We have FY2017 Budget left to cover the amount we want to carry over
4. We did NOT re-budget the project in FY2018
All of these requirements have been met for the project listed below. We are seeking Board approval to carry these funds over in anticipation of completing this project in FY2018. Upon Board approval this $80,000 carryover will be presented by Finance Staff for Council approval.
Electric Production budgeted $80,000 for work on the floors at the El Vado Hydroplant. Due to competing priorities during FY2017, the project was not begun. As such, $80,000 of budgeted funds needs to be carried forward into FY18 for this initiative.
Alternatives
If these funds, budgeted but not expended in FY2017, are not carried over the project could be funded with FY2018 funds (requiring a FY2018 budget adjustment), postponed and re-budgeted in FY2019, or cancelled.
Fiscal and Staff Impact
$80,000 transfer of budget authority from FY2017 for expenditures in FY2018.
Attachments
A - Budget Revision 2018-05 DPU Carryover