Title
Approval of Budget Carryovers from FY2019 to FY2020
Recommended Action
I move that the Board of Public Utilities approve Budget Revision 2020-08 for carryovers from FY2019 to FY2020 and forward to Council with a recommendation for approval. I further move that the budget revision be included as an attachment in the minutes for the record.
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 FY2019, was not completed, and the remaining budget in FY19 is carried over to continue the project in FY2020.
2. The project was not included in the FY2020 budget.
3. The project was not encumbered in FY2019.
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 FY2020. Upon Board approval this $5,761,745 carryover will be presented by Finance Staff for Council approval.
Water Production budgeted, with revisions, $5,064,361 for the Otowi 2 Well House and equipment project, LA Reservoir Road stabilization, Pajartito Well #5 MCC replacement, and the Pajarito Well #4 motor replacement. This work has been started but hasn’t yet been completed. The budget has been only partially spent or encumbered, therefore $3,417,876 of the remaining budgeted funds needs to be carried forward into FY20.
In Electric Distribution, carryforward of unspent budgeted funds is requested for two projects, the Los Alamos Switchgear Substation (LASS) and the NM 502 project. In FY19, 1,340,817 was budgeted for URD replacements in Los Alamos and White Rock, however, due to the NM 502 project unexpected expenses were incurred ($184,033) and staff resources were pulled away from this project. DPU would like to re-appropriate $500,000...
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