HomeMy WebLinkAbout24-018 Amending the 2023 Municipal State Aid Fund Budget (CP 20-05) CITY OF LAKEVILLE
RESOLUTION NO. 24-018
Resolution Amending the 2023 Municipal State Aid Fund Budget(CP 20-OS)
WHEREAS,the City Council previously approved a JPA with Dakota County for construction of
improvements to CSAH 70 (CP20-OS), for which construction has been completed; and
WHEREAS, the County provided final costs on the project, including application of a 15% cost
cap on eligible portions of the project.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Lakeville,
Minnesota, as follows:
1) The estimated total City share of the project cost is $6,315,321, and funded by the sources
noted below. Staff recorded estimates of amounts owed to the County in the 2021 financial
statements based on the County's 2021 estimates, and now needs to record the amounts by
fund noted in the Change in 2023 column below.
City staff is hereby authorized to amend the 2023 budgets and make the appropriate
transfers between funds and/or cost allocations with respect to the project funding sources
per the 2023 changes below.
Previous estimate Final estimate Change in
Funding Source
(Dec. 2021) (Dec. 2023) 2023
MSA $3,402,644 $1,801,048 ($1,601,596)
Water Operating Fund $661,455 $1,009,757 $348,302
Sanitary Sewer Operating Fund $77,098 $94,589 $17,491
Street Light Operating Fund $0 $48,756 $48,756
Stormwater Infrastructure Fund $1,083,539 $585,781 ($497,758)
Water TrunkFund $1,364,993 $1,965,856 $600,863
Sanitary Sewer Trunk Fund $326,896 $415,738 $88,842
ParkDedicationFund $75,238 $181,778 $106,540
ISLP 3rd $0 $212,018 $212,018
Total 6,991,863.00 $6,315,321 ($676,542)
ADOPTED by the Lakeville City Council this 5�'day of February 2024.
CITY OF LAKEVILLE
.
M. Hellier, Mayor
Ann r ofsky, City Clerk