HomeMy WebLinkAbout24-040 Authorizing Funding and 2024 Budget Amendments and Transfers 2024 Street Reconstruction/Rehabilitation Project, City Project 24-02 CITY OF LAKEVILLE
RESOLUTION NO. 24-040
Resolution Authorizing Funding and 2024 Budget Amendments and Transfers
2024 Street Reconstruction/Rehabilitation Project, City Project 24-02
WHEREAS,2024 Street Reconstruction/Rehabilitation, City project 24-02,is programmed in the
adopted Lakeville 5-year Capital Improvement Plan (2024-2028).
NOW,THEREFORE,BE IT RESOLVED,by the City Council of the City of Lakeville,Minnesota:
The estimated project cost is$5,470,553 and anticipated funding sources are listed below.City staff
is hereby authorized to amend the 2024 budgets (if needed as the project is completed) and make
the appropriate transfers between funds with respect to the project funding sources up to 10%
above the estimated costs.Funding transfers may include loans between funds to cover engineering
and other costs incurred on the project in advance of receiving other funding.
Fundin�Sources Total
City of Lakeville (property taxes) $ 3,139,005
Special Assessments 990,136
Water Operating Fund 527,332
Sanitary Sewer Fund 112,861
Stormwater Infrastructure Fund 600,322
Environmental Resources Fund 38,810
Trail Improvement Fund 62,086
Total $ 5,470,553
ADOPTED by the Lakeville City Council this lst day of Apri12024.
Josh a Lee,Acting or
Ann Orlofsky, City Clerk