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HomeMy WebLinkAbout12448 RESOLUTION NO. 12448 A RESOLUTION AUTHORIZING THE TRANSFER OF $17,592 FROM PROJECT NO. LT0224 – ICE ARENA BOILER SYSTEM, TO PROJECT NO. LT1008 – ICE ARENA CONCESSION EQUIPMENT BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. Funds in the amount of $17,592 shall be transferred from LT0224 – Ice Arena Boiler System, to LT1008 – Ice Arena Concession Equipment. SECTION 2. This Resolution shall become effective immediately upon passage and approval. INTRODUCED: July 23, 2012 BY: Chris Nicoll COUNCIL PERSON Background Paper for Proposed R ESOLUTION DATE: July 23, 2012 AGENDA ITEM # M-2 DEPARTMENT: PARKS AND RECREATION CREIGHTON WRIGHT, DIRECTOR TITLE A RESOLUTION AUTHORIZING THE TRANSFER OF $17,592 FROM PROJECT NO. LT0224 – ICE ARENA BOILER SYSTEM, TO PROJECT NO. LT1008 – ICE ARENA CONCESSION EQUIPMENT ISSUE Should City Council authorize the transfer of funds in the amount of $17,592 from Project No. LT0224 – Ice Arena Boiler System, to Project No. LT1008 – Ice Arena Concession Equipment to complete Project No. LT1008? RECOMMENDATION Approval of this Resolution. BACKGROUND The budget for Project No. LT1008 – Ice Arena Concession Equipment was $34,000. The actual cost to complete the project will be approximately $41,000. The project included complete renovation of the existing Ice Arena Concession Stand and purchase of new concession equipment. In order to have enough funds available for the completion of Project No. LT1008, funding from another active CTF project will need to be transferred. Project No. LT0224 – Ice Arena Boiler System, which was created to fund the renovations of the Ice Arena in 2008, has a current balance of $17,592. FINANCIAL IMPACT No financial impact. Both projects are funded with Conservation Trust Funds (Lottery).