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HomeMy WebLinkAbout08110ORDINANCE NO. 8110 AN ORDINANCE TRANSFERRING $239,031 OF AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA) FUNDS FROM TRANSIT PROJECT ARBC01 INTO TRANSIT PROJECT ARBCO2 TO SUBSIDIZE TRANSIT OPERATING EXPENDITURES FOR FY 2009 AND 2010 AND BUDGETING AND APPROPRIATING FUNDS THEREFORE WHEREAS, Pueblo Transit has received a grant from the American Recovery and Reinvestment Act (ARRA), to fund the procurement of Transit Capital equipment, and have received authorization from the Federal Transit Administration (FTA) to transfer $239,031 (10% of total allocation) for operational expenses; now Therefore BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO. that: SECTION 1. Funds in the amount of $239,031 are hereby transferred from Transit Project ARBC01 into Transit Project ARBCO2 and budgeted and appropriated for Transit operating expenditures for fiscal year 2009 and 2010. SECTION 2. Project # ARBCO2 is established in the amount of $239,031 for Transit operating expenditures. INTRODUCED: November 9, 2009 BY: Judy Weaver COUNCIL PERSON �. PRESIDENTof City Council A77ESTEC? BY: CITY CLERK PASSED AND APPROVED: November 23, 2009 4 Background Paper for Proposed ORDINANCE AGENDA ITEM # R -8 DATE: November 9, 2009 DEPARTMENT: PUEBLO TRANSIT BRENDA BROYLES DIRECTOR OF TRANSIT TITLE AN ORDINANCE TRANSFERRING $239,031 OF AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA) FUNDS FROM TRANSIT PROJECT ARBC01 INTO TRANSIT PROJECT ARBCO2 TO SUBSIDIZE TRANSIT OPERATING EXPENDITURES FOR FY 2009 AND 2010 AND BUDGETING AND APPROPRIATING FUNDS THEREFORE ISSUE Should City Council approve a transfer in the amount of $239,031 from the American Recovery and Reinvestment Act (ARRA) funding for Transit Operating expenditures for FY 2009 -2010. RECOMMENDATION Approval of Ordinance. BACKGROUND Pueblo Transit has obtained authorization from the Federal Transit Administration to utilize up to a 10% of the American Recovery and Reinvestment Act (ARRA) funding to subsidize its operational expenditures. The funding is 100% Federal share with no City match requirements. FINANCIAL IMPACT The total project cost is $239,031 and it is 100% Federal match.