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Posted: November 13, 2024
Rapid City
Agenda Item Summary

Agenda Item Ref. #: CIP111524-07 Approve Consideration to transfer funding for 2025 Equipment Replacement

Agenda Item Title:

Approve Consideration to transfer funding for 2025 Equipment Replacement

Origination Group:
Capital Improvement Plan Committee
Origination Meeting Date:
11/15/2024
Stage 2 Group Name:
City Council
Stage 2 Meeting Date:
12/02/2024
Staff Contact:
Daniel Ainslie
Agenda Item Summary:
As part of the Council adopted 2025 Budget, nearly all vehicular equipment purchases were removed from General Fund Budget. The intent was for these types of capital purchases to be purchased using CIP funds. The staff have identified the following available funds to be transferred for equipment purchases in 2025:
CIP #51255 Arterial Street $100,000
CIP #50752 Bridge Maintenance $150,000
CIP #50798 Collector and Arterial Maintenance $600,000
CIP #51112 Guardrail Installation $80,000
CIP #51406 Maintenance Facility Master Plan $750,000
CIP #51323 Stormwater Quality Manual Update $175,000
CIP #51425 Storm Sewer Reconstruction $120,000
CIP #51191 Haines Avenue DBDP Improvement – Element 1 $34,450
CIP#51348 79 & Folsom Signalization $545,000
Unallocated Fund Balance $1,000,000

The projects identified have not yet started. CIP’s 51255/50752/50798/51112 do not have projects identified for 2024 and will not be expended. The remaining CIP project funding will be moved to 2025 or beyond. The fund’s total of $3,554,450 for General Fund related vehicular equipment. Should the Council authorize this transfer, a recommended list of equipment to be purchased will be presented to the Council at the next meeting. The staff is continuing to work on solutions for funding for future years’ vehicular purchases. This will include an update to the CIP Funding allocation. This is anticipated to be brought before the Council in early 2025.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve

Attachments & Links to Download:

No attachments

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