AGENDA MEMORANDUM

Meeting Date: December 14, 2009

From:                          Brandy McDaniel, Budget Manager

                                    Jerry Boop, CPA, CGFO Finance Director

Subject:                      Ordinance reallocating the 2007 Capital Improvement Bond for the Wastewater Fund        

Staff Recommendation:

Staff recommends adoption of the attached ordinance reallocating the 2007 Capital Improvement Bond for the Wastewater Fund.

Analysis:

The following adjustments are required to reallocate the 2007 bond funds among the projects based on actual and projected expenditures

Project	Current Budget	Proposed Budget	Difference
Collecting Sewers	$        1,200,000	$           1,106,844	$     (93,156)
Treatment & Disposal Plants	747,500	840,656	93,156
	$        1,947,500	$           1,947,500	$                 -0-

The original 2007 Bond issue project list included funding of $300,000 for the SW area- US 27 S Force Main project in Collecting Sewers which is not necessary at this time.  On November 23, 2009 the City Commission approved the contract with TLC Diversified to construct the Headworks Lift Station.  The reallocation of projects based on priority will allow this project to be partially funded by the 2007 Capital Improvement Bond for the Wastewater Fund.

Options:

1.  Adopt the attached ordinance reallocating the 2007 Capital Improvement bond for the

    Wastewater Fund; or

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact: 

There is no fiscal impact on the Wastewater Fund.

Submission Date and Time:    12/10/2009 5:15 PM____

Department: ______________________ Prepared by:  ______________________                      Attachments:         Yes____   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. ________JB________                                    Deputy C.M. ___________________                                          Submitted by: City Manager ___________________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget  ______________________ Available _____________________

ORDINANCE NO._______________

An ordinance of the city commission of the city of leesburg, florida, reallocating the 2007 Capital improvement bond funds;  and providing an effective date.

WHEREAS, it is now necessary to reallocate the 2007 Capital Improvement Bond for the Wastewater Fund and,

WHEREAS, such action was not anticipated in the original 2007 Capital Improvement Bond for the Wastewater Fund, and

WHEREAS, there is no fiscal impact on the Wastewater Fund

NOW THEREFORE, BE IT ENACTED BY THE PEOPLE OF THE CITY OF LEESBURG, FLORIDA:

SECTION I.

            This ordinance shall become effective upon its passage and adoption by the Leesburg City Commission in the manner provided by law.

PASSED AND by the City Commission of the City of Leesburg, Florida at the regular meeting held the14th day of December 2009.

                                                                            __________________________

                                                                             Mayor

ATTEST:

__________________________

City Clerk