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Ordinance No. 14-30 amending Ordinance No. 13-77 (2014 Appropriation Ordinance) for a Supplemental Appropriation to the Bike Tax Fund in the amount of $70,669 for the Purpose of Bike Trail Improvements
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Summary: Traffic Engineering staff requests approval of the attached ordinance for a supplemental appropriation. This action will appropriate available Bike Tax Fund Balance to the Bike Tax project account 117-3300-9330054, in the amount of $70,669 to be used toward bike infrastructure improvements as described below.
Previous Council Action: On December 18, 2013, City Council approved Ordinance No. 13-77 (2014 Appropriation Ordinance).
Background: The Bicycle Excise Tax was approved by City Council in 1988. It is a $4 excise tax charged on the sale of every new bicycle sold within Colorado Springs city limits. By ordinance, the revenues are required to be spent on projects identified in the City's Bicycle Plan. Traffic Engineering and Parks staff work together to develop project priorities for the Bicycle Tax revenue. These projects include the installation of signage and pavement markings for bicycle lanes, enhance bicycle route and trail connectivity, construct safety improvements between on-street and off-street facilities, install bicycle parking equipment, and grant matches to leverage outside funds.
There is an available fund balance in the amount of $70,669. This is a result of the reorganization of the bicycle support staff in 2013. At the end of 2013, it was determined that funding that was previously budgeted in bike tax project accounts for temporary staff could be released and utilized to fund larger projects. The available fund balance increased as a result of the 2013 end-of-year project sweep - where unspent funds in projects are analyzed and if it is determined that they are no longer needed for the original intent, the funds are swept to fund balance. Based upon preliminary 2013 end-of-year financials, after this appropriation, there would remain a fund balance of $23,750.
Staff is asking to appropriate the $70,669 to the Bike Tax Fund, Urban Trail Project Account 117-3300-9330054. These funds will be used toward the connection of the Foothills Trail with the Midland Trail by constructing a bridge over Fountain Creek near 31st Street and Highway 24, improve the safety of roadway crossings for Shooks Run (a.k.a. Legacy Loop), and continue the installation of bicycle lanes on roadways identified in the Colorado Springs Bicycle Plan.
Financial Implications: The supplemental appropriation has no adverse effect on the 2014 Budget and does not affect the general fund balance. These funds are bike tax revenues which are specifically collected for bikeway improvements.
Board/Commission Recommendation: N/A
Stakeholder process: None
Alternative: City Council can approve or decline the supplemental appropriation.
Recommendation:
Staff recommends approval of the supplemental appropriation ordinance to transfer funds in the amount of $70,669.
Proposed Motion: Move to approve the ordinance as submitted.