Title
Ordinance No. 19-53 amending Ordinance No. 18-118 (2019 Appropriation Ordinance) for a supplemental appropriation to the General Fund up to the amount of $2,400,000 for a transfer to the Capital Improvement Program Fund, and to the Capital Improvement Program Fund up to the amount of $2,400,000 for capital transportation infrastructure projects due to additional funding from the Highway Users Tax Fund
Presenter:
Charae McDaniel, Chief Financial Officer
Travis Easton, Public Works Director
Body
Summary:
The attached ordinance is a supplemental appropriation to the General Fund to transfer funds to the Capital Improvement Program (CIP) Fund, and to the CIP Fund up to the amount of $2,400,000 for capital transportation infrastructure projects. Due to SB 19-262, a one-time transfer of State General Fund dollars to the Highway Users Tax Fund (HUTF), the City of Colorado Springs will receive additional funding from HUTF as part of the municipal shareback portion of this funding. At this time the amount is estimated. We will learn the exact amount in early August, and will receive the funding by the end of September. The General Fund will transfer this amount to the CIP fund for capital transportation infrastructure projects. The following project(s) would be funded in 2019:
Peterson Air Force Base East Gate $150,000
Wooten Road over Sand Creek Bridge $1,350,000
Paseo Street Bridge $450,000
Hunter’s Run Bridge $450,000
Total Projects $2,400,000
These four (4) projects are critical infrastructure needs for the City of Colorado Springs, and the work associated with Peterson Air Force Base is a critical safety project for the installation. If the amount of the HUTF funding is less than $2,400,000, the amount available for each project will be scaled down to fit within the actual dollars received.
Previous Council Action:
On November 27, 2018, City Council approved the original 2019 budget per Ordinance No. 18-118 (2019 Appropriation Ordinance).
Background:
SB 19-262 transfers $100 million from the State General Fund to the Highway Users Tax Fund, to be distributed to the State Highway Fund in the Colorado Department of Transportation (CDOT) and local governments. The allocation to municipalities is 18%, and must be spent on transportation projects only. SB 19-262 was signed by the Governor on June 3, 2019.
Financial Implications:
The supplemental appropriation increases the 2019 General Fund and CIP Fund revenue and expenditure budgets by up to $2,400,000. The funding will be received into the General Fund and will be transferred to the CIP Fund. The source of funds is additional funding from HUTF due to SB 19-262, a one-time transfer of State General Fund dollars to the HUTF. There is no impact to the City’s General Fund balance. Revenue received from HUTF is included in the TABOR calculation.
Board/Commission Recommendation:
N/A
Stakeholder Process:
The City Council Budget Committee was notified electronically.
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move approval of the supplemental appropriation to the General Fund and the CIP Fund up to the amount of $2,400,000 for capital transportation infrastructure projects due to additional funding from the Highway Users Tax Fund
Summary of Ordinance Language
An ordinance amending Ordinance No. 18-118 (2019 Appropriation Ordinance) for a supplemental appropriation to the General Fund up to the amount of $2,400,000 for a transfer to the Capital Improvement Program Fund, and to the Capital Improvement Program Fund up to the amount of $2,400,000 for capital transportation infrastructure projects due to additional funding from the Highway Users Tax Fund