HomeMy WebLinkAbout4588 Ordinance - 2021-2022 Supplemental Budget Argent 2 ORDINANCE NO. 4588
AN ORDINANCE AMENDING THE 2021-2022 MID-BIENNIAL
BUDGET (ORDINANCE NO. 4560) OF THE CITY OF PASCO,
WASHINGTON, BY PROVIDING SUPPLEMENT THERETO; TO PROVIDE
ADDITIONAL APPROPRIATION IN THE CITY'S GENERAL
CONSTRUCTION FUND FOR THE CONSTRUCTION OF THE ARGENT
ROAD IMPROVEMENTS PHASE 2 PROJECT.
WHEREAS,on December 7,2020,the Pasco City Council approved Ordinance No.4503,
adopting the 2021-2022 Biennial Budget; and
WHEREAS, on November 22, 2021, the Pasco City Council approved Ordinance No.
4560, adopting the 2021-2022 Mid-Biennium Budget Adjustment amending the 2021-2022
Biennial Budget; and
WHEREAS, the 2021-2022 Mid-Biennial Budget includes the Argent Road
Improvements Phase 2 project; and
WHEREAS, the City is in receipt of a funding contribution of$1.5 Million from the Port
of Pasco for the Argent Road Improvements Projects (Phases 1, 2 and 3); and
WHEREAS, the City is in receipt of a funding contribution of $1.5 Million from
Columbia Basin College far the Argent Road Improvements Projects (Phases 1, 2 and 3); and
WHEREAS, the Argent Road Improvements Phase 2 project has a remaining budget
allocation of$558,000 from stakeholder contributions after monies have been reallocated to fully
fund Phase 1 of the project which advanced into construction in 2021; and
WHEREAS, current project costs exceed the original anticipated costs for the project, due
to market conditions and the time elapsed since creation of the project; and
WHEREAS, the City is pursuing an increase of funds to cover construction costs
anticipated to be expended in 2022; and
WHEREAS, such funds are available in the Capital Improvement (REET) Fund with a
total fund balance of$12,190,765 of which$682,000 of this fund is available for use in the General
Construction Fund; and
WHEREAS,the City Council finds that such interfund transfer pursuant to 35A.34.200(3)
is in the best interest of the City of Pasco as it ensures successful and timely completion of a
necessary Capital Improvement Project.
Ordinance—2021-2022 Capital Project Budget Amendment
21 229 Argent Road Improvements,Phase 2 Project- 1
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO,
WASHINGTON DO ORDAIN AS FOLLOWS:
Sectiori 1. Pursuant to RCW 35A.34.200(3), the 2021-2022 Mid-Biennial Budget be and
the same is hereby amended to provide for the following adjustments to revenues, transfers in,
expenditures, and transfers out by providing authority for any necessary transfer of money within
or between funds indicated, and their subsequent impact to end fund balance:
Fund EXPENDITURE REVENUE
GENERAL CONSTRUCTION FUND 682,000 682,000
CAPITAL IMPROVEMENT (REET) Fund 682,000
Total 1,364,000 682,000
Section 2. That the additions in appropriations and expenditures are hereby declared to
exist in the above funds for the said uses and purposes as shown above and the proper City officials
are hereby authorized and directed to issue warrants and transfer funds in accordance with the
provision of the Ordinance.
Section 3. Except as amended herein, Ordinance No. 4560 as previously adopted
heretofore shall remain unchanged.
Section 4. This ordinance,being an exercise of a power specifically delegated to the City
legislative body, is not subject to referendum, and shall take full force and effect five(5)days after
approval, passage and publication as required by law.
PASSED by the City Council of the City of Pasco, Washington this 2"d day of May, 2022.
Blanche Barajas
Mayor
ATTEST: APPROVED AS TO FORM:
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Debra Barham, CMC guson Law C
City Clerk City Attorney
Published: �$�C�.. �;�,�, s, ��
Ordinance—2021-2022 Capital Project Budget Amendment
21 229 Argent Road Improvements,Phase 2 Project-2