13-Deliberate on a nupdate on the Collegiate Drive and Stillhouse projects

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CITY COUNCIL AGENDA ITEM BRIEFING SHEET Submittal Date: Originating Department: Presented By: Agenda Item No.: 02/18/10 Shawn Napier, P.E. Director of Council Date: City Council Engineering, Planning & 13. 02/22/10 Development RECOMMENDED MOTION: Not an action item. POLICY ISSUE(S): Capital improvements BACKGROUND: South Collegiate Drive is on schedule for letting bids in April and to be under construction by the end of June. TxDOT`s letting schedule for F.M. 1507 (Jefferson Rd.) is the same month as the City's, with construction to start in July. Acquisition of Right-of-Way for the project should begin in the next couple of weeks. This project is being funded through a certificate of obligation. The next step in the Stillhouse Road project is to contract with an engineering firm by April 12 to do the plans and specifications for phase I and possibly phase II of the project. This $65,174 project is not budgeted and has been proposed to be funded out of reserves. The original cost estimate did not include consulting engineer fees of approximately $25,000, which would bring the total to about $90,000. The Finance Director just finished his 9/30/10 estimate of the General Fund ending balance and projects this number to be $7,155,608, based on the following assumptions: 1. TXU Energy franchise fee shortfall-$80,000. 2. Transfer to Capital Projects Fund of $350,000. This is needed to completely fund the current budget. 3. Atmos Energy franchise fee shortfall-$300,000. 4. Sales tax shortfall-$300,000. 5. EMS fees shortfall-$50,000. 6. Budgeted GF revenues would be reached with the exceptions noted above. 7. Budgeted GF expenses would be 100% spent. We under spent the GF budget by 3.8% ($824,522) last year and the Finance Director's estimate did not allow for under spending of the FY 2009-2010 budget. BOARD/COMMISSION RECOMMENDATION: N/A EXHIBITS: Council Member Agenda Item Request form ACTION: BUDGET INFO: ❑ Financial Report ❑ Minute Order Expense $ ❑ Department Report ❑ Resolution Budgeted Amt. $ ❑ Presentation ~ Ordinance y'I'D Actual $ ❑ Public Hearing ❑ Other Acct. Name FA-cct. Number FISCAL NOTES: REVIEWED AND APPROVED BY: ~ Administration ❑ City Clerk ❑ Community Development ❑ EMS/IT Z Finance ❑ Fire ❑ Municipal Court ❑ Legal ❑ Library ❑ Police Z Eng./Public Wotks ❑ Utilities City of Paris Revised 2/04/08 ~ 00 01 .i