HomeMy WebLinkAboutReclassify Traffic Signal Construction Funding TE N
CITY OF PALM DESERT
PUBLIC WORKS DEPARTMENT
STAFF REPORT
REQUEST: Reclassify Traffic Signal Construction Funding from Fund 234
(Traffic Signal Fund) and Fund 231 (Construction Tax Fund) to
Fund 213 (Measure A Fund)
DATE: May 24, 2001
Recommendation:
By minute motion, authorize the reclassification of Traffic Signal
Construction funding from Fund 234 (Traffic Signal Fund) and Fund 231
(Construction Tax Fund) to Fund 213 (Measure A Fund), upon receipt of
approval from Riverside County Transportation Commission (RCTC).
Background:
The current (2000/2001) Capital Improvement Program includes
construction of traffic signals at the following locations:
• Portola Avenue/Shadow Mountain Drive
• Portola Avenue/Hovley Lane West
• El Paseo/Larkspur Lane
Funding for the Construction of these traffic signals is contained within the
Traffic Signal Fund 234, as well as Construction Tax Fund 231.
In reviewing the current status of these Fund accounts, staff has
determined that the allocation of funds for the construction of these signal
projects from Measure A funds will reduce the financial impact on Fund
231 and Fund 234 balances. By utilizing Measure A funds, we will be
reducing our Measure A Fund balance, which has been of great concern
to RCTC. We have requested the approval of this program change
through RCTC, and are awaiting their concurrence. The reclassification of
funds, as requested in this report, will be contingent upon that
concurrence.
Staff Report
Reclassify Traffic Signal Construction Funding from Fund 234 (Traffic Signal Fund) and
Fund 231 (Construction Tax Fund) to Fund 213 (Measure A Fund)
May 24, 2001
Page 2 of 2
Therefore, staff recommends that City Council, by minute motion,
authorize the reclassification of Traffic Signal Construction funding from
Fund 234 (Traffic Signal Fund) and Fund 231 (Construction Tax Fund) to
Fund 213 (Measure A Fund), upon receipt of approval from Riverside
County Transportation Commission (RCTC).
Submitted By:
oseph S. Gaug sh, P.E.
Director of Public Works/City Engineer
Approval:
City Manager
silt:nt City M er for Development Services
Finance Director
JSG/sd
CITY COUNC� ACTION:
APPROVED__ . DENIED
RECEIVED OTHER
NSEETI IFI . TE '�` — '
AYES: J �,
NOES: /�I
ABSENT:
ABSTAIN: 6 t-
VERIFIED BY: �` I'YK''►�l
Original on File w h City Clerk' s Office
G:IPubWorksVSonja De La FuentelMyDocuments\STAFFREPORTSIApprove Transfer of Funds.doc