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Budget Resolution Recognizing Revenue From State Department of Transportation Grant for Brooksville-Tampa Bay Regional Airport Eastside Roadway Improvements Project
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BRIEF OVERVIEW
Brooksville-Tampa Bay Regional Airport received a state grant in the amount of $2,900,000 for the Eastside Roadway project that was approved by the Board on June 13, 2023, Doc ID 12319. The construction bid of $2,549,665.25 was approved by the Board on July 25, 2023, Doc ID 12495, and the construction administration quote by Avcon, Inc., using the Airport Continuing Engineering Services Contract No. 18-RG0128, approved by the Board on June 25, 2019, Doc. ID 15865, is $381,970.74 for a total project cost of $2,931,635.99.
The Airport is requesting Board approval to recognize the grant revenue and expense for this grant received at end of FY23 and to fund the additional $32,000.00 of this project from 2024 Reserves.
FINANCIAL IMPACT
The Airport’s revenue will increase by $2,900,000 in Account No. 4311-34298-3896001 ST GRT-FDOT 55.004 CAP. The Airport’s expenditures will increase by $2,900,000 in Account No. 4311-34298-5626555 CIP-AP INFRASTRUCTURE and $32,000 from Account No. 4311-07411-5909917 Airport Operations Budget Reserves-Capital Projects will be recognized in Account No. 4311-07411-5626555 CIP-AP INFRASTRUCTURE.
LEGAL NOTE
In accordance with Part II, Chapter 2, Article V of the Hernando County Code of Ordinances.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairman’s signature on the attached budget resolution.