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Budget Amendment Realigning Funds From Reserves for Contingency to Contract Services for Annual Traffic Markings Contract for Department of Public Works
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BRIEF OVERVIEW
During the FY 2024 budget process, several contracts were moved from a Gas Tax Fund to the Transportation Trust Fund due to funding constraints. It was discovered after approval of the budget that the contract for Traffic Markings was not fully populated. Therefore, the attached budget amendment is submitted for Board approval to realign funds from Reserves to appropriate expenditure accounts to fund the annual Traffic Markings contract.
FINANCIAL IMPACT
Funding for the annual Traffic Markings contract in amount of $571,000.00 is available in following accounts with approval of attached budget amendment.
• Account No. 1011-03081-5303440 ($541,000.00) Transportation Trust Fund, Traffic Division, Contract Services-Striping
• Account No. 1011-03081-5303441 ($30,000.00) Transportation Trust Fund, Traffic Division, Contract Services-Raised Pvmt Mrk
LEGAL NOTE
The Board has the authority to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve the attached budget amendment realigning $571,000.00 from Reserves to Contract Services to fund the annual Traffic Markings contract.