TO: Members of the Governing Board
FROM: Tracy Schulze - Auditor-Controller
REPORT BY: Georgina Panganiban - Accountant-Auditor Manager
SUBJECT: NBRID Fiscal Year 2024-25 Budget Carry Forward for Continued Projects and Related Contract Encumbrances
RECOMMENDATION
title
Approve and authorize the carry forward budget amendment for fiscal year 2024-25, of estimated fiscal year 2023-24 remaining budget and related contract encumbrances for projects not completed as of June 30, 2024 for the Napa Berryessa Resort Improvement District. (Fiscal Impact: $305,512; Not Budgeted; Discretionary)
[4/5 vote required]
body
BACKGROUND
Due to the size of the projects and timing of contract awards, projects are often started in one fiscal year, yet completed in a future year. Attachment A provides a listing of current Capital Improvement Projects with related contracts to be rolled over (encumbered) in the new fiscal year. The total amount of appropriations is $305,512, which includes contracts encumbered of $168,357. All funds for these projects have already been restricted through the project approval or contract encumbrance process and will automatically flow into the following year.
None of the items listed on the attachment were included in the fiscal year 2024-25 budget. Once all June invoices are paid, these amounts will be adjusted, and final carry forward budgets will be determined. The Auditor-Controller will provide a final listing as part of the year-end letter for ratification of the increased appropriations.
Requested Action:
Approve and authorize the carry forward budget amendment for fiscal year 2024-25, of estimated fiscal year 2023-24 remaining budget and related contract encumbrances for projects not completed as of June 30, 2024
FISCAL & STRATEGIC PLAN IMPACT
Is there a Fiscal Impact?
Yes
Is it currently budgeted?
No
Where is it budgeted?
Revenue sources include planned use of fund balance, grants, or other revenue sources specifically related to thes...
Click here for full text