Title:
Budget Amendment -Transfer of Funds (Solid Waste)
Summary
ACTION:
Approve the FY19 transfer of $1,608,000 from the Solid Waste Enterprise Fund to the Solid Waste Management Fund Capital Reserve Fund, and appropriate these funds in the Solid Waste Management Capital Reserve Fund
Staff Contact: Jeffrey Smithberger, Division Director-Solid Waste
Presentation: No
BACKGROUND/JUSTIFICATION:
The Solid Waste Management Facilities Capital Reserve Fund was established to provide monies to fund solid waste management improvements and maintenance and for the acquisition of necessary equipment for use in conjunction therewith. The Solid Waste Management Facilities Capital Reserve Fund is periodically replenished from the Solid Waste Operating Fund, consistent with the Solid Waste Management Facilities Capital Reserve Fund Ordinance.
The Capital Reserve Fund is a multi-year fund that allows flexibility needed for the program. The replenishment of funding is necessary for the completion of both projects and purchases of capital equipment. Solid Waste Capital Reserve projects include updating working areas at the North Meck Recycling Center, adding recycling sorting and bailing equipment at the Materials Recovery Facility, replacing composting equipment at the Compost Central Facility, adding methane gas control at closed landfills, other solid waste related work.
FY19 designated funds within the LUESA Solid Waste Enterprise Fund will be transferred at this time.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
Increase in the Solid Waste Management Facilities Capital Reserve Fund of $1,608,000