TO: Members of the City Council
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
Finance
Chip Corder
425-556-2189
DEPARTMENT STAFF:
Finance
Marissa Flynn
Senior Financial Analyst
TITLE:
title
Adoption of an Ordinance Amending Ordinance Nos. 3026, 3041, and 3042 by Making Adjustments to the City's 2021-2022 Biennial Budget to Recognize Appropriation of the Unallocated Beginning Fund Balance in the General Fund to Allocate Funding to the Redmond Central Connector Phase 3 Project
a. Ordinance No. 3047: An Ordinance of the City Council of the City of Redmond, Washington, Amending Ordinance Nos. 3026, 3041, and 3042 by Making Adjustments to the City's 2021-2022 Biennial Budget, in Exhibit 1
OVERVIEW STATEMENT:
recommendation
The purpose of the budget adjustment is to formally recognize $2.8M of the unallocated 2021-2022 General Fund Beginning Fund Balance to allocate funding to the Redmond Central Connector Phase 3 project. The $2.8M will provide the City's portion of the $8.6M project that completes the last phase of Redmond Central Connector project which began in 2010. Phase 3 of the project will add the remaining 1.6 miles of hard-surface trail. Once completed, the trail will connect with over 60 miles of regional trails and will be the key regional link from Redmond to Sammamish and Kirkland. The budget adjustment also includes a transfer of this funding from the General Fund to the Parks Capital Projects Fund.
body
? Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
? Receive Information ? Provide Direction ? Approve
REQUEST RATIONALE:
* Relevant Plans/Policies:
Fiscal Policies
* Required:
RCW 35A.33.120 Funds-Limitations on expenditures-Transfers and adjustments.
* Council Request:
N/A
* Other Key Facts:
N/A
OUTCOMES:
The budget adjustment is necessary to align City financial records with decisions made by the Council.
COMMUNITY/STAKEHOLDER OUTREACH AND INVOLVEMENT:
* Timeline (previo...
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